The Economy of Guernsey

Guernsey flag

The Economy of Guernsey

Channel Islander Economy

Guernsey's map

Economy - overview: Financial services - banking, fund management, insurance - account for about 23% 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. The evolving economic integration of the EU nations is changing the environment under which Guernsey operates.

GDP:

GDP - real growth rate: 3% (2005 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 3% industry: 10% services: 87% (2000)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 31,470 (March 2006)

Labor force - by occupation:

Unemployment rate: 0.9% (March 2006 est.)

Budget: revenues: $563.6 million expenditures: $530.9 million (2005)

Industries: tourism, banking

Industrial production growth rate: NA%

Electricity - production: NA kWh

Electricity - production by source:

Electricity - consumption: NA kWh

Electricity - exports: 0 kWh (2002)

Electricity - imports: 0 kWh (2002)

Oil - production:

Oil - consumption:

Oil - exports:

Oil - imports:

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

Agriculture - products: tomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle

Exports: $NA

Exports - commodities: tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables

Exports - partners:

Imports: $NA

Imports - commodities: coal, gasoline, oil, machinery and equipment

Imports - partners:

Debt - external: $NA

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Guernsey pound 0.5302 (2008 est.), 0.4993 (2007), 0.5418 (2006), 0.5493 (2005), 0.5462 (2004) note: the Guernsey pound is at par with the British pound

Fiscal year:

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