Economic Estimates: Digital Sector Monthly GVA (to March 2024)
Official Statistics estimating the contribution of the Digital Sector to the UK economy, measured by Gross Value Added (GVA).
Documents
Details
Headline findings
All estimates in this release are presented in 2022 prices and in chained volume measures. Estimates are provisional and subject to planned revisions. The index of estimated monthly GVA shows the growth or decline of each sector or subsector relative to January 2019. Estimates of monthly GVA (£ million) are used to determine percentage change over the relevant time periods mentioned here.
The Digital Sector
- Estimated monthly GVA for the Digital Sector increased by 0.2% for the three months from December 2023 to March 2024, while the GVA of the UK is estimated to have increased by 1.0% over the same period.
- Estimated monthly Digital Sector GVA decreased by 1.5% in the 12 months between March 2023 and March 2024 whilst, over the same period, the estimate for the UK increased by 0.8%.
- Based on these estimates, the Digital Sector accounted for 7.2% of total UK GVA in March 2024, down from 7.4% in March 2023.
- Digital sector GVA is estimated to be approximately £161 billion for the 2023 calendar year.
The Telecommunications Sector
Telecommunications is a subsector of the Digital Sector. Due to specific interest in this sector, we have provided additional headline figures:
- Estimated monthly GVA for the Telecommunications Sector decreased by 0.1% in the 3 months from December 2023 to March 2024.
- Estimated monthly GVA for the Telecommunications Sector decreased by 2.3% in the 12 months from March 2023 to March 2024.
- Based on these estimates, the Telecommunications Sector accounted for 1.57% of total UK GVA in March 2024, down from 1.62% in March 2023.
Released
13 June 2024
About this release
This is a continuation of the Digital Economic Estimates: Monthly GVA series, previously produced by Department for Culture, Media and Sport (DCMS). Responsibility for Digital and Telecommunications policy now sits with the Department for Science, Innovation and Technology (DSIT).
Monthly estimates
These estimates are Official Statistics, used to provide an estimate of the economic contribution of the Digital Sector, in terms of Gross Value Added (GVA), for the period January 2019 to March 2024. This current release contains new figures for January 2024 to March 2024.
Estimates are in chained volume measures (i.e. have been adjusted for inflation), at 2022 prices, and are seasonally adjusted. These latest monthly estimates should only be used to illustrate general trends, not used as definitive figures.
You can use these estimates to:
- Look at relative indicative changes in GVA over time for the Digital Sector and subsectors
You should not use these estimates to:
- Quantify GVA for a specific month
- Measure absolute change in GVA over time
- Determine findings for sectors that are defined using more detailed industrial classes (due to the data sources only being available at broader industry levels)
Data sources and technical information
These findings are calculated based on published Office for National Statistics (ONS) data sources including the Index of Services and Index of Production.
These data sources are available for industrial ‘divisions’, whereas the Digital Sector is defined using more detailed industrial ‘classes’. This represents a significant limitation to this statistical series; the implications of which users should be aware of.
ONS data used in this release only captures trends (i.e. changes over time) for ‘divisions’; with trends for ‘classes’ estimated from their overarching division. Therefore, differing changes in class levels within a division cannot be captured within these estimates. This presents an issue when creating our statistical series as classes within a division are likely to have changed by differing amounts over a time period. Additionally, we may only be interested in some of the classes within a division; rather than the division as a whole.
To illustrate this issue, the industrial division ‘Wholesale trade, except of motor vehicles and motorcycles’ includes both a class on ‘Wholesale of computers, computer peripheral equipment and software’ and a class on ‘Wholesale of office furniture’ across different industrial groups. The ‘Wholesale of computers, computer peripheral equipment and software’ class is included in our definition of the Digital Sector, whereas the ‘Wholesale of office furniture’ class is not.
The technical guidance contains further information about data sources, methodology, and the validation and accuracy of these estimates. The latest version of this guidance was published in June 2024.
Content
These statistics cover the contributions of the Digital Sector and its subsectors to the UK economy.
Users should note that the Telecommunications Sector sits wholly within the Digital Sector.
Feedback
We aim to continuously improve the quality of estimates and better meet user needs. We welcome feedback on this release. Feedback should be sent via email to economicestimates@dsit.gov.uk.
Office for Statistics Regulation
Our statistical practice is regulated by the Office for Statistical Regulation (OSR). OSR sets the standards of trustworthiness, quality and value in the Code of Practice for Statistics that all producers of official statistics should adhere to.
You are welcome to contact us directly with any comments about how we meet these standards by emailing economicestimates@dsit.gov.uk. Alternatively, you can contact OSR by emailing regulation@statistics.gov.uk or via the OSR website.
Pre-release access
The accompanying pre-release access document lists ministers and officials who have received privileged early access to this release. In line with best practice, the list has been kept to a minimum and those given access for briefing purposes had a maximum of 24 hours.
Contact
Responsible statistician: Rory Attwell
For any queries or feedback, please contact economicestimates@dsit.gov.uk.