| What is
the value of aggregates to the UK economy?
Minerals, including aggregates, play a fundamental role in underpinning
growth in the economy and contributing to the UK's high standard
of living. Aggregates are basic raw materials used by the construction
industry and continuing supplies are essential for the sustainable
growth of the UK economy. Like all minerals, aggregates are at the
beginning of the supply chain and their true value lies in their downstream
are basic raw materials used by the construction industry and
continuing supplies are essential for the sustainable growth
of the UK economy.
Sales of primary
aggregates in the UK were some 226 million tonnes in 2003
with a value of £1 698 million based on estimated ex-quarry
values. However, this figure significantly undervalues the contribution
that aggregates make to the UK construction industry and the economy
as a whole. Sales of some value-added
products based on aggregates are shown in the diagram.
are at the beginning of the supply chain and their true value
lies in their downstream use.
UK: Sales of selected aggregate-based products,
The construction industry is a critical sector of the economy. The Gross
Value Added (GVA) of the construction industry in 2003 was £61.5
billion, or about 6.3% of the total for the UK. GVA is a key economic
indicator and is defined as the difference between the value of output
(e.g. revenues) and the cost of bought in inputs (e.g. fuel and other
raw material, but not labour).
The total value of the work carried out by the construction industry
in the UK continues to grow. In Great Britain the total value of
construction work was £92.7 billion in 2003 of which £49.8
billion was new work and £42.9 billion repair and maintenance.
With many new infrastructure projects, such as for the Olympics,
and the need for many new homes, it is likely that the value of construction
work will continue to rise.
Great Britain: aggregates consumption and construction