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

National accounts: GVA and GDP

The size of Jersey's economy, as measured by GVA (Gross Value Added), was £3.7 billion in 2013.

​Gross Value Added (GVA)

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. 

Latest figures​

The latest report shows that:

  • in 2013 Jersey’s economy as measured by total GVA, was essentially unchanged in real terms on an annual basis
  • 2013 represents the first occasion in six years that total GVA has not recorded a significant fall in real terms on an annual basis
  • the relative stability of total GVA in 2013 compared with the previous year was driven by the real-term growth recorded by several non-finance sectors:
    • agriculture, hotels, restaurants and bars, the private sector service industries, the public sector, transport, storage and communications and the utilities sector each recorded real-term growth of GVA in 2013
    • in contrast, the GVA of the finance sector, which accounted for more than two-fifths (42%) of all economic activity in the Island, decreased by 3% in real-terms in 20​13; Construction and Manufacturing also recorded real term falls of GVA in 2013
  • since the global economic downturn in 2008, the total GVA of Jersey’s economy has decreased by a sixth (16%) in real terms. Over this period, the GVA of the finance sector has decreased by a third (33%) in real terms, whilst that of the non-finance sectors, overall, has decreased by 5%
  • total GVA in 2013 was £3.7 billion (current year values)

GVA can be measured by three approaches:

  • expenditure (the sum of all final expenditure in the economy eg consumer and government spending, capital investment, imports and exports)
  • output (the difference between total production and the purchases made to generate that production)
  • income (the sum of profits and earnings) 

At present data only exists in Jersey to enable calculation of the income measure.​

Download GVA and GDP 2013 report (size 186kb)

Gross Domestic Product (GDP)​​

Gross Domestic Product (GDP) is the traditional aggregate measure of an economy which requires specific treatment for services indirectly charged by financial services institutions (FISIM)

Latest figures

The latest report shows that:

  • GDP in 2013 was £3.7 billion (current year values)
  • in real terms, GDP in 2013 was essentially unchanged on an annual basis

Download GVA and GDP 2013 report (size 186kb)

Next report

The next report, 'Measuring Jersey's economy: Gross Value Added (GVA) 2014​', will be released in​ October 2015.

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