Europe > Jersey > Economy

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Agriculture > products potatoes, cauliflower, tomatoes; beef, dairy products
Budget > Expenditures	$851,000,000.00		[132nd of 165]
Budget > Revenues	$829,000,000.00		[130th of 166]
Debt > External	$0.00		[136th of 136]
Economic aid > Recipient	$0.00		[12th of 134]
Economy > Overview 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 alongside the traditional manufacturing of knitwear. 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.
Exchange rates Jersey pounds per US dollar - 0.5462 (2004), 0.6125 (2003), 0.6672 (2002), 0.6947 (2001), 0.6609 (2000)
Exchange rates > Note the Jersey pound is at par with the British pound
Exports > Commodities light industrial and electrical goods, dairy cattle, foodstuffs, textiles
Exports > Partners	UK
Fiscal year	1 April - 31 March
GDP	$2,200,000,000.00		[139th of 203]
GDP (official exchange rate)	$5,100,000,000.00		[127th of 192]
GDP (purchasing power parity)	$5,100,000,000.00		[155th of 187]
GDP > Composition by sector > Agriculture	1%		[126th of 146]
GDP > Composition by sector > Industry	2%		[137th of 146]
GDP > Composition by sector > Services	97%		[1st of 146]
Imports > Commodities machinery and transport equipment, manufactured goods, foodstuffs, mineral fuels, chemicals
Industries tourism, banking and finance, dairy, electronics
Inflation rate (consumer prices)	3.7%		[97th of 192]

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