Gross Value Added
Jersey’s finance sector, as measured by total GVA, increased by 2% in real terms in 2018
- the Banking, Fund management and Trust & company administration sub-sectors saw real-term increases in GVA
- in real terms, total GVA in 2018 was £730 million below the previous peak recorded in 2007
- total GVA of Jersey’s finance sector in 2018 was £1,843 million
GVA of finance sub-sectors (constant 2018 values)
Source: Statistics Jersey,
download the chart data
GVA of finance sub-sectors in real-terms, constant 2018 values, £ million
|Trust & company administration||505||527||+4%|
|Accountancy, mixed income and other||113||110||-3%|
The figure below shows how these figures have changed since 2002 with all
figures presented in constant 2018 values.
Labour productivity is one of the main drivers that influence national living standards, as greater labour productivity means a greater output of goods and services can be produced from a given set of labour inputs.
Labour productivity is defined as:
The table below details the labour productivity of Jersey’s financial services sector, broken down by sub-sector in current year values and shows the annual real-term change.
GVA per FTE of finance sub-sectors (constant 2018 values)
Source: Statistics Jersey, download the chart data
GVA per FTE of finance sub-sectors, current year values, and real-term change, £ thousand
|Trust & company administration||100||+2%|
|Accountancy (excluding mixed income and other)||104||-2%|
Since 2002, there has been an overall decline in labour productivity in Jersey’s finance sector, particularly since the economic downturn of 2007, but this trend has continued (albeit at a slower rate) in recent years. The figure below shows how productivity has changed in real terms since 2002.
GVA per FTE of Finance sector in real terms (constant 2018 values)
Finance and legal sector report
Statistics Jersey has run an annual survey of Jersey’s finance sector since the mid-1990s. Topics included in this survey:
gross value added
expenditure on employment
expenditure on goods and services
recruitment of local school leavers and university graduates.
read the full report here.
You can access the data tables associated with this release on the
open data website.