Gross Value Added

Gross Value Added (or GVA) is a measure of the size of an economy. It can be produced for the entire economy, a specific area, or a particular sector.

Sources: Cambridge Econometrics / IER Estimates July 2010

Please note: 'Total Value Added includes inputted rent for ownership of dwellings, and CVM residual. CVM = Chained Volume Measure, a constant-price measure of output with 2005 as the base year.