Using annual estimates from summed monthly GVA data (Digital)
Published 15 November 2023
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This publication is available at https://www.gov.uk/government/statistics/dcms-and-digital-economic-estimates-monthly-gva-to-sept-2023/using-annual-estimates-from-summed-monthly-gva-data-digital
1. Annual GVA estimates from summed monthly GVA (Digital)
1.1 About these estimates
Figures for the digital sector and telecoms are presented separately from DCMS sectors here as responsibility for these policy areas now sits with the Department for Science, Innovation and Technology.
These annual estimates have been produced by summing monthly GVA estimates for the 12 calendar months in each year from 2019 to 2022. They are our most timely way of estimating GVA for the digital sector but, as they are based on the monthly GVA estimates, the same caveats apply (full methodology), and they should be used with caution. These estimates will be superseded by our more robust annual GVA series when data becomes available.
Key technical points:
- These estimates have been updated to present the digital and telecoms sectors separately from DCMS. Please note that the telecoms sector sits wholly within the digital sector.
- The estimates are based on the monthly data as published in November 2023. The estimates are adjusted for inflation (using 2022 prices), meaning they will reflect GVA in current prices only for 2022. Our previous estimates have been given in 2019 prices and are therefore not directly comparable. Differences with those previously published estimates will be partially due to this change, in addition to scheduled revisions. This is a presentational change and does not affect growth rates.
- The monthly GVA gives a timely estimate that is then revised frequently, in line with scheduled revisions to the underlying ONS datasets as new information becomes available. Correspondingly, these summed estimates will be revised in future as necessary.
- These estimates cannot be directly compared to our annual GVA estimates series, due to methodology differences, however, it is possible to look at trends up to 2020 using the annual series, and trends from 2019 using these estimates. You can find data from 2010 to 2020 in our most recent annual GVA publication.
1.2 Key findings
1.3 Digital sector
We estimate that in 2022, GVA by the digital sector was £158 billion, 21% higher in real terms than in 2019, in comparison GVA by the UK economy as a whole was 2% above 2019 levels in 2022.
Our traditional annual GVA estimates showed that, up to 2019, GVA by the digital sector grew faster than GVA by the UK economy as a whole, increasing by 67% in real terms between 2010 and 2019 compared to 20% for the UK economy.
1.4 Telecoms sector
We estimate that in 2022, GVA by the telecoms sector was £33 billion, 41% higher in real terms than in 2019, in comparison GVA by the UK economy as a whole was 2% above 2019 levels in 2022.
Our traditional annual GVA estimates showed that, up to 2019, GVA by the telecoms sector grew slightly faster than GVA by the UK economy as a whole, increasing by 328% in real terms between 2010 and 2019 compared to 20% for the UK economy.