Economy of Liverpool

The economy of Liverpool encompasses a wide range of economic activity that occurs within and surrounding the city of Liverpool, England.

As of 2023^[update], the city's primary urban area, which includes Knowsley, had a population of 662,983 making it the tenth largest in the UK.

In 2017, the Liverpool City Region experienced the UK's highest growth in real GVA, increasing by 3.3%.

In 2021, the gross value added for Liverpool was £14.29 billion and gross domestic product was £15.91 billion.

In common with much of the rest of the UK today, Liverpool's economy is dominated by service sector industries, both public and private. In 2007, over 60% of all employment in the city was in the public administration, education, health, banking, finance and insurance sectors.

The health and social care sector represents the single largest industry within Liverpool in terms of economic output, making-up 7% (£1.66m) of regional gross value added (GVA) (December 2019 basic prices). The sector is also the single largest employer, representing 16.7% (32,804 jobs) of all employment within the city in 2011.

Liverpool is an important centre for public administration having offices from several government departments and non-departmental public bodies, in addition to local government agencies. Agencies such as HM Passport Office, Criminal Records Bureau, and Her Majesty's Revenue and Customs all have offices in the city.

The banking, finance and insurance sectors are one of the fastest growing areas of Liverpool's economy with a 5.3% increase in jobs in these areas 2006/07. Major private sector service industry concerns have also invested in Liverpool especially the financial services sector with Barclays, JPMorgan, Alliance & Leicester, Royal Bank of Scotland Group and the Bank of Ireland either opening or expanding their sites, a number of major call centres have opened in recent years too and the professional advice sector.