In 2022, Buckinghamshire’s total Gross Domestic Product (GDP) in current prices was £20,366m. The County’s GDP per head* stood at £36,341, lower than the national (England) average of £37,852.

The latest data suggests that Buckinghamshire experienced a 8.0% decline in GDP in the year most affected by the Covid-19 pandemic (2020). This was less severe than the national decline of 10.8%.

However, Buckinghamshire’s economy appears to have rebounded at a slightly slower pace than the national economy as a whole. With a 7.4% increase in GDP in 2021 followed by a 2.8% increase in 2022 (comparative figures for England being 9.6% and 4.3% respectively).

Buckinghamshire’s production sector (agriculture, manufacturing, energy and utilities) and service sector (consumer, business and public services) have both broadly performed in-line with the national average post-Covid. Between 2021 and 2022, economic growth was particularly strong in Buckinghamshire’s utilities, accommodation and film & TV sectors.

Whilst Buckinghamshire’s economy has performed more or less in-line with the national economy over the last few years, the longer term trend has been one of comparatively slow growth. In 2022, GDP in Buckinghamshire was only 23% higher (in 2019 prices) than in 2002. Nationally, GDP was 41% higher.

*Please note, whilst GDP per head of population can be a useful way of comparing the economic output of areas of different size, the data can be affected by commuting flows . Productivity (GVA per hour worked within the local economy) is a better measure of comparative economic performance. Please see the Buckinghamshire Economy 2024 report for the latest (2021) productivity data.