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Gross Value Added (GVA) balanced approach - figures for 1998 to 2018 added to the Observatory.

05 May 2020

Gross Value Added (GVA) is a standard measure of economic output. It describes the total size of an economy and measures the contribution of all activities which produce goods or services. Historically ONS has produced estimates of regional gross value added (GVA) using the income approach GVAI) (as National Statistics) and the production approach GVA (P) (as Experimental Statistics). However, since 2017 ONS have taken the strengths from both approaches and used them to produce a new balanced measure of regional GVA, GVA(B). This gives users a single measure of economic activity within a region, therefore avoiding any confusion from having two different estimates of the same thing. To produce comparative measures, it is usually expressed as a value for each member of the resident population and so produces a measure of GVA per capita. GVA is a measure of the increase in the value of the economy due to the production of goods and services.

In 2018 the GVA (B) for Kirklees was £7.5bn which represents less than 1% of the England total of £1.643tn. Kirklees GVA per head is £17,084 (England £29,356), with Leeds having the highest in the Leeds City Region at £33,248. Nationally, Westminster has the highest GVA per head (£267,958) with East Renfrewshire the lowest at £11,022. Manufacturing accounts for 24.5% of GVA in Kirklees (England 9.6%).

Profile: http://observatory.kirklees.gov.uk/profiles/profile?profileId=281
Table: http://observatory.kirklees.gov.uk/dataviews/view?viewId=566

The full breakdown of GVA by industry and other measures can be found at: https://www.ons.gov.uk/economy/grossvalueaddedgva


 
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