Guernsey ECONOMY

The Island’s Gross Domestic Product (GDP) was estimated at £1,508 million in 2005. This equates to £24,538 per head of population.

According to the Social Security Department there were 31,156 people employed in Guernsey in March 2006, of which, 27,972 were working for an employer and 3,184 were self employed. Unemployment in Guernsey has continued at low levels and stands at less than 1% of the workforce.

The overall trend in the level of inflation has been somewhat cyclical over the last 10 years, and has tended to follow the movements of the UK RPI, but at a slightly higher level. At the end of June 2008, the Guernsey RPI stood at 5.5%.

The States Income on Revenue Account was £310 million and the Expenditure on Revenue Account was £292 million in 2005.