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Measuring Jersey's economy: GVA and GDP 2020

01 October 2021

​The latest report presenting estimates of the size and performance of Jersey's economy in 2020 has been published today by Statistics Jersey.

Summary for 2020

Gross Domestic Product (GDP)
  • GDP decreased by 9.2% in real terms on an annual basis
  • GDP was £4,528 million
Gross Value Added (GVA) 
  • GVA at basic prices decreased by 8.7% in real terms on an annual basis
  • total GVA at basic prices was £4,636 million 
  • the majority of sectors recorded real term decrease in GVA at basic prices, with the hotels, restaurants and bars sector recording the largest percentage decrease of any sector
  • public administration saw the largest increase in GVA, driven primarily by increased employment in that sector
Labour productivity
  • productivity, measured by GVA per full-time equivalent (FTE) worker, decreased by 8% in real terms in 2020
    • the finance sector saw productivity decrease by 9% in real terms
    • the non-finance sectors, overall, saw productivity decrease by 7% in real terms
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