Economy - overview:
Jersey's economy is based on international financial services, agriculture, and tourism. In 2010 the financial services sector accounted for about 50% of the island's 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, displacing more traditional industries. 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 tax haven. In January 2013, Jersey signed a tax agreement with Guernsey and the Isle of Man, in order to enable the islands' authorities to end tax avoidance and evasion. Living standards come close to those of the UK.

GDP (purchasing power parity):
$5.1 billion (2005 est.)
country comparison to the world: 171
[see also: GDP country ranks ]

GDP (official exchange rate):
$5.1 billion (2005 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
NA%
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$57,000 (2005 est.)
country comparison to the world: 8
[see also: GDP - per capita country ranks ]

GDP - composition, by sector of origin:
agriculture: 2%
industry: 2%
services: 96% (2010)

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 ]

Labor force:
53,380 (June 2012)
country comparison to the world: 189
[see also: Labor force country ranks ]

Unemployment rate:
1.7% (2012 est.)
country comparison to the world: 8
2.2% (2006 est.)
[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%
highest 10%: NA%

Budget:
revenues: $829 million
expenditures: $851 million (2005)

Taxes and other revenues:
16.3% of GDP (2005)
country comparison to the world: 187
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.4% of GDP (2005)
country comparison to the world: 53
[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: 126
[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 ]

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

Exports - commodities:
light industrial and electrical goods, dairy cattle, foodstuffs, textiles, flowers

Imports:
$NA
[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 ]

Exchange rates:
Jersey pounds (JEP) per US dollar
0.6307 (2014)
0.6391 (2013)
0.6472 (2010)
0.6175 (2009)
0.5302 (2008)