Business expenditure on research and development as a proportion of GVA, 2007
The East of England had the second highest employment rate among the English regions and its businesses invested more in research and development than those in any other region.
The East of England is responsible for 9 per cent of the UK’s gross value added (GVA) − a key measure of the economic performance of a region. The region’s headline GVA was £107 billion in 2007.
Productivity, as measured by GVA per hour worked, was one percentage point higher than the UK rate in 2007, the third highest of the English regions. This is the first year that productivity in the East of England exceeded the UK average.
In 2007, businesses in the region spent £4.4 billion on research and development. This was 27 per cent of the UK total and £770 million more than the next highest region, the South East.
Over 77 per cent of East of England’s GVA in 2006 was derived from services, the third highest proportion of all regions. In March 2009, over 19 per cent of employee jobs were in the wholesale and retail sector, higher than any other region.
The East of England was responsible for 12 per cent of the UK’s agriculture and fishing GVA. This was the second highest proportion among the English regions and equal to Scotland.
Manufacturing generated a similar proportion of GVA and employee jobs to the national average.
GVA per head was £18,900 in 2007. This was below the UK average of £20,000 per head but still the fourth highest country or region of the UK. Gross disposable household income (GDHI) in the East of England has remained consistently above the UK average since 1997. At £15,000 per head in 2007, it was the third highest and five percentage points above the UK average. Within the region it ranged from £11,900 in Luton to £17,900 in Hertfordshire.
The employment rate for the region’s working-age residents was second highest among English regions at 77.1 per cent in May to July 2009.This was relatively little down on a year earlier. The unemployment rate (for those aged 16 plus) rose from 5.0 to 6.7 per cent, one of the smallest increases among the regions.
Notes:
GVA is on a workplace basis, which allocates the incomes of individuals to their place of work.
Employment and unemployment rates are seasonally adjusted Labour Force Survey headline indicators.
Services include: Wholesale & retail, Hotels & restaurants, Transport & communication, Financial services, Real estate & other business activities, Public sector, education, Health & social work sectors.
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Regional Trends 41