Economy - overview:
Jersey's economy is based on international financial services, agriculture, and tourism. In 2010, the financial services sector accounted for about 50% of the island's output. Potatoes, cauliflower, tomatoes, and especially flowers are important export crops, shipped mostly to the UK. The Jersey breed of dairy cattle is known worldwide and represents an important export income earner. Tourism accounts for one-quarter of GDP. Living standards come close to those of the UK. In recent years, the government has encouraged light industry to locate in Jersey with the result that an electronics industry has developed, displacing more traditional industries. 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 tax haven. In October 2014, Jersey signed an OECD agreement to automatically exchange some financial account information to limit tax avoidance and evasion.

GDP (purchasing power parity):
$5.771 billion (FY12/13 est.) $5.786 billion (FY11/12)
note: data are in 2013 US dollars
country comparison to the world: 171
[see also: GDP country ranks ]

GDP (official exchange rate):
$5.771 billion (FY 2012/13 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-0.3% (FY12/13 est.)
country comparison to the world: 198
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$57,000 (2005 est.)
country comparison to the world: 19
[see also: GDP - per capita country ranks ]

GDP - composition, by sector of origin:
agriculture: 2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 96% (2010)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
potatoes, cauliflower, tomatoes; beef, dairy products

Industries:
tourism, banking and finance, dairy, electronics

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Labor force:
53,380 (June 2012)
country comparison to the world: 189
[see also: Labor force country ranks ]

Unemployment rate:
1.7% (2012 est.) 2.2% (2006 est.)
country comparison to the world: 8
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $829 million
[see also: Budget revenues country ranks ]
expenditures: $851 million (2005)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
14.4% of GDP (2005)
country comparison to the world: 194
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.4% of GDP (2005)
country comparison to the world: 37
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
3.7% (2006)
country comparison to the world: 155
[see also: Inflation rate (consumer prices) country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Exports:
$NA
[see also: Exports country ranks ]

Exports - commodities:
light industrial and electrical goods, dairy cattle, foodstuffs, textiles, flowers

Imports:
$NA
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment, manufactured goods, foodstuffs, mineral fuels, chemicals

Debt - external:
$NA
[see also: Debt - external country ranks ]

Exchange rates:
Jersey pounds (JEP) per US dollar 0.607 (2014) 0.607 (2013) 0.6542 (2012) 0.6391 (2011 est.)