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Guernsey Economy 1996

Overview:

Financial services account for more than 50% of total income. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Bank profits (1992) registered a record 26% growth. Fund management and insurance are the two other major income generators. Per capita output and living standards are somewhat lower than the levels of the less affluent EU countries.

National product:

GDP $NA

National product real growth rate:

9% (1987)

National product per capita:

$NA

Inflation rate (consumer prices):

7% (1988)

Unemployment rate:

NA%

Budget:

revenues:

$208.9 million

expenditures:

$173.9 million, including capital expenditures of $NA (1988)

Exports:

$NA

commodities:

tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables

partners:

UK (regarded as internal trade)

Imports:

$NA

commodities:

coal, gasoline, and oil

partners:

UK (regarded as internal trade)

External debt:

$NA

Industrial production:

growth rate NA%

Electricity:

capacity:

173,000 kW

production:

525 million kWh

consumption per capita:

9,060 kWh (1992)

Industries:

tourism, banking

Agriculture:

tomatoes, flowers (mostly grown in greenhouses), sweet peppers, eggplant, other vegetables, fruit; Guernsey cattle

Economic aid:

none

Currency:

1 Guernsey (#G) pound = 100 pence

Exchange rates:

Guernsey pounds (#G) per US$1 - 0.6350 (January 1995), 0.6529 (1994), 0.6658 (1993), 0.5664 (1992), 0.5652 (1991), 0.5603 (1990); note - the Guernsey pound is at par with the British pound

Fiscal year:

calendar year

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