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Regional Economic Indicators, July 2014

Part of Index of Production, May 2014 Release

Released: 08 July 2014 – Download PDF

Key Points

summary article has been published detailing some of the key points highlighted in this release.

Other key points emerging within the Regional Economic Indicators article are:

Regional output (GVA)

  • Nominal gross value added (GVA) increased between 2011 and 2012 for all regions and countries except for the East Midlands which was broadly flat.  The South East saw the greatest increase in its total GVA, increasing by 3.3% from £196 billion in 2011 to £203 billion in 2012.
  • GVA growth between 2009 and 2012 was strongest in London, rising 11.1%, and weakest in Northern Ireland, rising by 3.4%.
  • London saw its share of UK GVA rise from 19.8% in 1997 to 22.8% in 2012.  Over the same period, almost every other region and country saw a very slightly declining share of UK GVA.

Labour productivity 

  • In 2012, London and the South East were the only regions which were more productive than the UK average (by 31.2% and 7.7% respectively).  The least productive country as measured by GVA per hour worked was Northern Ireland which was 17.2% below the UK average.
  • There was a slight narrowing of the gap between the most and least productive between 2011 and 2012, London’s productivity fell by 3.3 percentage points and Northern Ireland’s productivity rose by 1.7 percentage points.

The labour market

  • Since 2007, the South East, South West and East of England consistently experienced the highest employment rates.  The North East and Northern Ireland tended to have the lowest rates.
  • Between February to April 2013 and February to April 2014, the only statistically significant increases in the employment rate were in the North East, East Midlands, London and the South East.
  • The largest fall in unemployment between February to April 2013 and February to April 2014 was in the West Midlands (falling 1.9 percentage points from 9.4% to 7.5%).
  • London saw the highest percentage increase (15.8%) in workforce jobs between March 2007 and March 2014.  The North East saw the largest percentage decline (-6.5%).

Income and Earnings

  • In 2012, London had the highest Gross Disposable Household Income (GDHI) per head at £21,446.  The lowest GDHI per head was in the Northern Ireland (£13,902 per head).
  • Between 2002 and 2012, GDHI per head in London rose from 24.5% to 27.7% above the UK average.  It fell in the East of England from 8.0% above to 5.0% above the UK average and in the South East from 16.9% above to 13.9% above the UK average.
  • In 2013, London had the highest median full-time weekly earnings at £613 (residence based measure) and £658 (workplace based measure).  Northern Ireland had the lowest weekly earnings, £463 (residence based) and £460 (workplace based).

Innovation

  • From 2010 to 2012, the East Midlands had the largest proportion of innovation active businesses, at almost 50%.  Northern Ireland had the lowest share at 40%.
  • In 2012, business research and development (R&D) expenditure as a percentage of GVA was highest in the East of England (3.0%).
  • R&D expenditure as a percentage of GVA has more than doubled in Northern Ireland, from 0.6% in 2007 to 1.4% in 2012.

Enterprise

  • In 2012, London had the highest percentages of business births and business deaths as a share of active business enterprises (14.8% and 11.7% respectively).  Northern Ireland had the lowest percentages of business births and deaths as a share of active business enterprises (7.0% and 9.4% respectively).
  • In every region and country except London, the percentage of business births as a share of active businesses was lower in 2012 than it was in 2007.  In every region and country, the percentage of business deaths was higher in 2012 than it was in 2007.


International Competitiveness 

  • In 2012, exports of goods as a percentage of GVA were highest in the North East (30.8%) and lowest in London (11.3%).
  • Between 2007 and 2012, Wales saw the largest percentage point increase in exported goods as a share of GVA, from 20.3% to 28.1%.  Northern Ireland saw the smallest percentage point growth, from 18.4% to 19.1%.
  • Between 2007 and 2013, the absolute increase in value of goods exported to non-EU countries exceeded the increase to EU countries in every region and country.

Skills

  • Northern Ireland had the highest percentage of 16 to 64 year olds without any qualifications (17.2%) in 2013.  The lowest rates were in the South East (6.5%) and the South West (6.6%).
  • London had the highest share of 16-64 year olds with NVQ level 4 or above (49.1%) and Northern Ireland and the North East had the joint lowest share (28.1%).
  • In 2012/13, amongst the English regions, London had the highest percentage of pupils leaving Key Stage 4 with five GCSE A* to C grades including maths and English (65.1%).  The North East and East Midlands had the joint lowest percentage (59.3%).

 

Source: Office for National Statistics licensed under the Open Government Licence v.1.0.

 
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