Economy of Bristol

Bristol is a city in south west England. Its economy has long connections with the sea and its ports. In the 20th century aeronautics played an important role in the economy, and the city still plays a role in the manufacture of aircraft. Bristol is also a tourist destination, and has significant media, information technology and financial services sectors.

GVA

See also: List of UK cities by GVA

GVA for Bristol 2002-2012

Year	GVA (£million)	Growth (%)
2002	8,463	05.8%
2003	8,812	04.1%
2004	9,149	03.8%
2005	9,599	04.9%
2006	9,928	03.4%
2007	10,759	08.4%
2008	10,949	01.8%
2009	11,110	01.5%
2010	11,924	07.3%
2011	11,550	03.1%
2012	11,740	01.6%

In 2012, Bristol's GVA was £11.7bn, accounting for 21.8% of the GVA of the Gloucestershire, Wiltshire and Bristol/Bath area, 11.6% of the GVA of South West England, and 0.8% of the GVA of the UK. The economy of Bristol fared comparatively well during the Great Recession of 2008-10 and continued to grow while most cities shrank, but in 2011 the economy contracted by 3.1%. Whilst Bristol's economy is in recovery, it remains 1.5% behind its peak output in 2010.

Compared with other major cities, Bristol enjoys a high GVA per head value, £27,148, the highest amongst the Core Cities and overall fifth highest in the United kingdom after London, Edinburgh, Belfast and Glasgow.

Total GVA and GVA per head, 2012

Area	GVA (£million)	Annual GVA growth (%)	GVA (£ per head)	GVA per head growth (%)
Bristol	11,740	01.6%	27,148	00.6%
Gloucestershire, Wiltshire and Bristol/Bath area	53,746	01.9%	22,663	01.0%
Core Cities average	17,040	02.3%	21,927	01.3%

excluding Bristol, included Birmingham, Leeds, Liverpool, Manchester, Newcastle, Nottingham and Sheffield

Productivity

GVA per employee in Bristol was estimated to be £33,900 in 2012. Compared with other major cities, it is relatively low, behind all other major cities in the United Kingdom. Between 2007 and 2012, productivity in Bristol shrank 4%.

GVA per employee, 2012

Area	GVA per worker (£)	% change 2007-12
Bristol	33,900	04%
Core Cities average	41,900	012.4%

excluding Bristol, included Birmingham, Leeds, Liverpool, Manchester, Newcastle, Nottingham and Sheffield

Employment trends

In 2000 Bristol's unemployment rate was 5.9%, compared to 4.8% for the south west, 5.8% for England, and 6.0% for the United Kingdom. In 2005 this was down to 5.2%, compared to 3.6% for the South West and 4.8% for the United Kingdom.

In 2000, employment in the former County of Avon area was categorised into the following sectors:

Sector	Employees	%
Public services	134,699	27.5
Business & financial services	95,604	19.5
Wholesale & retail	76,972	15.7
Manufacturing	64,538	13.2
Transport & communications	36,248	7.4
Construction	33,939	6.9
Hotels & restaurants	25,580	5.2
Primary industry	5,522	1.1
Other	16,198	3.3

Aeronautics

In the 20th century, Bristol's manufacturing activities expanded to include aircraft production at Filton, six miles (10 km) north of the city centre, by the Bristol Aeroplane Company, and aero-engine manufacture by Bristol Aero Engines (later Rolls-Royce) at Patchway. The aeroplane company became famous for the World War I Bristol Fighter, and Second World War Blenheim and Beaufighter aircraft. In the 1950s it became one of the country's major manufacturers of civil aircraft, with the Bristol Freighter and Britannia and the huge Brabazon airliner.

In the 1960s Filton played a key role in the Anglo-French Concorde supersonic airliner project. Concorde components were manufactured in British and French factories and shipped to the two final assembly plants by road, sea and air. The French assembly lines were in Toulouse in southern France with the British lines in Filton. The very large three-bay hangar built for the Bristol Brabazon was available for Concorde production.

The last ever flight of any Concorde, 26 November 2003. The aircraft is seen a few minutes before landing on the Filton runway from which she first flew in 1969

The French manufactured the centre fuselage and centre wing and the British the nose, rear fuselage, fin and wingtips. The largest proportion of the British share of the work was the powerplant, the Rolls-Royce/Snecma 593. The engine's manufacture was split between British Aircraft Corporation, Rolls-Royce (Filton) and SNECMA at Villaroche near Paris.

The British Concorde prototype G-BSST made its 22-minute maiden flight from Filton to RAF Fairford on 9 April 1969, the French prototype F-WTSS had flown from Toulouse five weeks earlier. Most of the employees of BAC and Rolls Royce, plus a huge crowd, watched from around the airfield. Fairford was chosen as the test airfield for Concorde because the runway at Filton was rejected for test flying, its length was inadequate and there were problems with the slope, and the first 1000 feet (300 m) of the runway at its eastern (A38) end could not be used. However, from the end of 1977, all test flying on the second production aircraft G-BBDG was done from Filton, following the closure of the BAC Fairford test base.

In 2003 the two airlines using Concorde (British Airways and Air France) and the company supplying spares and support (Airbus) made the decision to cease flying the aircraft and to retire them to locations (mostly museums) around the world. For the location of all the aircraft see Concorde.

On 26 November 2003, Concorde 216 (G-BOAF) made the final ever Concorde flight, returning to Filton airfield to be kept there permanently as the centrepiece of a projected air museum. This museum will include the existing Bristol Aero Collection which until May 2012 operated a public museum in a hangar at Kemble Airfield, forty miles (60 km) from Filton. This collection includes Bristol-built helicopters and missiles The major aeronautical companies in Bristol now are BAE Systems, Airbus and Rolls-Royce, both based at Filton.

Another important aeronautical company in the city is Cameron Balloons, a manufacturer of hot air balloons. Annually, in August, the city is host to the Bristol International Balloon Fiesta, one of Europe's largest hot air balloon events.

Bristol Cars

The Bristol Aeroplane Company diversified into car manufacturing in the 1940s, building luxury hand-built cars at their factory in Filton, under the name Bristol Cars. The car manufacturer became independent from the Bristol Aeroplane Company in 1960. The company ceased manufacturing in March 2011 when it called in the receivers.

Port

The Bristol Port Company operates the surviving commercial docks of the Port of Bristol at Portbury and Avonmouth. Since privatisation in 1991 trade has increased to 12 million tonnes per annum, with a revenue exceeding £75 million, making it the fifteenth largest port in the UK, tenth largest in England. The main trades are forest products, cars, containers, bulk (coal, grain, animal feeds, aggregates), liquids (petroleum, aviation fuel, molasses, fruit juice), metals, and fresh produce. Plans are in place to massively increase capacity by building a new deepsea container terminal capable of handling ships up to 12,000 TEU.

Tobacco

As one of the largest ports in the UK, Bristol became very important in the tobacco trade. It is still the headquarters of Imperial Tobacco Group, the world's fourth largest international tobacco company. Imperial's group headquarters was consolidated into a new award winning premises designed by architects AWW inspired environments and is located on the Winterstoke Road.

Coal mining

During the 19th century coal mining was important in parts of Bristol providing the energy for manufacturing industry. The coal field is part of a large area which stretched from the Somerset coalfield into Gloucestershire. All pits have now closed.