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..Inward InvestmentEconomic Indicators
Liverpool has performed well in recent years in terms of GVA growth reflecting the city's increased economic vitality. Liverpool has exceeded both the national and regional rate of GVA growth in the period 2002-2003 and has also experienced one of the strongest increases of all the core cities.

Gross value added (GVA) 1995-2003 (all GVA at current basic prices)

£ Million

1995

1999

2000

2001

2002

2003

% Change 2002-2003

% Change 1995-2003

Growth p.a. 1995 – 2003

Liverpool

4253

5366

5539

5757

6082

6459

6.2%

51.9%

4.8%

Merseyside

10742

13123

13681

14405

15260

16161

5.9%

50.5%

4.6%

North west

66842

80613

83567

87914

92163

97096

5.4%

45.3%

4.2%

UK

639115

799387

841505

883412

930796

981732

5.5%

53.6%

4.9%
Source: ONS December 2005 extracted from Liverpool Economic Briefing

GVA growth 2002-2003 core cities comparison (NUTS 3 areas See footnote)

GVA growth 2002-2003 core cities comparison (NUTS 3 areas)

Annual % growth 2002-2003

Liverpool

6.2%

Birmingham

5.2%

Bristol

5.8%

Leeds

6.4%

Manchester (Greater Manchester South)*

5.6%

Sheffield

6.0%

Nottingham

6.0%

Newcastle (Tyneside)*

6.4%
Source: ONS 2005 extracted from Liverpool Economic Briefing

* Figures for Manchester and Newcastle city areas are contained within the wider NUTS 3 conurbations of Greater Manchester South and Tyneside respectively which masks direct comparability with other core cities.

Liverpool's GVA per head, whilst growing at a strong rate, remains below the national average of £16,485 and some way below that of some of the best performing core cities.

Gross Value Added (GVA) 2003

 

Liverpool

Merseyside

North West

UK

£ million

6459

16161

97096

981732

£ per head

14619

11846

14269

16485

GVA Index (UK= 100)

91

73

88

100
Source ONS (extracted form Key statistics bulletin - Liverpool City Council May 2006)

Business levels

Liverpool's business base is growing. 2004 ABI data indicates in the region of 12,850 business units now operating in Liverpool. This is a growth of 1.7% since 2003, representing one of the highest annual percentage increases seen in comparator cities. 2004 VAT figures suggest that Liverpool is host to 8040 businesses registered for VAT, marginally higher than 2003 (7,970) also illustrating Liverpool's business base growth.

1998
2000
2001
2002
2003
2004
%
Change 1998 - 2004
%
Change 2003 - 2004
Liverpool
12,379
12,410
12,453
12,247
12,639
12,850
3.8%
1.7%
Bristol
16,210
17,505
17,314
16,822
16,481
16,774
3.5%
1.8%
Manchester
16,439
16,696
16,681
16,646
16,656
16,869
2.6%
1.3%
Sheffield
15,051
15,547
15,704
15,634
15,971
16,272
8.1%
1.9%
Leeds
24,939
25,561
25,541
25,145
25,127
25,298
1.4%
0.7%
Newcastle-upon-Tyne
8,374
8,392
8,329
8,528
8,612
8,589
2.6%
-0.3%
Birmingham
31,726
32,110
31,831
31,825
32,012
32,098
1.2%
0.3%
Nottingham
9,760
10,046
10,022
9,815
9,871
9,883
1.3%
0.1%
Merseyside
35,806
37,638
38,169
38,224
36,284
36,492
1.9%
0.6%
North West
218,128
225,483
227,043
225,596
229,329
232,797
6.7%
1.5%
GB
2,061,767
2,160,147
2,171,228
2,180,480
2,211,774
2,235,348
8.4%
1.1%
Source: Annual Business Inquiry, ONS (Nomis) December 2005

Liverpool VAT stock at end of year

vat levels
VAT Nomis Crown copyright extracted August 2006
The figures are based on Stock (at end of year)

Vat registration and deregistration information can give an estimate of the pattern of business start ups and closures in Liverpool. Liverpool's VAT registrations have ranged between 825 and 995 per year since 1994 with relatively strong performance in recent years (995 and 950 registrations in 2003 and 2004 respectively). As a percentage of stock, Liverpool registrations are above Merseyside, North West and GB averages.

Liverpool VAT Registrations and Deregistration as a % of stock 2004

Liverpool VAT Registrations and Deregistration as a % of stock 2004

 

Liverpool

Merseyside

North West

GB

Registrations

11.92

10.95

10.25

10.08

Deregistration

11.04

10.15

9.82

9.94

VAT Registrations as a % of total stock at year start

Registration

Liverpool

Merseyside

North West

GB

1995

12.39

11.31

9.94

10.12

1996

11.87

11.18

10.11

10.40

1997

12.29

12.28

11.11

11.33

1998

12.68

11.83

10.88

11.06

1999

11.29

11.17

10.31

10.49

2000

11.75

11.17

10.39

10.45

2001

10.78

10.74

9.84

9.74

2002

10.86

10.47

10.28

10.05

2003

12.80

11.90

10.86

10.67

2004

11.92

10.95

10.25

10.08
NOMIS 2006

VAT Deregistration as a % of total stock at year start

 Deregistration

Liverpool

Merseyside

North west

GB

1995

12.59

12.60

10.86

10.13

1996

10.85

11.32

9.92

9.42

1997

11.07

10.62

9.73

9.01

1998

11.07

10.49

9.54

8.78

1999

10.70

9.74

9.30

8.82

2000

11.23

9.92

9.45

8.97

2001

9.74

8.89

9.05

8.76

2002

10.86

9.95

9.24

8.90

2003

10.35

9.76

9.43

9.45

2004

11.04

10.15

9.82

9.94
NOMIS 2006

A monitor of employment and wealth generation; Liverpool Economic Briefing is produced by Liverpool City Council on an annual basis providing further detailed information on the number of business units in Liverpool.

In addition The Mersey Partnership publishes an annual Merseyside Economic Review which provides a wealth of economic development information for Merseyside and areas within it.

NUTS 3 areas (Nomenclature of Units for Territorial Statistics (NUTS) is a classification for the purpose of producing comparable regional statistics)