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Guernsey Economy Profile

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Economy - overviewFinancial 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 rate0.4% (2015 est.)

1.2% (2014 est.)

4.2% (2012 est.)
GDP - per capita (PPP)$52,500 (2014 est.)
GDP - composition by sectoragriculture: 3% (2000)

industry: 10% (2000)

services: 87% (2000)
Population below poverty lineNA
Labor force31,470 (March 2006)
Unemployment rate1.2% (2016 est.)
Household income or consumption by percentage sharelowest 10%: NA

highest 10%: NA
Budgetrevenues: 563.6 million (2005)

expenditures: 530.9 million (2005 est.)
Taxes and other revenues20.6% (of GDP) (2005)
Budget surplus (+) or deficit (-)1.2% (of GDP) (2005)
Inflation rate (consumer prices)3.4% (June 2006 est.)
Agriculture - productstomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle
Industriestourism, banking
Industrial production growth rateNA
Exports

NA

Exports - commoditiestomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables
Imports

NA

Imports - commoditiescoal, gasoline, oil, machinery, and equipment
Debt - external

NA

Exchange ratesGuernsey pound per US dollar

0.7836 (2017 est.)

0.738 (2016 est.)

0.738 (2015)

0.6542 (2014)

0.607 (2013)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on September 18, 2021