Guernsey - Economy
How is the economy of Guernsey? Based on the information we have, Guernsey has a high-income English Channel island economy; strong financial sector but stressed due to COVID-19 disruptions; manufacturing, tourism, and construction industries suffered but expected to recover; stable inflation; maintains independent taxation authority. Key agricultural products in this country include: tomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle.
More about the economy of Guernsey
| Labor force | 86,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 1.64% (2022 est.) |
| Industries | tourism, banking |
| Population below poverty line | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | Guernsey pound per US dollar |
| Exchange rates 2023 | 0.805 (2023 est.) |
| Exchange rates 2022 | 0.811 (2022 est.) |
| Exchange rates 2021 | 0.727 (2021 est.) |
| Exchange rates 2020 | 0.78 (2020 est.) |
| Exchange rates 2019 | 0.783 (2019 est.) |
| Debt - external | |
| Budget | |
| Revenues | $563.6 million (2005) |
| Expenditures | $530.9 million (2005 est.) |
| Budget surplus (+) or deficit (-) | |
| Imports (partners) | almost entirely United Kingdom (2022) |
| Comodities Imports force | ships, aircraft, refined petroleum, mineral manufactures, beverages (2022) |
| Exports (partners) | almost entirely United Kingdom (2022) |
| Comodities Exports force | aircraft, photo lab equipment, clocks, ships, paintings, scientific instruments (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2015 | $3.465 billion (2015 est.) |
| Real GDP (purchasing power parity) 2014 | $3.451 billion (2014 est.) |
| GDP (official exchange rate) | $11.228 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2014 | $52,500 (2014 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 3% (2000) |
| Industry | 10% (2000) |
| Services | 87% (2000) |
| Unemployment rate | |
| Unemployment rate 2023 | 5.98% (2023 est.) |
| Unemployment rate 2022 | 5.91% (2022 est.) |
| Unemployment rate 2021 | 6.61% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 13.5% (2023 est.) |
| Male | 13.7% (2023 est.) |
| Female | 13.2% (2023 est.) |
All Important Facts about Guernsey
Want to know more about Guernsey? Check all different factbooks for Guernsey below.
