Macro economy

There is significant scope to boost productivity and contribute to economic growth, enabling an effective and green recovery from the COVID-19 pandemic, while taking advantage of international markets in a post-Brexit world.

• The Midlands Engine is home to 410k enterprises employing 4.4m people and generating £240.3bn in GVA.
• Midlands Engine Gross Value Added (GVA) is the highest of all regions in the UK outside of London and the South East. It accounts for 12.3% of UK GVA.
• GVA per head was £23,100 in 2020, £5,964 lower than UK (£29,063). A 4.1% decrease from previous year compared to 3.8% decrease for the UK.
• The region faces a £84.9bn productivity gap with barriers including skills, infrastructure, R&D investment, and access to finance.