Value of the goods and services produced in North East
Gross Value Added (GVA) is the value of the goods and services produced in a region or sector minus any intermediate goods and services. There are a number of different ways of calculating GVA. This page provides the headline balanced GVA measure produced using estimates from gross value added income (GVA(I)) and gross value added production (GVA(P)).
In 2018, the GVA of North East LEP area was £40.9 billion. This is equivalent to 2.5% of English GVA. Over time, the GVA of the North East LEP area has been increasing. However, the North East LEP’s GVA has been growing more slowly than England excluding London and England. Between 2008 and 2018, the North East’s GVA increased by 23%, compared to 32% across England excluding London and 35% across England as a whole. The North East had the lowest percentage change in GVA in this period among the 8 Core City LEPs.
Source: Regional gross value added (balanced approach) (ONS, Last updated: 19 December 2019)
Source: Regional gross value added (balanced approach) (ONS, Last updated: 19 December 2018)
Data information: Based on North East LEP, England and England excluding London