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. The evolving economic integration of the EU nations is changing the environment under which Guernsey operates.
GDP (purchasing power parity):
$2.742 billion (2005)
GDP (official exchange rate):
$2.742 billion (2005)
GDP - real growth rate:
3% (2005 est.)
GDP - per capita (PPP):
$44,600 (2005)