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Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Measuring Jersey's economy: GVA and GDP 2014 report

Produced by the Statistics Jersey (Strategic Policy, Planning and Performance)
Authored by Statistics Unit and published on 30 Sep 2015
Prepared internally, no external cost

Summary

​The main economic indicator ​which measures the value or size of the whole Jersey economy is GVA (Gross Value Added).

It's calculated from a robust methodology based on the recognised international framework.

The 2014 report shows that:

Gross Value Added (GVA):

  • on an annual basis Jersey’s economy, as measured by total GVA, grew by 5% in real terms in 2014
  • total GVA in 2014 was £3.90 billion (current year values)
  • 2014 represents the first year since 2007 that the Island’s economy has grown in real terms
  • this latest annual increase in total GVA was driven by real-term growth recorded by the finance sector
  • the majority of the non-finance sectors of the economy also recorded real-term growth in 2014
  • in real terms, total GVA in 2014 was more than £500 million below the previous peak recorded in 2007

Gross Domestic Product (GDP):

  • in real terms, GDP in 2014 grew by 4% on an annual basis
  • GDP in 2014 was £3.88 billion (current year values)

GVA per head of population:

  • GVA per head of population in Jersey in 2014 was £38,800 (current year values)
  • 2014 saw the first real-term increase in GVA per head for seven years
  • the average economic standard of living of residents in Jersey, as measured by GVA per head,has declined by a fifth (20%) in real terms since 2001

Download GVA and GDP 2014 report (size 608kb)
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