Gross value added

Gross Value Added (GVA) is an indicator of economic prosperity. It measures the contribution to the economy of each individual producer, industry or sector. This measure is applicable to the UK.

GVA is the difference between gross ouput and intermediate inputs. Gross outputs of a production unit during a given period is equal to the gross value of the goods and services produced during the period and recorded at the moment they are produced, regardless of whether or not there is a change of ownership. Intermediate inputs refer to the value of goods and serices used in the production process during the accounting period.

In 2008 Southampton's economy was worth £4,942 million, which was 47% more than in 2000. In terms of the GVA per head, Southampton performed well in 2008. The value of £21,109 is inline with the UK average, with an improvement of GVA per head by 36% (compared with the 2000 figure).