West Wales and the Valleys - GDP Stats
West Wales and the Valleys designation as a Convergence area for the period 2014-2020 has become one step closer following the publication of Eurostat’s 2009 Regional GDP data on 13 March 2012.
- West Wales and the Valleys: 2009 GDP figure: 68.4% of EU average; 2007-2008-2009 average: 70.1%: As the average of both figure is below the 75% EU threshold we will qualify as a ‘less developed’ region for future EU Funding pending a final decision by the European Commission
- East Wales: 2009 GDP figure: 99.3% of EU average; 2007-2008-2009 average: 102.7%: qualify as a ‘more developed’ region as above
The significance of these figures in a UK context is that they place Cornwall and the Isles of Scilly back in the highest levels of aid category for the first time, i.e. Convergence / less developed category with an average regional GDP figure for the 3 year reference period of 2007-2008-2009 of 73.2%
Before these figures were published it looked like only West Wales and the Valleys would qualify under this category from the UK and that Cornwall would move into the ‘more developed’ regions category.