Economic Profile

Output

As a region, the Gross Value Added is over £84 billion, while the GVA for Birmingham is over £18 billion.

Source: ONS 2005

Birmingham's economy is likely to grow by 11% over the next five years but has the potential to grow by as much as 14%, if all the projects in the development pipeline come to fruition.

Financial and Business Services will continue to be the leading driver of employment growth in the City.

Employment and output in this sector have been increasing their share by around 10% in Birmingham since 1981 (with over 40,000 additional jobs) compared to 9% nationally. In the next 10 years the share of employment will increase by around 3% locally and nationally and output by 2% respectively, thus adding a further 20,000 jobs in Birmingham.

Four of the five industries that comprise the sector are predicted to follow the sector's pattern, and job creation in the next 10 years is forecast as follows:

• Insurance (+100)
• Professional Services (+10,000)
• Computing Services (+4,000)
• Other Business Services (+7,400)

The forecast employment growth in the Health & Social Care sctor is driven by increased demands associated with an ageing population.

Source: BEIC Economic Review 2005

Click here to view the sectors that are forecast to grow the fastest within the West Midlands economy 2005-2010
Source: Regional Prospects, Cambridge Econometrics

The best combination of output and employment growth is forecast for a group of high value service sectors: Professional Services; Computing Services; and Health & Social Services.

Source: Local Economy Forecasting Model Base Forecast, BEIC, 2002

Source: Annual Business Inquiry, 2001

Major Companies in Birmingham

• Aviva
• BT
• Barclays
• Cadbury Trebor Bassett
• GoodyearDunlop
• HFC Bank
• HSBC
• Jaguar
• LDV
• Nat West
• Royal Bank of Scotland
• SCC
• Unity Trust Bank
• Wesleyan
• Alstom
• Capgemini
• Ernst & Young
• GKN
• IMI
• Lloyds TSB
• TRW Aeronautical & Automotive Systems Group

To view a list of the Top 100 Companies in Birmingham, click here

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