Jersey

Jersey’s economy is based on international financial services, agriculture, and tourism. In 2005 the finance 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. Living standards come close to those of the UK.

$5.1 billion (2005 est.)

$5.1 billion (2005 est.)

NA%

$57,000 (2005 est.)

53,560 (June 2006)

2.2% (2006 est.)

NA%

3.7% (December 2006)

$NA

potatoes, cauliflower, tomatoes; beef, dairy products

tourism, banking and finance, dairy, electronics

NA%

630.1 million kWh (2004 est.)

NA kWh; note - electricity supplied by France

$NA

light industrial and electrical goods, dairy cattle, foodstuffs, textiles, flowers

$NA

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

$NA

Jersey pounds per US dollar 0.6504 (2010), 0.6389 (2009), 0.5302 (2008), 0.4993 (2007), 0.5418 (2006)