This table provides information in numbers and percentages on Gross Value Added (GVA) per Industrial Sector for the South East and Milton Keynes from 1997-2011 at current basic prices in England. Components may not sum due to rounding. Methodological changes have been introduced in this publication. The principal change was the introduction of independent measures of residence and workplace compensation of employees, using only data collected on the appropriate basis. A further change improved the regional allocation of gross trading profits through the use of data from the Annual Business Survey. Gross Value Added (GVA) measures the contribution to the economy of each individual producer, industry or sector in the United Kingdom. GVA is used in the estimation of Gross Domestic Product (GDP). GDP is a key indicator of the state of the whole economy. In the UK, three theoretical approaches are used to estimate GDP: ‘production’, ‘income’ and ‘expenditure’. When using the production or income approaches, the contribution to the economy of each industry or sector is measured using GVA. The link between GVA and GDP can be defined as GVA (at current basic prices; available by industry only) plus taxes on products (available at whole economy level only) less subsidies on products (available at whole economy level only) equals GDP (at current market prices; available at whole economy level only). GVA + taxes on products – subsidies on products = GDP
Identification Number: PE120
Authoring Entity: Office of National Statistics (ONS)
Producer: Milton Keynes Council
Copyright: © Crown copyright 2013. Crown copyright material is reproduced with the permission of the Controller of HMSO.
Date of Production: 2012-12-11