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 2006 Southampton's economy was worth £4,756 million. This was 28.26% more than in 2001. This shows a higher growth in Gross Value Added (GVA) than the South East region (27.29%).

In terms of the GVA per head, Southampton performed well in 2006. The value of £20,800 was the highest amongst the comparator areas, with an improvement of GVA per head by 23.15%. The change in absolute numbers of £3,911 per head was higher than the regional average change of £3,898. The change is measured between the years 2001 and 2006.