Jersey

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Introduction - Jersey:
Location - Jersey:
People - Jersey:
Government - Jersey:
Economy - Jersey:

Economy overview

Jerseys economy is based on international financial services, agriculture, and tourism. In 2005 the finance sector accounted for about 50% of the islands output. Potatoes, cauliflower, tomatoes, and especially flowers are important export crops, shipped mostly to the UK. The Jersey breed of dairy cattle is known worldwide and represents an important export income earner. Milk products go to the UK and other EU countries. Tourism accounts for one-quarter of GDP. In recent years, the government has encouraged light industry to locate in Jersey, with the result that an electronics industry has developed alongside the traditional manufacturing of knitwear. All raw material and energy requirements are imported, as well as a large share of Jerseys food needs. Light taxes and death duties make the island a popular tax haven. Living standards come close to those of the UK.

Gdp purchasing power parity

$5.1 billion (2005 est.)

Gdp official exchange rate

$5.1 billion (2005 est.)

Gdp real growth rate

NA%

Gdp per capita ppp

$57,000 (2005 est.)

Gdp composition by sector

agriculture: 1%
industry: 2%
services: 97% (2005)

Labor force

53,560 (June 2006)

Unemployment rate

2.2% (2006 est.)

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate consumer prices

3.7% (December 2006)

Budget

revenues: $829 million
expenditures: $851 million; including capital expenditures of $78 million (2005 est.)

Agriculture products

potatoes, cauliflower, tomatoes; beef, dairy products

Industries

tourism, banking and finance, dairy, electronics

Industrial production growth rate

NA%

Electricity consumption

630.1 million kWh (2004 est.)

Electricity imports

NA kWh; note - electricity supplied by France

Exports

$NA

Exports commodities

light industrial and electrical goods, foodstuffs, textiles

Exports partners

UK (2006)

Imports

$NA

Imports commodities

machinery and transport equipment, manufactured goods, foodstuffs, mineral fuels, chemicals

Imports partners

UK (2006)

Debt external

$NA

Currency code

British pound (GBP); note - there is also a Jersey pound

Exchange rates

Jersey pounds per US dollar - 0.5418 (2006), 0.5493 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002)
note: the Jersey pound is at par with the British pound

Communications - Jersey:
Transportation - Jersey:
Military - Jersey:
This page was last updated on 16 September, 2007
Source: CIA >>>


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