This was only the 104th highest rate of growth among the UK’s 173 NUTS3 regions.  Buckinghamshire has now failed to match the national rate of growth in eight of the last 11 years.  Despite this, Buckinghamshire’s economic growth has been 40th strongest in the UK since the recession, growing by more than a quarter (25.6 per cent) since 2007.

Table 1: GVA and GVA per capita, 2015 (NUTS 3, 2, 1, 0)

Source: Regional Accounts, ONS, 2016

At £28,825, Buckinghamshire’s GVA per capita is the 30th highest in the UK, 12.6 per cent above the national level and 1.1 per cent higher than in 2014.  Buckinghamshire’s lead over the country as a whole has fallen for three successive years having been 14.6 per cent above in 2012.

Over the last year, information and communication has been the sector showing the strongest growth in Buckinghamshire, rising 17.0 per cent, ahead of public administration, education and health (9.5) and other services (4.0).  Manufacturing output grew 1.1 per cent, a third successive rise, to reach £932m, the highest level since 2009 but still well below the £1,537m of 1998. 

By region, despite the North West recording the strongest annual growth at 3.6 per cent, the Greater South East’s share of national GVA increased for a ninth successive year, reaching 44.6 per cent of the UK total, led by the strength of London’s economic performance since the recession.

The raw data can be accessed at: https://www.ons.gov.uk/economy/grossvalueaddedgva/datasets/regionalgrossvalueaddedincomeapproach

The ONS’s bulletin on these data is available at: https://www.ons.gov.uk/economy/grossvalueaddedgva/bulletins/regionalgrossvalueaddedincomeapproach/december2016

Chart 1: % GVA change to 2015 by sector

Source: Regional Accounts, ONS, 2016

Chart 2: % GVA change to 2015 by sector

Source: Regional Accounts, ONS, 2016