Regional gross domestic product and gross value added: 1998 to 2020

Gross domestic product (GDP)

GDP in Wales in 2020 was £75.7 billion, a decrease of 4.5% from 2019. This compares to a decrease of 4.1% for the UK (excluding extra-regio), over the same time period. Both the decrease for Wales and for the UK were the largest since records began and were mainly the result of the COVID-19 pandemic.

In real terms, Wales saw the largest decrease amongst the 12 UK countries and English regions in GDP of -11.2% between 2019 and 2020.

GDP per head in Wales in 2020 was £23,882, a decrease from 5.0% on 2019.

Gross value added (balanced)

Total GVA in Wales in 2020 was £66.6 billion, down 3.3% on 2019. This compares to a decrease of 3.0% for the UK (excluding extra-regio), over the same time period. Both the decrease for Wales and for the UK were the largest since records began and were mainly the result of the COVID-19 pandemic.

GVA per head in Wales in 2020 was £21,010, down 3.8% on 2019. This is the fourth highest annual fall within the 12 UK countries and English regions (r). GVA per head for the UK (excluding extra-regio) fell by 3.4%.

GVA per head in Wales in 2020 was 72.7% of the UK figure (excluding extra-regio), the second lowest of the UK countries and English regions. This was down 0.3 percentage points over the year.

Data for other lower geographical areas are available (to local authorities and city regions).

(r) Revised on 16 June 2022

Note

• GDP and GVA is given at current basic prices, unless otherwise stated.
• GDP in real terms have the effects of inflation removed by holding prices throughout the series at the level in a chosen base year.