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Economic Development

Birmingham tops core cities for economic growth

Office for National Statistics says economy in the city grew by 4.2 per cent between 2012 and 2013

Birmingham's economy outperformed its 海角视频 rivals in 2012-13, according to new data

The economy for the greater Birmingham sub-region grew by 2.5 per cent - the best of all the ten 'core city'.

The Office for National Statistics (ONS) said in the latest sub-regional economic output figures for 2013 that the economy grew by 2.5 per cent, above the national figure of 1.6 per cent.

GVA for Birmingham increased by 4.2 per cent between 2012 and 2013, making it the best performing 海角视频 core city.

The figures show that economic output for the Greater Birmingham & Solihull Local Enterprise Partnership area in 2013 was £41.3 billion.

The LEP said this demonstrated that the body and its partners were 23 per cent, or £1.9 billion, towards meeting their target of achieving a net increase of at least £8.25 billion by 2020.

While GVA per head was below the national average at £20,969 in 2013, the GBSLEP area is on target to meet its aim of increasing regional GVA per head to achieve the national average by 2020.

The GBSLEP said it was also the top performing English region in terms of attracting inward investment with direct foreign investments being up by 57 per cent at 77 in 2013.

Chairman Andy Street said: "During the last few years, the GBSLEP and its partners have worked hard to put in place initiatives that create the right economic climate to generate the level of confidence and momentum we need to secure long term growth, and prosperity.