2006

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Theme	Environment>> Economic
Sub-theme	<<Employment and income Jobs business and industry
Indicator	<<Commercial and industrial floorspace Enterprises and local units - by broad industry group>> Economic growth
Analysis	2007 >> 2006

Source	Office for National Statistics / Local Knowledge
Date Released	July 2009
National Indicators	N/A
Hampshire LAA targets	N/A
Date range	1996 - 2006

Data Time Series Comparisons Commentary Confidence Levels Notes

Commentary

The level of Gross Value Added (GVA) can provide an indication of the level of productivity. GVA indicates the extent and value of economic activity by measuring the production of goods and services and the contribution to the economy of each individual producer, industry or sector in the United Kingdom.

GVA measures the contribution to the economy of each individual producer, industry or sector in the UK. GVA is used in the estimation of Gross Domestic Product (GDP). The link between GVA and GDP can be defined as: GVA (at current basic prices) plus taxes on products less subsidies on products = GDP. In summary, GVA + taxes on products - subsidies on products = GDP.

Increase of GVA features in the South East of England Development Agency (SEEDA) Regional Economic Strategy 2006-2016. Two of the three RES headline targets:

to achieve an annual average increase in Gross Value Added per capita of at least 3%, and
to increase productivity per worker by an average of 2.4% annually.

The Regional Economic Strategy for the South East can be found on the SEEDA website at:
http://www.seeda.org.uk/RES_for_the_South_East_2006-2016/RES_2006-2016/

Within the RES, eight Diamond for Investment and Growth Areas are designated. These areas are identified as having the greatest potential for significant contributions to economic growth and sustainable prosperity in the South East region. One of the three strategic objectives for the Diamond Areas is for the Diamonds to collectively aim to generate 45% of the South East`s GVA growth to 2016. More information can be found at:
http://www.southeastdiamonds.org.uk/

Confidence Levels

GVA is officially calculated by the Office for National Statistics at national (UK and England), regional, and Unitary level. ONS do not produce a local authority district level equivalent.

The GVA indicator from Local Knowledge is modelled on workplace based earnings from ASHE, based on a weekly earnings index that is applied to each local authority earnings level. Care must be taken when interpreting the data at district level. Headline results, from which the data below is taken, is calculated using a five year moving average. This is calculated to reduce year on year volatility caused by sampling in the data sources.

Data

The latest data for Basingstoke and Deane (2006) shows the level of GVA locally exceeds county and national averages and is similar to the South East average.

Gross Value Added per capita 2006
Basingstoke and Deane	Hampshire CC	South East	England	UK
21,273.4	18,568.0	20,152.0	19,413.0	19,430.0

Time Series

As GVA is a new analysis for the Profile Online, compilation of a time series analysis will commence with the latest data available. At present, comparable data is available for 2006 and 2005 as shown below.

Gross Value Added per capita	2005	2006
Basingstoke and Deane	21,822.3	21,273.4
Hampshire CC	17,811.0	18,568.0
South East	19,434.0	20,152.0
England	18,267.0	19,413.0
UK	18,205.0	19,430.0

Comparisons

Within the South East there are two natural comparator groups of local authorities with whom Basingstoke and Deane could compare. Analysis of the borough`s position with respect to the Western Corridor and Blackwater Valley, and the borough`s nearest geographical neighbours, can be seen below. It should be remembered that, at district level, GVA data as given by Local Knowledge will also be influenced by average earnings of people who work within each local authority area. Those areas with higher workplace based earnings levels are likely to have increased estimates of GVA.

Gross Value Added per capita 2006 (Source: Local Knowledge)
Western Corridor & Blackwater Valley authorities and all Hampshire
Windsor and Maidenhead	44389.88
West Berkshire	38363.29
Wokingham	37772.33
Bracknell Forest	34300.43
Reading	31721.13
Guildford	30371.51
Wycombe	29748.32
Surrey Heath	28058.30
Hart	24383.20
East Hampshire	21705.21
Winchester	21625.97
Basingstoke and Deane	21273.40
Eastleigh	20215.67
South East	20152.00
UK	19430.00
England	19413.00
Test Valley	18884.60
Hampshire CC	18568.00
Fareham	18516.18
New Forest	17989.29
Southampton	17986.12
Rushmoor	17898.18
Portsmouth	17852.94
Havant	17351.49
Gosport	16186.80

Secondly, it can be helpful to set the borough in context with the Diamond for Growth authority areas. Again the same caveats apply when comparing one local authority area to another.

Gross Value Added per capita 2006 (Source: Local Knowledge) Diamonds for Growth
Diamond area	local authorities within Diamond	2006
Basingstoke and Deane	Basingstoke and Deane	21273.4
Partnership for Urban South Hampshire (PUSH)	East Hampshire	21705.21
	Eastleigh	20215.67
	Fareham	18516.18
	Gosport	16186.8
	Havant	17351.49
	New Forest	17989.29
	Portsmouth	17852.94
	Southampton	17986.12
	Test Valley	18884.6
	Winchester	21625.97
Brighton & Hove	Brighton & Hove	20025.18
Thames Gateway/Kent	Medway Towns	12609.11
	Gravesham	15385.54
	Swale	15055.25
	Dartford	16743.79
Gatwick	Crawley	19234.78
	Horsham	24295.69
	Lewes	15668.51
	Mid Sussex	22504.4
	Mole Valley	28881.73
	Reigate and Banstead	29162.55
	Tandridge	28210.61
Reading	Reading	31721.13
	Wokingham	37772.33
	West Berkshire	38363.29
Central Oxfordshire	Cherwell	24640.14
	Oxford	23330.56
	South Oxfordshire	30281.38
	Vale of White Horse	27440.61
	West Oxfordshire	24070.98
Milton Keynes & Aylesbury Vale	Milton Keynes	30221.57
Milton Keynes & Aylesbury Vale	Aylesbury Vale	25624.55