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Guernsey:
Economy

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Economy - overview
Definition
Financial services - banking, fund management, insurance - account for about 23% of employment and about 55% of total income in this tiny, prosperous Channel Island economy. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Financial services, construction, retail, and the public sector have been growing. Light tax and death duties make Guernsey a popular tax haven. The evolving economic integration of the EU nations is changing the environment under which Guernsey operates.
GDP (purchasing power parity)
Definition - World rank and map
$2.742 billion (2005)
GDP (official exchange rate)
Definition
$2.742 billion (2005)
GDP - real growth rate
Definition - World rank and map
3% (2005 est.)
GDP - per capita
Definition - World rank and map
$44,600 (2005)
GDP - composition by sector
Definition
agriculture: 3%
industry: 10%
services: 87% (2000)
Labor force
Definition
31,470 (March 2006)
Unemployment rate
Definition - World rank and map
0.9% (March 2006 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
3.4% (June 2006)
Budget
Definition
revenues: $563.6 million
expenditures: $530.9 million (2005)
Agriculture - products
Definition
tomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle
Industries
Definition
tourism, banking
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - production
Definition - World rank and map
NA kWh
Electricity - consumption
Definition - World rank and map
NA kWh
Electricity - exports
Definition
0 kWh (2002)
Electricity - imports
Definition
0 kWh (2002)
Exports
Definition - World rank and map
$NA
Exports - commodities
Definition
tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables
Exports - partners
Definition
UK; note - regarded as internal trade (2006)
Imports
Definition - World rank and map
$NA
Imports - commodities
Definition
coal, gasoline, oil, machinery and equipment
Imports - partners
Definition
UK; note - regarded as internal trade (2006)
Debt - external
Definition - World rank and map
$NA
Economic aid - recipient
Definition
$NA
Currency (code)
Definition
Guernsey pound
note: the British pound is also legal tender
Exchange rates
Definition
Guernsey pounds per US dollar - 0.4993 (2007), 0.5418 (2006), 0.5493 (2005), 0.5462 (2004), 0.6125 (2003)
note: the Guernsey pound is at par with the British pound
Fiscal year
Definition
calendar year


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