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Gross Value Added

Gross Value Added (GVA) is a measure of the value of goods and services produced in the economy. GVA per head is the total divided by the area’s population to enable comparisons to be made between different localities of different sizes. GVA per hour is a measure of labour productivity and is comparable between areas. All GVA data is estimated by the ONS and should therefore be treated with care.

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Line graph shows the trends over time. Use the geography filters to compare different areas and GVA variables to see either per hour, per head or total GVA. Right click the graph to show underlying data. Click to slide 2 for a map of Devon.

About the data

Total output in Devon has grown by 19% between 2012 and 2016 as the economy recovered from the financial crisis is now worth £16.25bn, nearly £2bn more than Bristol and 47% of the Heart of the South West Lcoal Enterprise Partnership (Devon, Somerset, Plymouth, Torbay) output. Driven by extensive job creation over the last few years, the increases in Gross Value Added have not improved productivity, which as measured by GVA per hour remains 18% below the national level; a gap that is wider than it was a decade ago. Between 2015 and 2016 the output gap closed slightly as real productivity in Devon (including Plymouth and Torbay) increased by 2.2% one of the biggest rises in the UK.

Despite this, productivity remains one of the biggest challenges facing the local economy and there is a long way to go to close the gap with the national average. Per head output in Devon is £20,843, again lower than the national average though this masks differences between the districts; with output in Exeter £31,446 higher than the national average and just under twice that of Torridge at £16,094. These differences provide another indication of the impacts of peripherality and productivity on output within the economy. With a fully employed labour market, further increases in GVA are going to have to come from innovation and investment.