Gross Domestic Product
Gross Domestic Product (GDP) is a measure of total economic activity in an economy. GDP is used for whole-economy comparisons. The workbooks presented in this section present GDP, GDP growth, and GDP per head for the UK. Where available, international comparisons are given and the components of UK GDP presented.
Gross Value Added
Gross Value Added (GVA) is a further measure of economic performance. It is the difference between the value of output produced by a sector or region and its intermediate consumption. Current and future GVA estimates for by region, UK nation and sector can be found by clicking on the Gross Value Added heading above.
Trade
Over the long term, employer demand for skills is derived from demand for goods and services. The level of UK trade is measured in this section via imports and exports (including as a ratio to domestic demand), the balance of payments, and the ratio of trade balance to GDP. Global trade is a process through which the UK can shift its specialisation of production of goods and services, by import substitution and export growth, to generate higher quality jobs.
Click here for the spotlight feature ‘the impact of globalisation on employment and output’ which explores the link between UK trade and employment.
Innovation and Enterprise
The extent and nature of innovation and enterprise within the UK influences the development of productivity and employment, and UK competitiveness. Technological change helps determine the types of goods and services produced and so helps determine UK industrial structure and the nature and quality of jobs on offer. Key innovation and enterprise indicators in this section include research and development expenditure in the UK and comparator countries, and VAT registrations/de-registrations.
Population
Demographic change affects employment and the potential workforce/skills supply. The age structure of the population, historic trends in birth rates, and annual fluctuations in international migration by age and gender all have a part to play. This part of Almanac Online provides population projections, historical trends and population growth rates by age, UK nation, and region.
