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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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