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This was a slowing in the UK growth rate following a relatively strong Quarter 3 (July to Sept). Gross domestic product (GDP) measures the value of goods and services produced in the UK. Here you have the comparison between Switzerland vs United States . There were six more regions in the EU where GDP was in excess of EUR 200 billion, all of which could also be characterised as major hubs of business activity: Düsseldorf, Stuttgart and Darmstadt (in Germany), Comunidad de Madrid and Cataluña (in Spain) and Rhône-Alpes (in France). While the data sources and methods used in both our regional and national estimates of gross domestic product (GDP) are broadly similar, there are some clear differences. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). This well-known balance has traditionally been divided by the total number of inhabitants to create a proxy measure for analysing overall living standards, namely, GDP per inhabitant. Economics expert David Skilling estimated that Scotland's GDP per capita to be $39,337 (£29,282) in 2017 - slightly lower than that of the UK and below that in 13 other comparator countries. The Gross Domestic Product (GDP) in Netherlands was worth 909.07 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. European system of national and regional accounts (ESA 2010), European system of national and regional accounts in the European Union, GDP and beyond: measuring progress in a changing world, Transforming our world: the 2030 agenda for sustainable development, A decent life for all: ending poverty and giving the world a sustainable future, A decent life for all: from vision to collective action, A global partnership for poverty eradication and sustainable development after 2015, Europe investing again — taking stock of the investment plan for Europe, Strengthening European investments for jobs and growth: towards a second phase of the European Fund for strategic investments and a new European external investment plan, multiannual financial framework covering the period 2021-2027, small and medium-sized enterprises (SMEs), European system of national and regional accounts — ESA 2010, GDP per capita, consumption per capita and price level indices, EURONA: the Eurostat review on national accounts and macroeconomic indicators, Latest quarterly news releases and news items for national accounts (GDP and employment), Regional statistics by NUTS classification (reg), National accounts (including GDP and regional accounts), Methodological manual on territorial typologies, European Commission — Economic and financial affairs, European Commission — EU regional and urban development, European Commission — European Structural and Investment Funds, European Commission — InvestEU programme (2021-2027), European Commission — New cohesion policy, European Commission — 2030 agenda for sustainable development, https://ec.europa.eu/eurostat/statistics-explained/index.php?title=GDP_at_regional_level&oldid=499702. 2005. While spending on research and development can help improve competitiveness, the report said Scotland was "in the bottom third of the advanced economies group in terms of total R&D spending, at 1.5% of GDP in 2016". One can use GDP per capita in dollar terms to compare incomes across countries. Assaults: Number of assaults recorded by police in that country per 100,000 population. World Population Prospects, (2) United Nations Statistical Division. This pattern was repeated in a majority of multi-regional EU Member States in 2017: Figure 2 shows that the only exceptions were Oberbayern (that had the highest level of compensation per hour worked in Germany), Dytiki Makedonia (Greece), País Vasco (Spain), Jadranska Hrvatska (Croatia) and Provincia Autonoma di Bolzano/Bozen (Italy). The data for statistical regions in the EFTA and candidate countries are often unavailable and have been replaced (where appropriate) by national aggregates. The use of PPS series, rather than euro-based series, tends to have a levelling effect, as countries and regions with very high GDP per inhabitant in euro terms also tend to have relatively high price levels (for example, the cost of living in Luxembourg is generally much higher than the cost of living in Bulgaria). This was followed in 2016 by two further Communications following a stock-taking exercise to analyse the progress made during the first two years of the investment plan: Europe investing again — taking stock of the investment plan for Europe (COM(2016) 359 final) and Strengthening European investments for jobs and growth: towards a second phase of the European Fund for strategic investments and a new European external investment plan (COM(2016) 581 final). Source tables. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. GDP growth in Scotland has averaged 1.4% since 2000, the report said, putting the country "near the bottom of the small advanced economies group". Usage implies agreement with terms. These are statistics that are in the testing phase and not yet fully developed. ; World Development Indicators database; United Nations Statistics Division. Almost half (46.9 %) of the total value added that was generated in Luxembourg came from financial and insurance services, real estate, professional, scientific and technical activities. We would like to use cookies to collect information about how you use ons.gov.uk. Of the four countries of the UK, in Quarter 4 (Oct to Dec) 2018, gross domestic product (GDP) growth was highest in Wales (0.3%) and lowest in England (0.1%) and Northern Ireland (0.1%). The GDP per Capita in Switzerland is equivalent to 629 percent of the world's average. More information about the drivers for these changes can be found in the datasets that accompany this publication, and the data published by the Scottish Government and the Northern Ireland Statistics and Research Agency (NISRA). All content is available under the Open Government Licence v3.0, except where otherwise stated, /economy/grossdomesticproductgdp/bulletins/gdpukregionsandcountries/octobertodecember2018, Figure 1: All countries in the UK had positive growth in Quarter 4 (Oct to Dec) 2018, Figure 2: In Quarter 4 (Oct to Dec) 2018, growth was highest in the South East and lowest in the North West, Quarter 3 (July to Sept) 2018 and Quarter 4 (Oct to Dec) 2018, Table 1: Percentage growth in the countries and regions of the UK, Figure 3: East of England and the South West had negative growth in Quarter 4 (Oct to Dec) 2018 compared with the same quarter a year earlier, Methodology used to produce these estimates, Northern Ireland Statistics and Research Agency (NISRA), Inter-Departmental Business Register (IDBR), quality assurance of administrative data (QAAD) report for VAT data, Regional economic activity by gross value added (balanced), UK: 1998 to 2017. To do so she called, among other actions, for a deepening of economic and monetary union, greater support for small and medium-sized enterprises (SMEs), the full implementation of the European pillar of social rights, and fairer taxation. This article forms part of Eurostat’s annual flagship publication, the Eurostat regional yearbook. Regional GDP per inhabitant was generally highest in capital regions, which often act as hubs of business (and cultural) activity. At the other end of the range, there were 15 NUTS level 2 regions in the EU where labour productivity was less than EUR 10.0 per hour worked in 2017, all located in Bulgaria, Romania or Poland. For instance, the ratio falls when there is a shift from full-time to part-time work. We continue to examine the impact of the range of different methods before deciding which one is best suited to these data in advance of applying to be assessed as National Statistics. In its Communication An investment plan for Europe (COM(2014) 903 final), the European Commission underlined the role that EU Member States and regional authorities should play to get the maximum impact from structural funds by capitalising on a variety of financial instruments in the form of loans, equity and guarantees. Quarterly economic activity within the countries of the UK (England, Wales, Scotland and Northern Ireland) and the nine English regions (North East, North West, Yorkshire and The Humber, East Midlands, West Midlands, East of England, London, South East, South West). To learn more about cookies, click here. The only exceptions (among the multi-regional EU Member States) were: Oberbayern (Germany), Southern (Ireland), País Vasco (Spain), Jadranska Hrvatska (Croatia), Provincia Autonoma di Bolzano/Bozen (Italy) and Vorarlberg (Austria). Composition, by end use > Government consumption : This entry is derived from Economy > GDP > Composition, by end use, which shows who does the spending in an economy: consumers, businesses, government, and foreigners. A full list of other data sources is included in the methodology article. Those regions considered as relatively ‘rich’ — where GDP per inhabitant was above the EU-27 average — are shown in blue. Regional accounts are important in this context, in that they are used to determine the extent to which EU Member States should contribute towards the EU’s budget, while also serving as a key element when deciding upon the regional allocation of cohesion policy expenditure. Auto theft: 293.1 Ranked 9th. North Sea optimism 'returning as oil price rises', Heathrow's third runway given go-ahead by ministers, Life sciences company to create 200 jobs this year as it expands its Covid-19 sample testing, The company is scaling up operations at its Perth plant, Grand Theft Auto developer buys Dundee's Ruffian Games, Ruffian Games will now be rebranded as Rockstar Dundee, Gourmet Burger Kitchen to close 26 restaurants and axe hundreds of roles, The burger chain has restaurants in Edinburgh and Glasgow, Bus operators to share £52.6m to cover lost income during Covid-19 crisis, Transport Secretary Michael Matheson announced the additional funding today, Construction starts on flexible office space at Glasgow's The Garment Factory, The Garment Factory has been designed for a 'post-pandemic world', Government urged to provide travel firms with 'basic tools' during pandemic, Only 15% of of people went on a foreign holiday between February and July, Asos profits quadruple during the pandemic, Pre-tax profits soared to £142.1m last year, More than 46 million takeaways ordered through Just Eat, The company signed up big names including McDonald's and Greggs, Airport boss calls for widespread Covid-19 testing, Jobs at risk at pub chain Mitchells & Butler, The company employs 44,000 people across the UK, £4m funding boost for Edinburgh Trams and Glasgow Subway, The new package has been granted to support the services during the pandemic, Holyrood should decide Scotland's relationship with the EU, say 74% of Scots, Angus Robertson is pushing for an economic case to be me made for independence, Folk music pub holds 'silent sessions' in protest over performance ban, Edinburgh's Caoptains Pub regularly held music before the pandemic but is now suffering, SSE signs £1bn deal to sell off two power plants, The company will sell off two of its Yorkshire power plants, French Connection sees losses hit £13.2m amid coronavirus crisis, French Connection closed all of its stores between March 23 and June 15, Scottish employment rose during last quarter, Employment rose across the last quarter but estimates suggest the figure fell in September, Plastic straws could be banned soon be banned across Scotland, Businesses have been asked to take part in a consultation on single-use plastics.

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