Inventing our future Collective action for a sustainable economy

Where are we now?
Long-term trends and
strategic challenges
For information on sources of data
used within ‘Long-term trends and
strategic challenges’, please see the
evidence base, part 1 section 2,
‘Economic performance of the East
of England’
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1.3 Long-term trends and strategic challenges
Getting economic growth back on track in the
East of England
The East of England’s economy has been successful over the past 20 years
and this has contributed to the attractiveness and population growth in
the region. However, continued economic success is not guaranteed.
For the past five years, the East of England’s economic growth rate has
lagged behind the national growth rate, as shown at Figure 2. Despite
having one of the highest long-term economic growth rates amongst UK
regions, recent performance is a cause for concern.
The main challenges for the East of England are to raise rates of
productivity growth, increase entrepreneurship and to better manage the
impacts of economic success in terms of economic participation and
environmental quality.
Figure 2
The Annual economic GVA growth rate as of index the East of UK of England growth rate has fallen (UK-100) below the
average UK rate since 2002 (where the UK average growth rate = 100)
140
120
100
80
60
40
20
0
UK average
1990 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06
Source: ONS, Figures calculate growth rates in total GVA indexed to UK rates, where
UK=100 (2008)
Total value of world merchandise exports 1996-2006, (US $ billions)
12000
10000
8000
6000
4000
2000