The Office for National Statistics (ONS) released latest estimates of Gross Value Added (Balanced) and Gross Domestic Product from 1998 to 2023 for the regions and sub-regions of the UK, including Northern Ireland on the 17 April 2025.
Regional Gross Value Added (Balanced)
The current GVA (Balanced) and GDP statistical bulletin and data tables were published on the 17 April 2025.
Headline GVA results
- The local economy’s workplace GVA, in chained volume measures, increased by 1.5% in ‘real’ terms from 2022 to 2023, which was higher than the UK increase (0.3%).
- Between 2022 and 2023, all ITL (International Travel) 1 regions experienced an increase in GVA except for Wales. NI experienced the second largest increase of the UK’s 12 ITL 1 regions (1.5%). North East experienced the largest increase at 1.8%.
- NI GVA per head in 2023 increased by 10.2% in current basic prices (to £29,234) between 2022 and 2023, meanwhile the UK increased by 7.7%.
- NI GVA per head was 81.0% of the UK figure.
Headline GDP results
- Provisional estimates indicate that NI’s GDP, in chained volume measures, increased in ‘real’ terms by 2.1% between 2022 to 2023, the increase in overall UK GDP was 0.3% over the same period.
- Between 2022 and 2023, at the International Territorial Level (ITL) 1, the largest increase in real GDP in 2023 was in Northern Ireland at 2.1%, followed by the North East at 1.7%. The smallest increase in 2023 was in the South East at 0.0% followed by the East Midlands at 0.1%.
Current publication and tables
- Regional economic activity by gross domestic product, UK - Office for National Statistics (ons.gov.uk)
- Regional gross value added (balanced) per head and income components - Office for National Statistics (ons.gov.uk)
- Regional gross value added (balanced) by industry: all ITL regions - Office for National Statistics
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
Evan Elwood
Email: Evan.Elwood@nisra.gov.uk
X: @NISRA