Jersey Economy - 2024

Economic overview

British territorial island economy; strong offshore banking and finance sectors; low asset taxation; strong tourism sector prior to COVID-19 and Brexit; one of the most expensive places to live; minimal welfare system; historical cider industry

Real GDP (purchasing power parity)

$5.569 billion (2016 est.)
$5.514 billion (2015 est.)
$4.98 billion (2014 est.)

note: data are in 2015 US dollars

Real GDP growth rate

1% (2016 est.)
10.7% (2015 est.)

Real GDP per capita

$56,600 (2016 est.)
$49,500 (2015 est.)

GDP (official exchange rate)

$5.004 billion (2015 est.)

Inflation rate (consumer prices)

3.7% (2006)

GDP - composition, by sector of origin

agriculture: 2% (2010)

industry: 2% (2010)

services: 96% (2010)

Agricultural products

potatoes, cauliflower, tomatoes; beef, dairy products

Industries

tourism, banking and finance, dairy, electronics

Industrial production growth rate

N/A

Labor force

86,800 (2021 est.)

Unemployment rate

7.37% (2021 est.)
7.69% (2020 est.)
6.41% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 15.8% (2021 est.)

male: 15.9%

female: 15.6%

Population below poverty line

N/A

Gini Index coefficient - distribution of family income

0.3 (2014 est.)

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $829 million (2005)

expenditures: $851 million (2005)

Budget surplus (+) or deficit (-)

-0.4% (of GDP) (2005)

Taxes and other revenues

16.6% (of GDP) (2005)

Fiscal year

1 April - 31 March

Exports

N/A

Exports - partners

almost entirely United Kingdom (2022)

Exports - commodities

refined petroleum, beverages, ships, jewelry, artwork (2022)

Imports

N/A

Imports - partners

almost entirely United Kingdom (2022)

Imports - commodities

artwork, ships, vegetables, fruits, jewelry (2022)

Debt - external

N/A

Exchange rates

Jersey pounds (JEP) per US dollar

Exchange rates:
0.7836 (2017 est.)
0.738 (2016 est.)
0.738 (2015)
0.6542 (2012)
0.6391 (2011 est.)