Economy - overview | Financial services accounted for about 21% of employment and about 32% of total income in 2016 in this tiny, prosperous Channel Island economy. Construction, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Financial services, professional services, tourism, retail, and the public sector have been growing. Light tax and death duties make Guernsey a popular offshore financial center. |
GDP (purchasing power parity) | $3.465 billion (2015 est.) $3.451 billion (2014 est.) $3.42 billion (2013 est.) note: data are in 2015 dollars |
GDP (official exchange rate) | $2.742 billion (2005 est.) |
GDP - real growth rate | 0.4% (2015 est.) 1.2% (2014 est.) 4.2% (2012 est.) |
GDP - per capita (PPP) | $52,500 (2014 est.) |
GDP - composition by sector | agriculture: 3% (2000) industry: 10% (2000) services: 87% (2000) |
Population below poverty line | NA |
Labor force | 31,470 (March 2006) |
Unemployment rate | 1.2% (2016 est.) |
Household income or consumption by percentage share | lowest 10%: NA highest 10%: NA |
Budget | revenues: 563.6 million (2005) expenditures: 530.9 million (2005 est.) |
Taxes and other revenues | 20.6% (of GDP) (2005) |
Budget surplus (+) or deficit (-) | 1.2% (of GDP) (2005) |
Inflation rate (consumer prices) | 3.4% (June 2006 est.) |
Agriculture - products | tomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle |
Industries | tourism, banking |
Industrial production growth rate | NA |
Exports | NA |
Exports - commodities | tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables |
Imports | NA |
Imports - commodities | coal, gasoline, oil, machinery, and equipment |
Debt - external | NA |
Exchange rates | Guernsey pound per US dollar 0.7836 (2017 est.) 0.738 (2016 est.) 0.738 (2015) 0.6542 (2014) 0.607 (2013) |
Fiscal year | calendar year |
Source: CIA World Factbook
This page was last updated on September 18, 2021