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Guernsey Economy Profile 2017

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Economy - overviewFinancial services account for about 40% of employment and about 55% of total income in this tiny, prosperous Channel Island economy. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Financial services, construction, retail, and the public sector have been growing. Light tax and death duties make Guernsey a popular tax haven. In October 2014, Guernsey signed an OECD agreement to automatically exchange some financial account information to limit tax avoidance and evasion.
GDP (purchasing power parity)$3.465 billion (2015 est.)
$3.451 billion (2014 est.)
$3.42 billion (2013 est.)
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)$52,400 (2015 est.)
$52,500 (2014 est.)
GDP - composition by sectoragriculture: 3%
industry: 10%
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
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
0.7391 (2016 est.)
0.6542 (2015 est.)
0.6542 (2014)
0.607 (2013)
0.63 (2012)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on July 9, 2017