Current Issues Note 41: Regional, sub-regional and local gross value added estimates for London, 1997-2012

•In 2012, London’s total nominal output (as measured by GVA(I)) was over £309 billion (up 2.0 per cent on 2011). Inner London accounts for 70 per cent of this output, with Inner London-West alone accounting for 45 per cent of the total output. •London now accounts for 22.4 per cent of the UK’s total output. •In 2011, a fifth of London’s output was generated by the financial and insurance industry, accounting for just over a half of the UK’s total output in the industry and 4.5 per cent of the UK’s total output. •In 2011, Inner London produced 95 per cent of London’s output in the financial and insurance industry, and over three-quarters of its output in professional/scientific/technical, information/communication, and real estate industries. Outer London hosted over half of London’s output in three industries (transport/storage, construction, and manufacturing).