Economy, jobs and prices in South West, United Kingdom: official figures
Gross domestic product in the South West was £37,769 per resident in 2024 at current prices, 3rd highest of 9 English regions and below the UK figure of £41,627.
Is the economy of the South West growing?
After removing inflation, output per head in the South West grew by 8.3% between 2014 and 2024, against 7.8% for England as a whole.
Source: Office for National Statistics · saved copyWhat is the average household income in the South West?
Households in the South West had £25,924 of disposable income per person in 2024 after taxes and benefits, 97.9% of the English average (£26,490) and 4th highest of 9 regions.
Source: Office for National Statistics · saved copyWhat is the average salary in the South West?
The median full-time and part-time employee living in the South West earned £614 a week before tax in April 2025 (ONS Annual Survey of Hours and Earnings), 4th lowest of 9 regions; England's median was £648. Weekly pay has risen 54.0% since 2015.
Source: Office for National Statistics · saved copyWhat is the unemployment rate in the South West?
78.8% of people aged 16 to 64 in the South West were in work in 2023 (2nd highest of 9 regions), while the modelled unemployment rate was 2.5% (England: 76.0% and 3.7%).
Source: Office for National Statistics · saved copyHow productive is the South West?
Each hour worked in the South West produced £38.75 of gross value added in 2023, 5th most productive of 9 English regions (England £42.39).
Source: Office for National Statistics · saved copyHow many businesses are there in the South West?
The South West had 232,765 active businesses in 2024, 9.2% of England's total; new firms were 9.6% of the stock that year and 58.1% of businesses born in 2021 were still trading three years later.
Source: Office for National Statistics · saved copyHow much does the South West export?
Exports of goods and services from the South West were worth £48.4 billion in 2023, and foreign companies held £64.6 billion of direct investment there in 2024 (3.3% of England's inward FDI).
Source: Office for National Statistics · saved copyHow many jobs are there in the South West?
There were 0.88 jobs for every resident aged 16 to 64 in the South West in 2024 (England 0.86), and businesses spent £4,060 million on research and development there in 2024.
Source: Office for National Statistics · saved copyHow South West compares with other region of Englands
GDP per head (current prices) (2024)
South West ranks 3 of 9, highest first. The 9 regions of England only; Scotland, Wales and Northern Ireland are compared on their own pages.
| Rank | Region | GDP per head (current prices) |
|---|---|---|
| 1 | London | £72,201 |
| 2 | South East | £43,178 |
| 3 | South West | £37,769 |
| 4 | East of England | £36,942 |
| 5 | North West | £36,926 |
| 6 | Yorkshire and the Humber | £34,041 |
| 7 | West Midlands | £33,969 |
Gross median weekly pay, residents (2025)
South West ranks 6 of 9, highest first. The 9 regions of England only; Scotland, Wales and Northern Ireland are compared on their own pages.
| Rank | Region | Gross median weekly pay, residents |
|---|---|---|
| 3 | East of England | £671 |
| 4 | West Midlands | £620 |
| 5 | North West | £616 |
| 6 | South West | £614 |
| 7 | East Midlands | £606 |
| 8 | Yorkshire and the Humber | £600 |
| 9 | North East | £578 |
Gross disposable household income per head (2024)
South West ranks 4 of 9, highest first. The 9 regions of England only; Scotland, Wales and Northern Ireland are compared on their own pages.
| Rank | Region | Gross disposable household income per head |
|---|---|---|
| 1 | London | £36,487 |
| 2 | South East | £29,577 |
| 3 | East of England | £26,795 |
| 4 | South West | £25,924 |
| 5 | East Midlands | £22,761 |
| 6 | North West | £22,523 |
| 7 | West Midlands | £22,064 |
Employment rate, ages 16 to 64 (2023)
South West ranks 2 of 9, highest first. The 9 regions of England only; Scotland, Wales and Northern Ireland are compared on their own pages.
| Rank | Region | Employment rate, ages 16 to 64 |
|---|---|---|
| 1 | South East | 79.3% |
| 2 | South West | 78.8% |
| 3 | East of England | 77.5% |
| 4 | East Midlands | 75.5% |
| 5 | West Midlands | 75.2% |
| 6 | London | 74.6% |
| 7 | Yorkshire and the Humber | 74.2% |
GDP per head (£, current prices) (2024)
South West ranks 4 of 12, highest first.
| Rank | Region | GDP per head (£, current prices) |
|---|---|---|
| 1 | London | £72,201 |
| 2 | South East | £43,178 |
| 3 | Scotland | £39,441 |
| 4 | South West | £37,769 |
| 5 | East of England | £36,942 |
| 6 | North West | £36,926 |
| 7 | Northern Ireland | £35,108 |
Gross disposable household income per head (£) (2024)
South West ranks 4 of 12, highest first.
| Rank | Region | Gross disposable household income per head (£) |
|---|---|---|
| 1 | London | £36,487 |
| 2 | South East | £29,577 |
| 3 | East of England | £26,795 |
| 4 | South West | £25,924 |
| 5 | Scotland | £24,283 |
| 6 | East Midlands | £22,761 |
| 7 | North West | £22,523 |
Median gross weekly pay of residents (£) (April 2025)
South West ranks 7 of 12, highest first.
| Rank | Region | Median gross weekly pay of residents (£) |
|---|---|---|
| 4 | Scotland | £642.9 |
| 5 | West Midlands | £619.7 |
| 6 | North West | £615.9 |
| 7 | South West | £613.6 |
| 8 | East Midlands | £605.9 |
| 9 | Wales | £601.8 |
| 10 | Yorkshire and the Humber | £600.0 |
Gross value added per hour worked (£) (2023)
South West ranks 6 of 12, highest first.
| Rank | Region | Gross value added per hour worked (£) |
|---|---|---|
| 3 | Scotland | £41.28 |
| 4 | East of England | £39.69 |
| 5 | North West | £39.31 |
| 6 | South West | £38.75 |
| 7 | Northern Ireland | £36.88 |
| 8 | Yorkshire and the Humber | £36.82 |
| 9 | West Midlands | £36.02 |
Employment rate, ages 16 to 64 (%) (2023)
South West ranks 2 of 12, highest first.
| Rank | Region | Employment rate, ages 16 to 64 (%) |
|---|---|---|
| 1 | South East | 79.3% |
| 2 | South West | 78.8% |
| 3 | East of England | 77.5% |
| 4 | East Midlands | 75.5% |
| 5 | West Midlands | 75.2% |
| 6 | Scotland | 74.7% |
| 7 | London | 74.6% |
More on South West: overview · health · education and schools · poverty and living standards · government budget · government and politics · the United Kingdom
Sources
- Office for National Statistics: Explore Local Statistics: all datasets (116 indicators for UK local areas, regions and nations), spreadsheet generated 22 October 2026, read 23 October 2026 · saved copy (SHA-256 ae2f3a7b3960…)
Each saved copy is the file exactly as downloaded, kept so the figures can be checked even if the source changes. Report an error.