Measuring Jersey's economy: GVA and GDP 2013 report

01 October 2014

​​The latest report presenting estimates of the size and performance of Jersey's economy in 2013 has been published by the Statistics Unit.

Gross Value Added (GVA)

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 2013; ​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 f​inance 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)

Gross Domestic Product (GDP)

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)