The economy of Wales refers to the production and consumption of goods and services and the supply of money in Wales. The percentage of all individuals, living in relative income poverty in Wales in 2016–17 was 23%, compared to 22% in England, and only 19% in Scotland and Northern Ireland. More than one in five people in Wales were living in poverty between 2001 and 2016. However, in 2018, according to OECD and Eurostat data, gross domestic product (GDP) in Wales was £75 billion, an increase of 3.3% from 2017. GDP per head in Wales in 2018 was £23,866, an increase of 2.9% on 2017. In 2019 Wales generated tax revenue of £27bn, which is around 36% of GDP, and has expenditure of £40.1bn, leaving an deficit of £13.1bn. Indicators of economic growth This table shows the economic growth indicators over the last 30 years in Wales. Economic sectors (A-Z) Agriculture In 2003, agriculture contributed £418 million to Welsh GVA, or 1.1% (including subsidies). 1.6m hectares (around 77% of Wales' total land area) is used for agricultural production and an estimated 57,500 people are directly employed in the sector. Farming is dominated by beef, sheep and the dairy sector, with the arable sector accounting for 10% of agricultural output. Average farm size is 30–40 hectares, small by UK standards, and dominated by family-run enterprises. Banking and finance The Development Bank of Wales is a national Welsh investment bank that was founded by the Welsh Government. It invests in businesses, particularly start ups by providing growth capital. Banc Cambria is a proposed national Welsh community bank currently under development and aimed to be operating in Wales by 2023. Building societies in Wales includes the Principality Building Society, Monmouthshire Building Society and the Swansea Building Society. Welsh insurance companies include Admiral and Thomas Carroll. Education Education in Wales differs in certain respects from education elsewhere in the United Kingdom. For example, a significant minority of students all over Wales are educated either wholly or largely through the medium of Welsh: in 2014/15, 15.7% of children and young people received Welsh-medium education – a drop from the 15.9% in 2010/11. Energy In 2018, the annual production of electricity in Wales was 30.2 TWh and consumed 14.9 TWh, which means that Wales generates twice as much electricity as it consumes and is a net exporter of electricity to England, Ireland and Europe. In the