Economy - overview:
Financial services - banking, fund management, insurance - account for about 23% of employment and about 55% of total income in this tiny, prosperous Channel Island economy. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Financial services, construction, retail, and the public sector have been growing. Light tax and death duties make Guernsey a popular tax haven. In January 2013, Guernsey signed a tax agreement with Jersey and the Isle of Man, in order to enable the islands' authorities to end tax avoidance and evasion. The evolving economic integration of the EU nations is changing the environment under which Guernsey operates.

GDP (purchasing power parity):
$2.742 billion (2005)
country comparison to the world: 184
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.742 billion (2005)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3% (2005 est.)
country comparison to the world: 108
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$44,600 (2005)
country comparison to the world: 16
[see also: GDP - per capita country ranks ]

GDP - composition, by sector of origin:
agriculture: 3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 10%
services: 87% (2000)

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

Industries:
tourism, banking

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Labor force:
31,470 (March 2006)
country comparison to the world: 205
[see also: Labor force country ranks ]

Unemployment rate:
0.9% (March 2006 est.)
country comparison to the world: 5
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[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%

Budget:
revenues: $563.6 million
[see also: Budget revenues country ranks ]
expenditures: $530.9 million (2005 est.)

Taxes and other revenues:
20.6% of GDP (2005)
country comparison to the world: 162
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
1.2% of GDP (2005)
country comparison to the world: 33
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
3.4% (June 2006)
country comparison to the world: 106
[see also: Inflation rate (consumer prices) country ranks ]

Exports:
$NA
[see also: Exports country ranks ]

Exports - commodities:
tomatoes, flowers and ferns, sweet peppers, eggplant, other vegetables

Imports:
$NA
[see also: Imports country ranks ]

Imports - commodities:
coal, gasoline, oil, machinery and equipment

Debt - external:
$NA
[see also: Debt - external country ranks ]

Exchange rates:
Guernsey pound