Economy of Liverpool

The Economy of Liverpool encompasses a wide range of economic activity that occurs within and surrounding the city of Liverpool, England. With a population of over 1.3 million in its Larger Urban Zone, and a metropolitan area population of 2,241,000, Liverpool is one of the largest cities in the United Kingdom and sits at the centre of the broader Merseyside economic area, which is itself one of the two core economies of the North west of England.

In 2006, the city's GVA was £7,626 million, providing a per capita figure of £17,489, which was above the North West average. Liverpool's economy has seen considerable growth since the mid-1990s, with its GVA increasing 71.8% between 1995 and 2006 and employment increasing 12% between 1998 and 2006.

By sector, Liverpool's GVA is predominantly produced through service sector industries, with industry accounting for almost all of the rest.

Between 1995 and 2001 GVA per head grew at 6.3% annum. This compared with 5.8% for inner London and 5.7% for Bristol. The rate of job growth was 9.2% compared with a national average of 4.9% for the same period, 1998-2002.

In common with much of the rest of the UK today, Liverpool's economy is dominated by service sector industries, both public and private. In 2007, over 60% of all employment in the city was in the public administration, education, health, banking, finance and insurance sectors.

Public Administration, Education and Health are combined, the single largest employment sector within Liverpool's economy, accounting for approximately 40% of all jobs in the city. Despite a recent fall in the number of jobs, the level of employment in these sectors remains higher than the average for the other core cities of England.

Liverpool is an important centre for public administration having offices from several government departments and non-departmental public bodies, in addition to local government agencies. Agencies such as HM Passport Office,Criminal Records Bureau, and Her Majesty's Revenue and Customs all have offices in the city.

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