Economy Of Guernsey

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 EU nations is changing the environment under which Guernsey operates.
GDP	purchasing power parity - $1.3 billion (1999 est.)
GDP - real growth rate	5.7% (1999 est.)
GDP - per capita	purchasing power parity - $20,000 (1999 est.)
GDP - composition by sector	agriculture: 3% industry: 10% services: 87% (2000)
Investment gross fixed
Population below poverty line	NA
Household income or consumption by percentage share	lowest 10%: NA highest 10%: NA
Distribution of family income - Gini index
Inflation rate consumer prices	4% (2000 est.)
Labor force	31,320 (2000)
Labor force by occupation
Unemployment rate	0.5% (1999 est.)
Budget	revenues: $381.3 million expenditures: $368.8 million, including capital expenditures of NA (2000 est.)
Public debt
Agriculture products	tomatoes, greenhouse flowers, sweet peppers, eggplant, fruit; Guernsey cattle
Industries	tourism, banking
Industrial production growth rate	NA
Electricity production	NA kWh
Electricity production by source	fossil fuel: NA hydro: NA other: NA nuclear: NA
Electricity consumption	NA kWh
Electricity exports	0 kWh (2002)
Electricity imports	0 kWh (2002)
Oil production
Oil consumption
Oil exports
Oil imports
Oil proved reserves
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves
Current account balance
Exports	NA
Exports commodities	tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables
Exports partners	UK (regarded as internal trade)
Imports	NA
Imports commodities	coal, gasoline, oil, machinery and equipment
Imports partners	UK (regarded as internal trade)
Reserves of foreign exchange gold
Debt external	NA
Economic aid recipient	NA
Currency	British pound (GBP); note - there is also a Guernsey pound
Currency code	GBP
Exchange rates	Guernsey pounds per US dollar - 0.6661 (2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998); note - the Guernsey pound is at par with the British pound
Fiscal year	calendar year

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This information was reproduced in part from the CIA World Fact book.

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