Regional Gross Value Added (Balanced)
The current GVA (Balanced) and GDP statistical bulletin and data tables were published on the 30th May 2022.
Headline GVA results
- The local economy’s workplace GVA, in chained volume measures, decreased by 7.9 per cent in ‘real’ terms from 2019 to 2020, which is lower than the overall UK decrease 9.8 per cent
- Between 2019 and 2020, NI experienced the smallest decrease in all of the UK’s 12 ITL 1 regions. The West Midlands experienced the largest decrease at 10.8%.
- NI GVA per head in 2020 decreased by 0.9 per cent in current basic prices (to £23,035) between 2019 and 2020, meanwhile the UK decreased by 3.8 per cent. The North East, Wales and Yorkshire and the Humber had lower GVA per head than Northern Ireland (£20,364, £21,010 and £22,855 respectively).
- NI GVA per head was 79.7 per cent of the UK figure which is higher than 2019 (77.7 per cent of UK).
Headline GDP results
- Provisional estimates indicate that NI’s GDP, in chained volume measures, decreased in ‘real’ terms by 10.5 per cent between 2019 to 2020, the reduction in overall UK GDP was 9.7 per cent over the same period.
- Between 2019 and 2020, all ITL 1 regions experienced a reduction in annual GDP. Northern Ireland experienced the fourth lowest rate of decline of the 12 UK ITL 1 regions. London experienced the lowest decrease in real GDP at 9.9%. Meanwhile, the North East experienced the largest fall in real GDP over the period at 12.0%.
- NI GDP per head in 2020 decreased by 3.7% in current market prices (to £25,575) between 2019 and 2020, over the same period UK GDP per head decreased by 4.8 per cent in current market prices (to £31,972). In terms of GDP per head, Northern Ireland was ranked 10th out of the 12 UK regions in 2020. The North East had the lowest GDP per head at £23,109.
- NI GDP per head was 79.6 per cent of the UK figure which is more than 2019 (78.6 per cent of UK).
Current publication and tables
- Regional Gross Value Added (Balanced) and Gross Domestic Product statistical bulletin and data tables - published 30th May 2022
- Experimental estimates of balanced regional gross value added (GVA), in current prices and GVA per head, for local authority areas, with a broad industry breakdown
Historically ONS compiled estimates of regional gross value added (GVA) using the income approach (as National Statistics) and the production approach (as Experimental Statistics). In this approach ONS have taken the strengths from both approaches and used them to produce a new balanced measure of regional GVA, GVA (B). This will give users a single measure of economic activity within a region, therefore avoiding any confusion from having two different measures of the same thing. As a result, individual bulletins for GVA (I) and GVA (P) have been discontinued.