This sector contributed £270m (GVA) to the Somerset economy in 2020, roughly 2.5% of all economic output in the county. In proportional terms this is lower than the contribution the sector makes at the national level, where it is worth £45399m. Between them, South Somerset and Somerset West & Taunton Deane account for 81% of this, contributing £131.5m and £88.3m respectively.
In full-time equivalent (FTE) terms, this sector accounted for more than 5,169 jobs in Somerset in 2020. South Somerset and Somerset West & Taunton accounted for 79% of these, contributing 2,067 and 2,035 jobs respectively.
Productivity in this sector in Somerset stood at £52,400 GVA per FTE terms in 2020. Productivity in this sector is also 23% higher nationally than it is in Somerset, where in 2020 it was £64,200. Productivity figures across lower-tier authority areas in Somerset varies, but is lowest in Somerset West & Taunton (£42,720) and highest in Sedgemoor (£64,600).
Source: Economic Model for Somerset and the Heart of the South West (HotSW) Local Enterprise Partnership, 2022