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 European Union 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: United Kingdom (regarded as internal trade)
Imports: $NA
Imports - commodities: coal, gasoline, oil, machinery and equipment
Imports - partners: United Kingdom (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
Common misspelling and questions (FAQ)
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