Economy - overview Financial services account for about 55% of total income. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Bank profits (1992) registered a record 26% growth. Fund management and insurance are the two other major income generators. Light tax and death duties make the island a popular tax-haven.

GDP $NA

GDP - real growth rate NA%

GDP - per capita $NA

GDP - composition by sector
agriculture: NA%
industry: NA%
services: NA%

Inflation rate - consumer price index 7% (1988)

Labor force NA

Unemployment rate 3%-4% (1994 est.)

Budget
revenues: $277.9 million
expenditures: $248.8 million, including capital expenditures of $NA (1995 est.)

Industries tourism, banking

Industrial production growth rate NA%

Electricity - capacity NA kW

Electricity - production NA kWh

Electricity - consumption per capita NA kWh

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

Exports $NA
commodities: tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables
partners: UK (regarded as internal trade)

Imports $NA
commodities: coal, gasoline, oil, machinery and equipment
partners: UK (regarded as internal trade)

Debt - external $NA

Economic aid none

Currency 1 Guernsey (£G) pound = 100 pence

Exchange rates Guernsey pounds (£G) per US$1 - 0.6115 (January 1998), 0.6106 (1997), 0.6403 (1996), 0.6335 (1995), 0.6529 (1994), 0.6658 (1993); 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 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guernsey Economy 1998 information contained here. All suggestions for corrections of any errors about Guernsey Economy 1998 should be addressed to the CIA.