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    Guernsey Economy 2000

      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 rules of the game under which Guernsey operates.

      GDP: purchasing power parity - $1.15 billion (1997 est.)

      GDP - real growth rate: 2.3% (1997 est.)

      GDP - per capita: purchasing power parity - $18,100 (1997 est.)

      GDP - composition by sector:
      agriculture: 4%
      industry: 10%
      services: 86% (1999 est.)

      Population below poverty line: NA%

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices): 4.7% (1997 est.)

      Labor force: NA

      Unemployment rate: 0.5% (1997 est.)

      Budget:
      revenues: $300.8 million
      expenditures: $298.1 million, including capital expenditures of $NA (1998 est.)

      Industries: tourism, banking

      Industrial production growth rate: NA%

      Electricity - production: NA kWh

      Electricity - production by source:
      fossil fuel: NA%
      hydro: NA%
      nuclear: NA%
      other: NA%

      Electricity - consumption: NA kWh

      Electricity - exports: NA kWh

      Electricity - imports: NA kWh

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

      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)

      Debt - external: $NA

      Economic aid - recipient: $NA

      Currency: 1 Guernsey pound = 100 pence

      Exchange rates: Guernsey pounds per US$1 - 0.6092 (January 2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997), 0.6403 (1996), 0.6335 (1995); note - the Guernsey pound is at par with the British pound

      Fiscal year: calendar year

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    Revised 01-Nov-00
    Copyright © 2000 Photius Coutsoukis (all rights reserved)


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