Output data – Cornwall and the Isles of Scilly

The Office for National Statistics released data for both Gross Domestic Product (GDP) and Gross Value Added (GVA) on September 23rd.  The data set covers the years 1998 to 2024.  GDP and GVA are measures showing the value of output in an economy.  GVA data is available for Cornwall and the Isles of Scilly. The data used is the ‘chained volume measure’ where values are in real terms as opposed to nominal and are expressed in 2023 prices. 

The retail sector

 

What do the figures tell us?

 Total GVA, excluding the Owner Occupier Imputed Rental figure for 2024 was £12,283 million. This figure is excluded as it is an accounting figure and does not measure actual output. 

 

The main sectors were: Human health and social work activities - £1,494 million (12.2%), Wholesale and retail trade; repair of motor vehicles - £1,479 million (12.0%), Construction £1,224 million (10%), Public administration and defence £1,031 million (8.4%), and Manufacturing £1,013 million (8.2%). 

 

Drilling down into the data gives the following picture: -

Retail trade 6.4%, Agriculture £658 million (5.4%), Specialised construction activities 4.4%), Wholesale trade 3.4%, Construction of buildings (3.4%), Manufacture of food, beverages 2.4%, Social work activities (2.3%. 

 

Notes

GDP

Gross domestic product (GDP) measures the value of goods and services produced in the UK. It estimates the size of and growth in the economy.

 

Gross value added (GVA)

The value generated by any unit engaged in production and the contributions of individual sectors or industries to gross domestic product.

  

These tables provide estimates of gross value added (GVA) derived by balancing the income and production approaches to measuring GVA. They show economic activity for ITL1, ITL2 and ITL3 regions of the United Kingdom as current price (nominal or value) and 'real' (chained volume) measures.

 

These data are classified as accredited official statistics, according to the Code of Practice for official statistics. [ONS].

  

Source

Office for National Statistics (ONS), released 23 September 2026, ONS website, statistical bulletin, Regional economic activity by gross domestic product, UK: 1998 to 2024.

 

Regional gross value added (balanced) by industry: all International Territorial Level (ITL) regions.  Table 2b: ITL2 chained volume measures in 2023 money value, pounds million.