| Economy - overview | Financial services - banking, fund management, insurance - account for about 23% of employment and 32% 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 - real growth rate | 3% (2005 est.) |
|
| GDP - composition by sector | agriculture: 3%
industry: 10%
services: 87% (2000) |
|
| Population below poverty line | NA% |
|
Household income or consumption
by percentage share | lowest 10%: NA%
highest 10%: NA% |
|
| Labor force | 31,470 (March 2006) |
|
| Unemployment rate | 0.9% (March 2006 est.) |
|
| Budget | revenues: $563.6 million
expenditures: $530.9 million; including capital expenditures of $NA (2005 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 | 0 kWh (2002) |
|
Electricity -
imports | 0 kWh (2002) |
|
| 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; note - regarded as internal trade (2004) |
|
| Imports | $NA |
|
| Imports - commodities | coal, gasoline, oil, machinery and equipment |
|
| Imports - partners | UK; note - regarded as internal trade (2004) |
|
| Debt - external | $NA |
|
| Economic aid - recipient | $NA |
|
| Currency code | GBP |
|
| Exchange rates | Guernsey pounds per US dollar - 0.5418 (2006), 0.5493 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002)
note: the Guernsey pound is at par with the British pound |
|
| Fiscal year | calendar year |
|
