This is the total gross value added (GVA) generated from all industries in the area calculated using a balanced approach to GVA. These figures are presented in £ millions at current basic prices. They do not allow for different regional price levels or changes in prices over time (inflation). Balanced GVA estimates are produced by combining the existing income and production GVA estimates using weighted quality metrics. Income GVA estimates are calculated by adding up the income generated by individuals or corporations in the production of goods and services whilst the Production Approach estimates GVA by calculating the total output of goods and services less the value of goods and services used up in the production process. A Balanced approach evaluates the strengths and weaknesses of these two opposing approaches and gives them an appropriate weighting in informing a single ‘balanced’ estimate of GVA. GVA estimates are on a workplace basis, that being they are allocated to where the economic activity took place.Data is Powered by LG Inform Plus and automatically checked for new data on the 3rd of each month.

This is the total gross value added (GVA) generated from all industries in the area calculated using a balanced approach to GVA. These figures are presented in £ millions at current basic prices. They do not allow for different regional price levels or changes in prices over time (inflation). Balanced GVA estimates are produced by combining the existing income and production GVA estimates using weighted quality metrics. Income GVA estimates are calculated by adding up the income generated by individuals or corporations in the production of goods and services whilst the Production Approach estimates GVA by calculating the total output of goods and services less the value of goods and services used up in the production process. A Balanced approach evaluates the strengths and weaknesses of these two opposing approaches and gives them an appropriate weighting in informing a single ‘balanced’ estimate of GVA. GVA estimates are on a workplace basis, that being they are allocated to where the economic activity took place.Data is Powered by LG Inform Plus and automatically checked for new data on the 3rd of each month.