Page 15 - Regional Employment & Skills Plan

2.6.1 GVA per Head
The GVA per head is a significant indicator as it shows the economic performance of individuals within the sub regions allowing for comparisons with the UK average.
Figure 1: GVA £ per Head
30000
25000
20000
15000
10000
5000
0
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Powys South West Wales
Swansea Bridgend and Neath Port Talbot UK
The region alongside the UK has seen an increase in the GVA values per head since 1997 however the figures remain significantly below the UK average across the time series.
2.6.2 GVA Indexed
The indexed GVA values provide an indication of the economic performance across the region and the UK and relate to relative performance with the UK average of 100. This allows economic performance to be analysed relatively and without the effects of growth.
Figure 2: GVA Indexed
15
120 100 80 60 40 20 0
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Powys South West Wales
Swansea Bridgend and Neath Port Talbot UK
The economic under performance of the region is highlighted when reviewing the indexed GVA values. The region has consistently failed to achieve above 80% of the UK average values across the period 1997 – 2014. The highest performing sub region is Swansea with performs to 74.4% and the lowest was South West Wales with 64%.
Regional Employment & Skills Plan South West & Mid Wales Policy Context