Guernsey Economy - 2021


SOURCE: 2021 CIA WORLD FACTBOOK

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Economic overview

Financial services accounted for about 21% of employment and about 32% of total income in 2016 in this tiny, prosperous Channel Island economy. Construction, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Financial services, professional services, tourism, retail, and the public sector have been growing. Light tax and death duties make Guernsey a popular offshore financial center.

Real GDP growth rate

0.4% (2015 est.)

1.2% (2014 est.)

4.2% (2012 est.)

country comparison to the world: 187

Inflation rate (consumer prices)

3.4% (June 2006 est.)

country comparison to the world: 153

Real GDP (purchasing power parity)

$3.465 billion (2015 est.)

$3.451 billion (2014 est.)

$3.42 billion (2013 est.)

note: data are in 2015 dollars

country comparison to the world: 189

GDP (official exchange rate)

$2.742 billion (2005 est.)

Real GDP per capita

$52,500 (2014 est.)

country comparison to the world: 27

GDP - composition, by sector of origin

agriculture: 3% (2000)

industry: 10% (2000)

services: 87% (2000)

Agricultural products

tomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle

Industries

tourism, banking

Industrial production growth rate

N/A

Labor force

31,470 (March 2006)

country comparison to the world: 202

Unemployment rate

1.2% (2016 est.)

country comparison to the world: 14

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: 563.6 million (2005)

expenditures: 530.9 million (2005 est.)

Taxes and other revenues

20.6% (of GDP) (2005)

country comparison to the world: 146

Budget surplus (+) or deficit (-)

1.2% (of GDP) (2005)

country comparison to the world: 29

Fiscal year

calendar year

Exports

N/A

Exports - commodities

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

Imports

N/A

Imports - commodities

coal, gasoline, oil, machinery, and equipment

Debt - external

N/A

Exchange rates

Guernsey pound per US dollar

0.7836 (2017 est.)

0.738 (2016 est.)

0.738 (2015)

0.6542 (2014)

0.607 (2013)

NOTE: The information regarding Guernsey on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Guernsey 2021 information contained here. All suggestions for corrections of any errors about Guernsey 2021 should be addressed to the CIA or the source cited on each page.

This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.