Thursday, 22 December 2011

Economic output in Cornwall falls

The Office of National Statistics has just released the 2009 figures for GVA (Gross Value Added). It shows that GVA stood at £7 billion for Cornwall, down 2.6% from the 2008 figure of £7.2 billion.

Cornwall’s per capita GVA equalled £13,129 in 2009, down 2.9% from the 2008 figure. This is equal to 65.6% of the UK average (£20,000). We still lie 36th out of 37 Nuts 2 regions, above West Wales and the Valleys. Cornwall has fared worse than the UK average where total GVA fell by 1.6% and per capita by 2.2%.

Obviously, these figures do not reflect the present situation, and the full impact of the economic downturn and central government cuts which have happened since.

Information from Economic Intelligence, Environment, Planning and Economy, Cornwall Council.

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