Wales

GVA: Wales economy adds least gross value added in UK

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Media captionBBC Wales economics correspondent Sarah Dickins says the Welsh economy is driving faster - but is still behind in the race

Wales is still the worst performing part of the UK in terms of money generated by its economy, official figures show.

The gross value added (GVA) statistics show the value of wages and profits from goods and services produced.

The figures show Wales had the UK's lowest GVA per head at £16,893 in 2013 while London had the highest at £40,215.

But Wales and north west England showed the biggest growth at 3.4%.

The figures were released by the Office for National Statistics (ONS).

Wales also had the UK's worst performing sub-region - west Wales and the Valleys at £14,763 - and the lowest GVA at local area level, Anglesey with £11,368 per head.

That was less than half the figure of the best performing area of Wales - Cardiff and the Vale of Glamorgan with GVA per head of £22,986.

'Performing strongly'

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Media captionStephen Crabb says Wales is catching up with the rest of the UK

Welsh Secretary Stephen Crabb welcomed the news that Wales was one of the fastest-growing regions despite facing a challenge to "catch up" with the rest of the UK.

A Welsh government spokesperson said it was clear that Wales was "performing strongly" compared to other parts of the UK.

"Since devolution, household income in Wales has risen faster than the UK average; employment in Wales has significantly outperformed the UK; exports have doubled and inward investment into Wales is now at a record level," the spokesperson added.

GVA is the value of everything generated by all types of production and is regarded as a good indicator of the strength of the economy.

It is income based, and its value forms part of the UK's calculation for its gross domestic product (GDP).

Wales does not have its own GDP as it does not collect income tax or VAT separately.

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