[email protected] 01494 568935 Buckinghamshire’s Gross Value Added, 2014 9 December 2015 Buckinghamshire’s gross value added (GVA) rose by 5.1 per cent in 2014 to stand at £14.8bn. This was the 46 th highest rate of growth among the UK’s 173 NUTS3 regions and well above the 4.6 per cent recorded across the country as a whole. Buckinghamshire has seen the 28 th strongest growth amongst NUTS3 areas over the recession, with output increasing 28.7 per cent from 2007 to 2013, above the national and regional levels but below London’s growth of 33.8 per cent. At £28,307, Buckinghamshire’s GVA per capita is the 27 th highest among the 173 NUTS3 regions in the UK, making it one of only 45 to exceed the national level. Table 1: GVA and GVA per capita, 2014 (NUTS 3, 2, 1, 0) Source: Regional Accounts, ONS, 2015 Among NUTS2 areas, Berkshire, Buckinghamshire and Oxfordshire saw GVA rise 4.1 per cent £80.1bn in 2014, below the national rate of increase and ranking only 17 th among the UK’s 40 NUTS2 regions. Despite this slow growth, at £34,230the region’s GVA per capita is the 4 th highest in the UK behind Inner London West and East and North Eastern Scotland. Only two of the UK’s 12 NUTS1 regions better the national level of GVA per capita, with only three (London, East of England and Scotland) seeing growth above the national level as shown in chart 2. The Greater South East’s share of UK GVA rose for an eighth successive year to reach a record high of 45.9 per cent, with London’s share rising to 22.5 per cent. In 2014, the largest contribution to Buckinghamshire’s increased GVA came from real estate with an increase of £233m ahead of business service activities (£177m) and construction (£125m) The only sector to see a fall was public administration where output fell by £40m. Manufacturing GVA rose £23m to £960m but remains 15.9 per cent below 2007’s pre-recession peak. The raw data can be accessed at: http://www.ons.gov.uk/ons/rel/regional- accounts/regional-gross-value-added--income-approach-/december-2015/rft-table-1.xls The ONS’s bulletin on these data is available at: http://www.ons.gov.uk/ons/rel/regional- accounts/regional-gross-value-added--income-approach-/december-2015/stb-regional- gva-dec-2015.html £ Rank 2007 (£m) 2014 (£m) % change Rank Buckinghamshire CC 28,307 27 11,476 14,774 28.7 28 Milton Keynes 39,709 6 7,484 10,294 37.5 7 Berkshire 38,961 7 28,783 34,506 19.9 77 Oxfordshire 30,485 19 15,470 20,501 32.5 16 Hertfordshire 28,363 26 26,426 32,753 23.9 51 West Northamptonshire 24,492 47 8,185 9,471 15.7 112 Luton 22,377 64 4,450 4,721 6.1 164 Bedford 21,241 76 3,044 3,482 14.4 121 Central Bedfordshire 20,200 87 4,286 5,435 26.8 38 North Northamptonshire 19,785 98 5,513 6,483 17.6 99 Berkshire, Buckinghamshire and Oxfordshire 34,230 4 63,214 80,076 26.7 6 Bedfordshire and Hertfordshire 25,791 8 38,206 46,391 21.4 17 Surrey, East and West Sussex 26,384 7 59,005 74,153 25.7 7 Hampshire and Isle of Wight 25,578 10 40,096 49,611 23.7 11 Leicestershire, Rutland and Northamptonshire 22,005 16 32,580 38,683 18.7 21 South East 27,012 2 191,689 239,698 25.0 2 England 25,367 - 1,120,687 1,377,851 22.9 - United Kingdom 24,616 - 1,331,120 1,618,346 21.6 - GVA per capita GVA