Economy of Cornwall

The economy of Cornwall in South West England is largely dependent upon agriculture, followed by tourism. Cornwall is one of the poorest areas in the United Kingdom with a GVA of 70.9% of the national average in 2015. It is one of four areas in the UK that qualified for poverty-related grants from the EU. Farming and food processing contributed £366 million to the county's economy in 2006, equal to 5.3% of Cornwall’s total GVA. The agriculture industry in Cornwall employed 9,500 people (4.9% of all Cornish employees) as of 2011. 23,700 more (12.1% of all Cornish employees) were employed in the food industry in Cornwall. The Cornish economy also depends heavily on its successful tourist industry, which contributes 12% of Cornwall's GDP and supports about 1 in 5 jobs (19% in Kerrier, Restormel and Scilly, 24% in Penwith, 23% in North Cornwall, 22% in Carrick and 14% in Caradon). Tourism contributed £1.85 billion to the Cornish economy in 2011.