Economy - overview The economy is based largely on financial services, agriculture, and tourism. Potatoes, cauliflower, tomatoes, and especially flowers are important export crops, shipped mostly to the UK. The Jersey breed of dairy cattle is known worldwide and represents an important export earner. Milk products go to the UK and other EU countries. In 1986 the finance sector overtook tourism as the main contributor to GDP, accounting for 40% of the island's output. In recent years, the government has encouraged light industry to locate in Jersey, with the result that an electronics industry has developed alongside the traditional manufacturing of knitwear. All raw material and energy requirements are imported, as well as a large share of Jersey's food needs. Light tax and death duties make the island a popular tax haven.

GDP purchasing power parity - $NA

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $NA

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

Inflation rate - consumer price index NA%

Labor force NA

Unemployment rate NA%

Budget
revenues: $643.7 million
expenditures: $597.2 million, including capital expenditures of $NA (1995 est.)

Industries tourism, banking and finance, dairy

Industrial production growth rate NA%

Electricity - capacity 50,000 kW standby
note: electricity supplied by France

Electricity - production NA kWh
note: electricity supplied by France

Electricity - consumption per capita NA kWh (1992)

Agriculture - products potatoes, cauliflowers, tomatoes; meat, dairy products

Exports $NA
commodities: light industrial and electrical goods, foodstuffs, textiles
partners: UK

Imports $NA
commodities: machinery and transport equipment, manufactured goods, foodstuffs, mineral fuels, chemicals
partners: UK

Debt - external $NA

Economic aid none

Currency 1 Jersey pound (£J) = 100 pence

Exchange rates Jersey pounds (£J) per US$1 - 0.6115 (January 1998), 0.6106 (1997), 0.6403 (1996), 0.6335 (1995), 0.6529 (1994), 0.6658 (1993); the Jersey pound is at par with the British pound

Fiscal year 1 April - 31 March

NOTE: The information regarding Jersey 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 Jersey Economy 1998 information contained here. All suggestions for corrections of any errors about Jersey Economy 1998 should be addressed to the CIA.