Birmingham
Economy

Birmingham grew to prominence as a centre of manufacturing and engineering. The economy of Birmingham is dominated by the service sector, which accounted for 88% of the city's employment in 2012. Birmingham is the largest centre in the UK for employment in public administration, education and health; and after Leeds the second-largest centre outside London for employment in financial and other business services.

The Gun Quarter is a district of the city that was, for many years, a centre of the world's gun-manufacturing industry. The first recorded gun maker in Birmingham was in 1630, and locally made muskets were used in the English Civil War. The Gun Quarter is an industrial area to the north of the city centre, bounded by Steelhouse Lane, Shadwell Street, and Loveday Street, specialising in the production of military firearms and sporting guns. Many buildings in the area are disused but plans are in place for redevelopment including in Shadwell Street and Vesey Street.

The wider metropolitan economy is the second-largest in the United Kingdom with a GDP of $121.1 billion (2014 estimate, PPP). Major companies headquartered in Birmingham include the engineering company IMI plc, Mobico Group, Patisserie Valerie, Claire's, and Mitchells & Butlers; including the wider metropolitan area, the city has the largest concentration of major companies outside London and the South East. hosting headquarters for Gymshark and Severn Trent Water. With major facilities such as the National Exhibition Centre and International Convention Centre, Birmingham attracts 42% of the UK's total conference and exhibition trade.

In 2012, manufacturing accounted for 8% of the employment in Birmingham, a figure below the average for the UK as a whole. Major industrial plants in the city include Jaguar Land Rover in Castle Bromwich and Cadbury in Bournville, with large local producers also supporting a supply chain of precision-based small manufacturers and craft industries. More traditional industries also remain: 40% of the jewellery made in the UK is still produced by the 300 independent manufacturers of the city's Jewellery Quarter, continuing a trade first recorded in Birmingham in 1308.

Birmingham's GVA was estimated to be £24.8 billion in 2015, economic growth accelerated each successive year between 2013 and 2015, and with an annual growth of 4.2% in 2015, GVA per head grew at the second-fastest rate of England's eight "Core Cities". The value of manufacturing output in the city declined by 21% in real terms between 1997 and 2010, but the value of financial and insurance activities more than doubled. With 16,281 start-ups registered during 2013, Birmingham has the highest level of entrepreneurial activity outside London, while the number of registered businesses in the city grew by 8.1% during 2016. Birmingham was behind only London and Edinburgh for private sector job creation between 2010 and 2013.

Economic inequality in Birmingham is greater than in any other major English city, exceeded only by Glasgow in the United Kingdom. Levels of unemployment are among the highest in the country, with 10% of the economically active population unemployed in June 2016. In the inner-city wards of Aston and Washwood Heath, the figure is higher than 30%. Two-fifths of Birmingham's population live in areas classified as in the 10% most deprived parts of England, and overall Birmingham is the most deprived local authority in England in terms of income and employment deprivation. The city's infant mortality rate is high, around 60% worse than the national average. Meanwhile, just 49% of women have jobs, compared to 65% nationally, and only 28% of the working-age population in Birmingham have degree level qualifications in contrast to the average of 34% across other core cities.

According to the 2014 Mercer Quality of Living Survey, Birmingham was placed 51st in the world, which was the second-highest rating in the UK. The city's quality of life rating has continued to improve over the years and Birmingham was ranked 49th in the world in the 2019 survey. This is the first time it has featured in the top 50. The Big City Plan of 2008 aims to move the city into the index's top 20 by 2026. An area of the city has been designated an enterprise zone, with tax relief and simplified planning to lure investment. According to 2019 property investment research, Birmingham is rated as the number one location for "the best places to invest in property in the UK". This was attributed to a 5% increase in house prices and local investment into infrastructure.
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