This sector contributed £330.5m (GVA) to the Somerset economy in 2016, roughly 2.9% of all economic output in the county. In proportional terms this is broadly similar to the contribution the sector makes at the national level, where it is worth £41.6bn. Between them, South Somerset and Taunton Deane account for 74% of this, contributing £134.3m and £110.8m respectively.
In full-time equivalent (FTE) terms, this sector accounted for more than 5,300 jobs in Somerset in 2016. South Somerset and Taunton Deane accounted for 76% of these, contributing 2253 and 1779 jobs respectively.
Productivity in this sector in Somerset stood at £62,250 in GVA per FTE terms in 2016. This is 23% higher than average productivity for the county (£50,460). Unusually, productivity in this sector is also 6% higher in Somerset than it is nationally, where in 2016 it was £58,940. Productivity figures across lower-tier authority areas in Somerset varies, but is lowest in South Somerset (£59,600) and highest in Sedgemoor (£71,240).
Source: Economic Model for Somerset and the Heart of the South West (HotSW) Local Enterprise Partnership, 2018