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Measuring Jersey's economy: GVA and GDP 2015

28 September 2016

​The latest report presenting estimates of the size and performance of Jersey's economy in 2015 has been published by the Statistics Unit.

Gross Value Added (GVA)

In 2015:

  • Jersey’s economy, as measured by total GVA, grew by 2% in real terms on an annual basis
  • total GVA  was £4.11 billion (current year values)
  • it was the second consecutive year that the Island’s economy has grown in real terms
  • the majority of the non-finance sectors of the economy recorded real-term growth in GVA whilst the Finance sector saw GVA decline by 1% on an annual basis
  • compensation of employees (“earnings”) was the key driver in the real-term growth of total GVA, notably in financial services, the private sector service industries and construction
  • rental income of private households (both actual and imputed) was also a key element in the real-term growth of total GVA
  • in contrast, gross operating surplus (“profits”) declined on an annual basis, driven by the decrease recorded by financial services

Gross Domestic Product (GDP)

  • GDP in 2015 grew by 2% in real terms on an annual basis
  • GDP in 2015 was £4.07 billion (current year values)


  • GVA per full-time equivalent worker, declined marginally in 2015 (down by 0.2%)
  • the non-finance sectors saw productivity increase by 3% in 2015, whilst the Finance sector saw productivity decrease by 4%
  • over all sectors of the economy, productivity has fallen by a fifth (20%) in real terms since 2007, driven by a decline in productivity of the Island’s finance sector of more than a quarter (29%)

GVA per head of population

  • GVA per head of population in 2015 was £40,000 (current year values)
  • GVA per head of population in 2015 was marginally higher than a year earlier (up by 0.5%)
  • the average economic standard of living of residents in Jersey, as measured by GVA per head of population, has declined by more than a sixth (18%) in real terms since 2007

Download Measuring Jersey's economy: GVA and GDP 2015 report (size 796kb)

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