Guernsey Economy - overview

Factbook > Countries > Guernsey > Economy

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.

Definition: This entry briefly describes five economic components for a given country:

* National Economy, including a brief economic history;

* Domestic Markets, including labor and wage markets as well as brief commentary on economic sector portfolios;

* Financial Power and Public Finance, including brief discussions of financial market strengths and security, lending/exchange rates (especially if abnormalities exist), and foreign direct investments;

* Trade Power and Influence, including brief commentary on chief imports and exports; and

* Regional Strategy and Efforts, including key partners, regional economic development efforts, and any underlying economic data integrity concerns.

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

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