Editing Moray (section)

==Economy==
{{Update section|date=September 2024}}

===Employment===
The working population of Moray in 2003 was nearly 40,000: of whom around 34,000 were employees and 6000 self-employed. Of these 34,000, 31% were employed in the public sector, compared with 27% for Scotland and 25% for the UK (the [[RAF]] personnel are not included in these figures). Only 18% of jobs are managerial or professional, compared to 25% for Scotland.
[[File:Employmentmoray.png|thumb|center|600px|People employed in Moray (2003)]]
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===Economic performance and development===
The [[gross value added]] (GVA)<ref>GVA = Gross Value Added is the term now used for total wealth created in the regional economy. Measured at basic prices, it is close to what was formerly known as Gross Domestic Product at factor cost.</ref> in Moray was £1.26 billion in 2003. This corresponds to an output of £14,500 per resident and was 6% below the average for [[Scotland]] and 12% below that of the [[UK]].

The diagrams show the strong reliance on the food and drink industry, i.e. the distilling, canned food and biscuit manufacturing industries. The public sector is also very prominent. Of the total GVA of £1.26 billion, food and drink is responsible for 19% while 3% is the [[Scotland|Scottish]] figure and 2% for the UK. Moray is responsible for 9% of the entire food and drink GVA of Scotland. Significant areas where Moray has a larger than average share of national markets are in tourism, forest products, textiles and specialised metal working. In contrast, however, Moray is significantly underrepresented in the business services area at 15% of GVA, while it is 19% for Scotland and 25% for the UK.
{{multiple image
| align    = left
| image1   = GVAmoray.png
| width1   = 250
| alt1     = Bar graph of GVA per head of population (1998 - 2003), comparing Moray, Scotland and the whole UK
| caption1 = GVA per head of population (1998 - 2003), comparing Moray, Scotland and the whole UK
| image2   = IndustryGVAmray.png
| width2   = 250
| alt2     = Bar graph of industry GVA (2003)
| caption2 = Industry GVA (2003)
| image3   = ManufacturingGVAmoray2.png
| width3   = 250
| alt3     = Manufacturing GVA (2003)
| caption3 = Manufacturing GVA (2003)
}}{{clear left}}

In March 2014 a tourism strategy was launched by the Moray Economic Partnership aimed at doubling the £95m industry over the next decade.<ref>{{Cite web|url=http://www.northern-scot.co.uk/News/Tourism-strategy-launched-for-Moray-11032014.htm|title=Tourism strategy launched for Moray}}</ref> In June 2014 a website (morayspeyside.com) was launched under the auspices of the Moray [[Chamber of Commerce]] to support the strategy and provide a one-stop shop for visitors.<ref>{{cite web|url=https://www.pressandjournal.co.uk/fp/news/moray/268326/moray-tourism-website-launched/|title=Moray tourism website launched - Press and Journal|website=pressandjournal.co.uk|date=27 June 2014 |access-date=15 March 2018}}</ref><ref>{{cite web |url=http://www.morayspeyside.com/us/ |title=About Us - Moray Speyside |access-date=2014-07-03 |url-status=dead |archive-url=https://web.archive.org/web/20140715012207/http://www.morayspeyside.com/us/ |archive-date=15 July 2014 |df=dmy-all }}</ref>

===Earnings===
Compared to Scottish or British levels, average incomes in Moray are low. The average wage in 2003 was £286 per week, which was 12% below the Scottish average and 18% below the British (these statistics exclude the armed forces). These figures reflect the large amount of part-time employment, with fewer qualified workers and less managerial and professional jobs. 16% of residents commute outwards, which is relatively high. Of these, two-thirds work in Aberdeen or Aberdeenshire, mainly in the oil and gas industry. These outward commuters earn significantly more than local workers.

===Business base===
In 2004, there were around 2,500 [[VAT]] registered businesses in Moray, with 75% of businesses employing fewer than five people and about half of firms with a turnover of less than £100,000. 60% of employees are employed in small firms, compared to 48% for Scotland as a whole.

Moray's major companies export their products to other British regions and abroad and many of the smaller companies have direct involvement with neighbouring economies in Aberdeen, Aberdeenshire, and Highland. Also, a large outward-commuting workforce (estimated to be in excess of 5,000 people) derives its income from the neighbouring centres of [[Aberdeen]] and [[Inverness]].
[[File:VATregisteredmoray.png|center|thumb|600px|VAT registered enterprises in Moray (2004)]]
{{small|'''Note:''' 2003 and 2004 data at SCOTDAT was the most up-to-date, as of August 2006}}