nd in the upper quadrant, surmounted by a
yellow crown, a red shield holding the three lions of England in
yellow

Jersey Economy

Economy - overview: The economy is based largely on international
financial services, agriculture, and tourism. 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. In 1996 the finance
sector accounted for about 60% of the island's output. Tourism,
another mainstay of the economy, accounts for 24% 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.

GDP: purchasing power parity - $2.2 billion (1999 est.)

GDP - real growth rate: NA%

GDP - per capita: purchasing power parity - $24,800 (1999 est.)

GDP - composition by sector: agriculture: 5%

industry: 2%

services: 93% (1996)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA%

highest 10%: NA%

Inflation rate (consumer prices): 4.7% (1998)

Labor force: 57,050 (1996)

Unemployment rate: 0.7% (1998 est.)

Budget: revenues: $601 million

expenditures: $588 million, including capital expenditures of $98
million (2000 est.)

Industries: tourism, banking and finance, dairy

Industrial production growth rate: NA%

Electricity - imports: NA kWh

note: electricity supplied by France

Agriculture - products: potatoes, cauliflower, tomatoes; beef, dairy
products

Exports: $NA

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

Exports - partners: UK

Imports: $NA

Imports - commodities: machinery and transport equipment,
manufactured goods, foodstuffs, mineral fuels, chemicals

Imports - partners: UK

Debt - external: none

Economic aid - recipient: none

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

Currency code: GBP

Exchange rates: Jersey pounds per US dollar - 0.6764 (January 2001),
0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997), 0.6403
(1996)