The Regional Accounts

Economics Training – 26th October 2010

What are the SW Regional Accounts?1. Detailed Structural Map of the Economy (2007)

– the linkages between SW industries– how SW industries link into external markets such as

UK regional and international export markets– the connections between the SW industries, the

labour market, and SW household expenditure– An economic impact tool (input-output model)

What are the SW Regional Accounts?2. A Time Series of Key Economic Variables

– GVA, FTE workers, no. of businesses, exports– 111 industries defined by SIC (+29 region only)– SWRDA Priority Sectors– 15 UA/County sub-regions of the SW (not for exports)– Spanning 1998-2008– More detailed by industry than ONS RAs– Importantly, provides comparable estimates of related

variables e.g. FTE, not just GVA on its own.

Statistics you can derive from the RAs• Industrial structure• Measures of productivity • Capital expenditure• Orientation & Nature of Sales & Purchases

– International exports as per FTE– Purchases of goods & services from the SW as a % of

total purchases by industry• Input structure of an industry e.g. expenditure on R&D

Data Sources• Principal source for industry financial data is the ABI/2• ONS Regional Accounts GVA• ONS household accounts• ABI/1 labour market & industry data from NOMIS• Variables derived from Labour Force Survey• Family Expenditure Survey• HMRC data on international exports by region• REWARD project data for emissions and waste• plus lots more……..(see help files)

What are the Benefits of the RAs?• Disparate data within meaningful economic framework• Provides consistency + greater ‘interactivity’ between data• Structure facilitates analysis e.g. impact model• Greater use & scope to existing data, expanding the

evidence-base• Accessible to a wider audience (technical/cost issues)• At a lower cost (data, no duplication, economies of scale)

Availability of the Regional Accounts• Full accounts = stand-alone software called ECON|i • ‘Slimmed down’ accounts = online • FREE of charge to anybody (at the moment…)• Users include

– RDA staff– Local Authorities– Consultants (both in the SW and elsewhere in GB)– Private companies working on in-house research– Academics & students

Show me…..

Training

• Website resources

• Training courses

• EconomyModule@southwestrda.org.uk

• Escr@economicsystems.co.uk

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