About the data
In Somerset, as is the case nationally, the enormous value represented by Real Estate Activities vis-à-vis their contribution to employment means that productivity is far higher in this industry than any other. In 2016 it stood at just over £522,000, slightly above the national average of £500,000. In short, this is more than ten times the average for productivity across all industries in Somerset.
The second most productive industry in Somerset, and still by a significant margin over all other industries, was Electricity, Steam, Gas and Air-Conditioning Supply. GVA per FTE in this industry was just over £222,000, again slightly higher than the national average of £210,000, and more than four times the average across all industries.
One of the largest, single-industry disparities in productivity figures between Somerset and Great Britain is for Financial and Insurance Activities, where GVA per FTE values were approximately £75,400 and £104,400 respectively.
Unsurprisingly, as a primary industry, the least productive industry in 2016 was Agriculture, Forestry and Fishing, with a GVA per FTE value of just £14,700.
Source: Economic Model for Somerset and the Heart of the South West (HotSW) Local Enterprise Partnership, 2018