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    Guernsey Index 2006

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    Guernsey Economy - 2006

      Economy - overview:
      Financial services - banking, fund management, insurance - account for about 55% of total income in this tiny, prosperous 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 environment under which Guernsey operates.

      GDP (purchasing power parity):
      $2.59 billion (2003 est.)

      GDP (official exchange rate):

      GDP - real growth rate:
      3% (2003 est.)

      GDP - per capita (PPP):
      $40,000 (2003 est.)

      GDP - composition by sector:
      agriculture: 3%
      industry: 10%
      services: 87% (2000)

      Labor force:
      32,290 (2001)

      Unemployment rate:
      0.5% (1999 est.)

      Population below poverty line:

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      4.9% (2004 est.)

      revenues: $539.2 million
      expenditures: $448.3 million; including capital expenditures of $NA (2002)

      Agriculture - products:
      tomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle

      tourism, banking

      Industrial production growth rate:

      Electricity - production:
      NA kWh

      Electricity - consumption:
      NA kWh

      Electricity - exports:
      0 kWh (2002)

      Electricity - imports:
      0 kWh (2002)


      Exports - commodities:
      tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables

      Exports - partners:
      UK; note - regarded as internal trade (2004)


      Imports - commodities:
      coal, gasoline, oil, machinery and equipment

      Imports - partners:
      UK; note - regarded as internal trade (2004)

      Debt - external:

      Economic aid - recipient:

      Currency (code):
      British pound (GBP); note - there is also a Guernsey pound

      Exchange rates:
      Guernsey pounds per US dollar - 0.55 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002), 0.6947 (2001)
      note: the Guernsey pound is at par with the British pound

      Fiscal year:
      calendar year

      NOTE: The information regarding Guernsey on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guernsey Economy 2006 information contained here. All suggestions for corrections of any errors about Guernsey Economy 2006 should be addressed to the CIA.

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    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)