Estimates of economic output at three geographical levels for 2016.

The ONS have produced a single estimate of gross value added (GVA) known as the balanced (GVA (B)) approach, using the strengths of both the income (GVA (I)) and production (GVA (P)) approaches. These estimates are currently classed as experimental statistics, but are now the ONS' official GVA approach. 

Balanced approach

  • Total GVA (B) in Wales in 2016 was £59.6 billion, up, 4.0 per cent on 2015. GVA for the UK (excluding extra-regio) rose by 3.7 per cent.
  • GVA per head in Wales in 2016 was £19,140, up 3.5 per cent on 2015. This is the second highest increase over the year of all UK countries and regions whilst GVA per head for the UK (excluding extra-regio) rose by 2.8 per cent.
  • GVA per head in Wales in 2016 was 72.7 per cent of the UK (excluding extra-regio) average, the lowest amongst the UK countries and English regions. This was up 0.5 percentage points over the year.
  • Based NUTS2 estimates for 2016 show GVA per head in East Wales and West Wales and the Valleys at 87.2 per cent and 64.1 per cent of the UK average respectively.

Income approach

  • Total GVA (I) in Wales in 2016 was £59.8 billion, up 4.1 per cent on 2015. GVA for the UK (excluding extra-regio) rose by 3.6 per cent.
  • GVA per head in Wales in 2016 was £19,200, up 3.6 per cent on 2015, whilst GVA per head for the UK (excluding extra-regio) rose by 2.7 per cent.
  • Based NUTS2 estimates for 2016 show GVA per head in East Wales and West Wales and the Valleys at 86.9 per cent and 64.7 per cent of the UK average respectively.

Production approach

  • Between 2015 and 2016 GVA (P) grew in real terms by 1.3 per cent in Wales, compared to an increase of 1.6 per cent in the UK. The increase in Wales was the joint fifth highest of all UK countries and regions. London had the highest increase, followed by the South West.
  • Between 2015 and 2016 GVA grew in real terms by 0.6 per cent in West Wales and the Valleys, compared to an increase of 2.0 per cent in East Wales.

Data

Datasets and interactive tools

Contact

Alex Fitzpatrick

Tel: 0300 025 9016

Media

Tel: 0300 025 8099