WIREDGOV

Main points

• In 2013, the income generated by local activity of businesses in the UK, less the cost of goods and services used to create this income, reached £1 trillion for the first time and was estimated to be £1,001.1 billion. This amount represents the approximate Gross Value Added at basic prices (aGVA) by local activity of the businesses in the UK Non-Financial Business Economy.
• Between 2012 and 2013, aGVA increased by 7.2% (£67.0 billion), the largest annual percentage increase following the recession. This increase is a continuation of the recovery seen between 2009 and 2012 and takes aGVA 10.1% (£92.2 billion) above the level seen in 2008.
• Of the 12 UK regions 11 saw growth in aGVA between 2012 and 2013, with the highest contribution to overall growth from London, Scotland and the North West. The North East was the only region that saw a fall in aGVA (£0.4 billion).
• The region with the largest aGVA increase of £19.4 billion (9.4%) between 2012 and 2013 was London, with growth in its Non-Financial Service sector of 14.5% (£22.0 billion) contributing most. With 3 of the 5 industrial sectors showing growth, aGVA has increased 5.7% (£12.3 billion) above the level seen in London in 2008 for the first time.
• The second largest aGVA increase of £10.2 billion (12.1%) between 2012 and 2013 was for Scotland where all industrial sectors contributed to growth. aGVA is now 4.4% (£4.0 billion) above its 2008 level, with the Non-Financial Service sector the main contributor with an increase of 31.5% (£9.5 billion) between 2008 and 2013.
• The level of aGVA in 11 out of the 12 UK regions in 2013 is now above that seen in 2008, with only Yorkshire and The Humber 2.4% (£1.5 billion) lower than its 2008 level.

Get all the tables for this publication in the data section of this publication.