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Gross Value Added (GVA)
Gross Value Added (GVA) is an indicator of economic prosperity. It measures the contribution to the economy of each individual producer, industry or sector. This measure is applicable to the UK.
GVA is the difference between gross output and intermediate inputs. Gross outputs of a production unit during a given period is equal to the gross value of the goods and services produced during the period and recorded at the moment they are produced, regardless of whether or not there is a change of ownership. Intermediate inputs refer to the value of goods and services used in the production process during the accounting period.
In 2006 Portsmouth’s economy was worth £3,963 million, an increase of 27% since 2000. During 2005-2006, Portsmouth’s GVA showed a higher growth (4.8%) than the South East Region (4.1%).
Gross value added at current basic prices in £ million
|
|
Portsmouth |
Southampton |
Hants & IOW |
South East |
UK |
|
2000 |
2,874 |
3,362 |
24,063 |
121,600 |
846,683 |
|
2001 |
3,079 |
3,532 |
25,565 |
129,085 |
889,063 |
|
2002 |
3,270 |
3,791 |
27,093 |
135,998 |
937,323 |
|
2003 |
3,458 |
4,081 |
28,958 |
144,300 |
993,507 |
|
2004 |
3,642 |
4,361 |
30,865 |
152,788 |
1,051,934 |
|
2005 |
3,774 |
4,539 |
32,300 |
159,062 |
1,096,629 |
|
2006 |
3,963 |
4,756 |
33,952 |
166,003 |
1,177,232 |
|
% change |
37.89 |
41.46 |
41.1 |
36.52 |
39.04 |
Source: ONS, Regional Gross Value Added December 2008
In terms of the GVA per head, Portsmouth performed well in 2006. The value of £20,178 was higher than the South East region and the UK as a whole, with a constant improvement on GVA per head each year.
Gross value added per head at current basic prices in £
|
|
Portsmouth |
Southampton |
Hants & IOW |
South East |
UK |
|
2000 |
15,300 |
15,473 |
13,572 |
15,218 |
14,378 |
|
2001 |
16,376 |
16,089 |
14,347 |
16,088 |
15,040 |
|
2002 |
17,316 |
17,135 |
15,142 |
16,901 |
15,800 |
|
2003 |
18,162 |
18,309 |
16,100 |
17,844 |
16,682 |
|
2004 |
18,959 |
19,467 |
17,097 |
18,804 |
17,577 |
|
2005 |
19,359 |
20,014 |
17,755 |
19,434 |
18,205 |
|
2006 |
20,178 |
20,800 |
18,559 |
20,152 |
19,430 |
|
%change |
31.88 |
34.43 |
36.74 |
32.42 |
35.14 |
Source: ONS, Regional Gross Value Added December 2008
