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Guernsey Economy
Guernsey Economy: A summary of information about Guernsey Economy, from government research data as well as independent research and other sources.
Guernsey: Economy
Economy - overview
Financial services - banking, fund management, insurance, etc. - account for about 55% of total income in this tiny Channel Island economy. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Light tax and death duties make Guernsey a popular tax haven. The evolving economic integration of the EU nations is changing the rules of the game under which Guernsey operates.
GDP
purchasing power parity - $1.15 billion (1997 est.)
GDP - real growth rate
2.3% (1997 est.)
GDP - per capita
purchasing power parity - $18,100 (1997 est.)
GDP - composition by sector
agriculture: 4% industry: 10% services: 86% (1999 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)
4.7% (1997 est.)
Labor force
NA
Unemployment rate
0.5% (1997 est.)
Budget
revenues: $300.8 million expenditures: $298.1 million, including capital expenditures of $NA (1998 est.)
Industries
tourism, banking
Industrial production growth rate
NA%
Electricity - production
NA kWh
Electricity - production by source
fossil fuel: NA% hydro: NA% nuclear: NA% other: NA%
Electricity - consumption
NA kWh
Electricity - exports
NA kWh
Electricity - imports
NA kWh
Agriculture - products
tomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle
Exports
$NA
Exports - commodities
tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables
Exports - partners
UK (regarded as internal trade)
Imports
$NA
Imports - commodities
coal, gasoline, oil, machinery and equipment
Imports - partners
UK (regarded as internal trade)
Debt - external
$NA
Economic aid - recipient
$NA
Currency
1 Guernsey pound = 100 pence
Exchange rates
Guernsey pounds per US$1 - 0.6092 (January 2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997), 0.6403 (1996), 0.6335 (1995); note - the Guernsey pound is at par with the British pound
Fiscal year
calendar year
