| Economy - overview | Jersey's economy is based on international financial services, agriculture, and tourism. In 2016, the financial services sector accounted for about 41% of the island's output. Agriculture represented about 1% of Jersey’s economy in 2016. Potatoes are an important export crop, shipped mostly to the UK. The Jersey breed of dairy cattle originated on the island and is known worldwide. The dairy industry remains important to the island with approximately $8.8 million gallons of milk produced in 2015. Tourism accounts for a significant portion of Jersey’s economy, with more than 700,000 total visitors in 2015. Living standards come close to those of the UK. All raw material and energy requirements are imported as well as a large share of Jersey's food needs. Light taxes and death duties make the island a popular offshore financial center. Jersey maintains its relationship with the EU through the UK. Therefore, in light of the UK’s decision to leave the EU, Jersey will also need to renegotiate its ties to the EU. |
| GDP (purchasing power parity) | $5.569 billion (2016 est.) $5.514 billion (2015 est.) $4.98 billion (2014 est.) note: data are in 2015 US dollars |
| GDP (official exchange rate) | $5.004 billion (2015 est.) |
| GDP - real growth rate | 1% (2016 est.) 10.7% (2015 est.) |
| GDP - per capita (PPP) | $56,600 (2016 est.) $49,500 (2015 est.) |
| GDP - composition by sector | agriculture: 2% (2010) industry: 2% (2010) services: 96% (2010) |
| Population below poverty line | NA |
| Labor force | 59,950 (2017 est.) |
| Labor force - by occupation | agriculture: 3% industry: 12% services: 85% (2014 est.) |
| Unemployment rate | 4% (2015 est.) 4.6% (2014 est.) |
| Household income or consumption by percentage share | lowest 10%: NA highest 10%: NA |
| Distribution of family income - Gini index | 0.3 (2014 est.) 0.3 (2013 est.) |
| Budget | revenues: 829 million (2005) expenditures: 851 million (2005) |
| Taxes and other revenues | 16.6% (of GDP) (2005) |
| Budget surplus (+) or deficit (-) | -0.4% (of GDP) (2005) |
| Inflation rate (consumer prices) | 3.7% (2006) |
| Agriculture - products | potatoes, cauliflower, tomatoes; beef, dairy products |
| Industries | tourism, banking and finance, dairy, electronics |
| Industrial production growth rate | NA |
| Exports | NA |
| Exports - commodities | light industrial and electrical goods, dairy cattle, foodstuffs, textiles, flowers |
| Imports | NA |
| Imports - commodities | machinery and transport equipment, manufactured goods, foodstuffs, mineral fuels, chemicals |
| Debt - external | NA |
| Exchange rates | Jersey pounds (JEP) per US dollar 0.7836 (2017 est.) 0.738 (2016 est.) 0.738 (2015) 0.6542 (2012) 0.6391 (2011 est.) |
| Fiscal year | 1 April - 31 March |
Source: CIA World Factbook
This page was last updated on September 18, 2021
