Regional gross value added (GVA) estimates for 2008 indicate the West Midlands produced below average growth

Office for National StatisticsThe 2008 Regional and 2007 Sub-Regional Gross Value Added (GVA) data (PDF, 143kb) are released today by the Office for National Statistics.

Indexed GVA per head (where UK=100) for the West Midlands in 2008 was 85.1, a marginal decrease from the revised 2007 index value of 85.4.

GVA per head in the West Midlands rose from £17,000 in 2007 to £17,500 in 2008, an increase of 2.5% compared to a 2.9% increase in GVA per head across the UK, and a 2.7% increase in England.

In the latest data for 2008 the West Midlands GVA per head is ranked seventh amongst the nine English regions. London is the strongest performer at £34,800 and the North East is the least strong at £15,900.

In total, regional GVA for the West Midlands in 2008 was £94.5bn, an increase of £2.8bn on the revised figures for 2007.

The latest industrial data, which is for 2007, indicates that the year-on-year increase in the West Midlands total GVA was driven by growth in:

  • Real Estate, Renting & Business Activities
  • Construction
  • Wholesale and Retail Trade
  • Financial Intermediation

Manufacture of Transport Equipment recorded the largest contraction in 2007 versus 2006.

The latest NUTS2 data, which is for 2007, shows GVA per head in Herefordshire, Worcestershire and Warwickshire grew by 4.4% to £17,400. In Shropshire and Staffordshire it grew by 4.6% to £15,100 and the West Midlands (metropolitan) produced growth of 4.5% to £18,000.

In the West Midlands (metropolitan), GVA per head in 2007 was 10% below the UK average, having declined markedly since 2002 relative to the UK average. This is in contrast to its performance in the mid to late 1990s when it was within 1% of achieving the UK average.

At the NUTS3 geographical level, Solihull was the strongest performer in 2007 with GVA per head 13.2% higher than the UK average, and the only area in the West Midlands region to perform above average. Shropshire was least strong at 29.4% below the UK average.

In terms of annual growth, Telford and Wrekin produced the largest increases in GVA per head, up 5.3%. Worcestershire recorded the least percentage growth in GVA per head, up 3.4%.

Coventry has continued to see a downward trend in its indexed GVA per head, at 5.5% below the UK average in 2007, in stark contrast to the city’s performance a decade earlier when its GVA per head stood 15.1% above the UK average.

Despite being the region’s strongest performer amongst the NUTS3 areas, Solihull has also seen a decline from its peak indexed GVA per head in 2002, when GVA per head was 19.5% above the UK average.

More information is available in the West Midlands regional GVA briefing (PDF, 143kb) from the ONS.

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