The Regional Accounts
How we measure regional economic performance
The Regional Accounts provide an overview of the economic performance of the United Kingdom at a regional level. A European classification system called NUTS (Nomenclature of Units for Territorial Statistics) provides the breakdown of UK regions and countries. This allows for a comparable view of economic activity across the European Union. Indicators such as gross value added (GVA) and household income are produced at regional and sub regional levels using a structured accounting framework.
These key macro-economic indicators are used by a wide and varied number of organisations, both within and outside government. For example, the Regional Accounts are supplied to the European Commission and are used in support of the regional funding process.
Within the UK, the Department for Business Enterprise and Regulatory Reform (BERR) and Department of Communities and Local Government (DCLG), use them to produce a variety of regional economic indicators and to inform regional economic policy. The devolved administrations, Regional Development Agencies (RDAs) and Government Offices use the data for assessing the economic activity within their home countries or regions.
Local authorities also use the sub-regional estimates produced for planning and economic assessments of their areas.
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Regional Accounts