Jersey Economy

Is Jersey a rich country?

Jersey's economy is based on international financial services, agriculture, and tourism. In 2016, the financial services sector accounted for about 41% of the island's output. Agriculture represented about 1% of Jersey’s economy in 2016. Potatoes are an important export crop, shipped mostly to the UK. The Jersey breed of dairy cattle originated on the island and is known worldwide. The dairy industry remains important to the island with approximately $8.8 million gallons of milk produced in 2015. Tourism accounts for a significant portion of Jersey’s economy, with more than 700,000 total visitors in 2015. Living standards come close to those of the UK. All raw material and energy requirements are imported as well as a large share of Jersey's food needs. Light taxes and death duties make the island a popular offshore financial center. Jersey maintains its relationship with the EU through the UK. Therefore, in light of the UK’s decision to leave the EU, Jersey will also need to renegotiate its ties to the EU.

Jersey Economy Data

What is the GDP of Jersey?

GDP - Gross Domestic Product (PPP) $5,771,000,000 (USD)
GDP - official exchange rate $5,771,000,000 (USD)
GDP - real growth rate -0.3%
GDP Per Capita $57,000.00 (USD)
GDP by Sector- agriculture 2%
GDP by Sector- Industry 2%
GDP by Sector- services 96%
Inflation Rate 3.7%
Labor Force 53,560
Unemployment Rate 2.2%
Fiscal Year 1 April - 31 March
Annual Budget $829,000,000 (USD)
Budget Surplus or Deficit - percent of GDP -0.4%
Taxes and other revenues - percent of GDP 16.3%
Major Industries tourism, banking and finance, dairy
Agriculture Products potatoes, cauliflower, tomatoes; beef, dairy products
Currency Code British pound (GBP); note - there is also a Jersey pound

Labor Force by Occupation- As reported by Jersey

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