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EconomyEconomy - 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, 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. Gdp (purchasing power parity) World Ranking: 166
$5.1 billion (2005 est.)
Gdp (official exchange rate)
$5.1 billion (2005 est.)
Gdp - real growth rate
NA%
Gdp - per capita (ppp) World Ranking: 6
$57,000 (2005 est.)
Gdp - composition by sector
Agriculture 1%
Industry 2% Services 97% (2005) Labor force World Ranking: 188
53,560 (June 2006)
Unemployment rate World Ranking: 18
2.2% (2006 est.)
Population below poverty line
NA%
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 World Ranking: 186
16.3% of GDP (2005)
Budget surplus (+) or deficit (-) World Ranking: 50
-0.4% of GDP (2005)
Inflation rate (consumer prices) World Ranking: 87
3.7% (2006)
Market value of publicly traded shares
$NA
Agriculture - products
Potatoes, cauliflower, tomatoes; beef, dairy products Industries
Tourism, banking and finance, dairy, electronics Industrial production growth rate
NA%
Electricity - consumption World Ranking: 156
630.1 million kWh (2004 est.)
Electricity - imports
NA kWh; note - electricity supplied by France Exports
$NA
Exports - commodities
Light industrial and electrical goods, dairy cattle, foodstuffs, textiles, flowers Imports
$NA
Imports - commodities
Machinery and transport equipment, manufactured goods, foodstuffs, mineral fuels, chemicals Debt - external
$NA
Exchange rates
Jersey pounds per US dollar
0.6241 (2011) 0.6472 (2010) 0.6175 (2009) 0.5302 (2008) 0.4993 (2007) Fiscal year
1 April - 31 March
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Jersey [ United Kingdom ] (British Crown Dependency):
 
GPS points from Jersey [ United Kingdom ] (British Crown Dependency)
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Jersey and the other Channel Islands represent the last remnants of the medieval Dukedom of Normandy that held sway in both France and England. These islands were the only British soil occupied by German troops in World War II. Jersey is a British crown dependency but is not part of the UK or of the European Union. However, the UK Government is constitutionally responsible for its defense and international representation.