Economy - overview:
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.
GDP (purchasing power parity):
$5.569 billion (2016 est.)
$5.514 billion (2015 est.)
$4.98 billion (2014)
note: data are in 2015 US dollars
country comparison to the world (CIA rank, may be based on non-current data): 175
[see also: GDP country ranks ]
[see also: GDP country ranks ]
GDP (official exchange rate):
$5.004 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
1% (2016 est.)
10.7% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 184
[see also: GDP - real growth rate country ranks ]
[see also: GDP - real growth rate country ranks ]
GDP - per capita:
$56,600 (2016 est.)
$49,500 (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 21
[see also: GDP - per capita country ranks ]
[see also: GDP - per capita country ranks ]
GDP - composition, by sector of origin:
agriculture: 2% (2010)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 2% (2010)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 96% (2010)
[see also: GDP - composition, by sector of origin - services country ranks ]
Agriculture - products:
potatoes, cauliflower, tomatoes; beef, dairy products
Industries:
tourism, banking and finance, dairy, electronics
Industrial production growth rate:
NA
[see also: Industrial production growth rate country ranks ]
[see also: Industrial production growth rate country ranks ]
Labor force:
59,950 (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 187
[see also: Labor force country ranks ]
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 3%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 12%
[see also: Labor force - by occupation - industry country ranks ]
services: 85% (2014 est.)
[see also: Labor force - by occupation - services country ranks ]
Unemployment rate:
4% (2015 est.)
4.6% (2014 est.)
country comparison to the world (CIA rank, may be based on non-current data): 52
[see also: Unemployment rate country ranks ]
[see also: Unemployment rate country ranks ]
Population below poverty line:
NA
[see also: Population below poverty line country ranks ]
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: NA
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
Distribution of family income - Gini index:
0.3 (2014 est.)
0.3 (2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 158
[see also: Distribution of family income - Gini index country ranks ]
[see also: Distribution of family income - Gini index country ranks ]
Budget:
revenues: 829 million (2005)
[see also: Budget - revenues country ranks ]
expenditures: 851 million (2005)
[see also: Budget - expenditures country ranks ]
Taxes and other revenues:
16.6% (of GDP) (2005)
country comparison to the world (CIA rank, may be based on non-current data): 179
[see also: Taxes and other revenues country ranks ]
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-0.4% (of GDP) (2005)
country comparison to the world (CIA rank, may be based on non-current data): 57
[see also: Budget surplus (+) or deficit (-) country ranks ]
[see also: Budget surplus (+) or deficit (-) country ranks ]
Fiscal year:
1 April - 31 March
Inflation rate (consumer prices):
3.7% (2006)
country comparison to the world (CIA rank, may be based on non-current data): 146
[see also: Inflation rate (consumer prices) country ranks ]
[see also: Inflation rate (consumer prices) country ranks ]
Market value of publicly traded shares:
NA
[see also: Market value of publicly traded shares country ranks ]
[see also: Market value of publicly traded shares country ranks ]
Exports:
NA
[see also: Exports country ranks ]
[see also: Exports country ranks ]
Exports - commodities:
light industrial and electrical goods, dairy cattle, foodstuffs, textiles, flowers
Imports:
NA
[see also: Imports country ranks ]
[see also: Imports country ranks ]
Imports - commodities:
machinery and transport equipment, manufactured goods, foodstuffs, mineral fuels, chemicals
Debt - external:
NA
[see also: Debt - external country ranks ]
[see also: Debt - external country ranks ]
Stock of direct foreign investment - at home:
(31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]
[see also: Stock of direct foreign investment - at home country ranks ]
Exchange rates:
Jersey pounds (JEP) per US dollar
0.7836 (2017 est.)
0.738 (2016 est.)
0.738 (2015)
0.6542 (2012)
0.6391 (2011 est.)