OXFORDSHIRE is the 15th most economically productive sub-region in the UK, according to the Office for National Statistics.

The county recorded a Gross Value Added (GVA) per hour worked that was 6.7 per cent above the UK average in 2013.

The figures were revealed in the ONS’ annual productivity report for the nation’s 134 sub-regions, which was released this month.

GVA measures economic output per hour worked. Due to the time involved in analysing sub-regional data, the 2013 figures are the latest available.

Inner London - West posted the highest productivity, with a GVA per hour worked that was 48.5 per cent above the UK average.

Oxfordshire’s economic productivity relative to the UK slipped back marginally, by 0.2 percentage points from 6.9 per cent above the UK average in 2012.

The county broadly maintained its trend of general improvement relative to the rest of the country over the previous six years, rising from a low point of 2.9 per cent above the UK average in 2007.

Paul Maidment, director of analysis at Oxford Analytica, said: “These numbers reflect an underlying shift in the structure of the economy and a move towards higher value knowledge industries. Oxford, obviously because of its intellectual capital, stands to benefit from that.”

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Mr Maidment said Oxford’s proximity to London also benefited the local economy.

An ONS spokesman said that, in general, a sub-region’s economic productivity was influenced by the types of industry, business innovation and workers’ skills levels.

Oxfordshire’s nominal GVA per hour worked was £32.10 in 2013, compared to £44.60 in Inner London - West, and up from £31.70 in the county in 2012.