Gross Value Added and Gross Domestic Product

The Office for National Statistics (ONS) released latest estimates of Gross Value Added (Balanced) and Gross Domestic Product from 1998 to 2021 for the regions and sub-regions of the UK, including Northern Ireland on the 25th April 2023. 

Regional Gross Value Added (Balanced) 

The current GVA (Balanced) and GDP statistical bulletin and data tables were published on the 25th April 2023.

Headline GVA results

  • The local economy’s workplace GVA, in chained volume measures, increased by 8.3 per cent in ‘real’ terms from 2020 to 2021, which is higher than the overall UK increase of 7.8 per cent
  • Between 2020 and 2021, NI experienced the 6th largest increase in all of the UK’s 12 ITL 1 regions. The North West experienced the largest increase at 9.2%.
  • NI GVA per head in 2021 increased by 6.4 per cent in current basic prices (to £24,007) between 2020 and 2021, meanwhile the UK increased by 7.3 per cent. The North East and Wales had lower GVA per head than Northern Ireland (£21,340 and £22,380 respectively).
  • NI GVA per head was 78.9 per cent of the UK figure which was lower than 2020 (79.5 per cent of UK). 

Headline GDP results

  • Provisional estimates indicate that NI’s GDP, in chained volume measures, increased in ‘real’ terms by 9.0 per cent between 2020 to 2021, the increase in overall UK GDP was 7.5 per cent over the same period.
  • Between 2020 and 2021, all ITL 1 regions experienced an increase in annual GDP.  Northern Ireland experienced the 7th largest increase of the 12 UK ITL 1 regions. The North West experienced the largest increase in real GDP at 9.9%. Meanwhile, Scotland had the lowest annual increase in real GDP over the period at 7.5%.

Current publication and tables

Balanced GVA

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.

Contact Details

Suzanne Bradley

Further Information