Measuring Jersey's economy: GVA and GDP 2014 report

30 September 2015

The latest report presenting estimates of the size and performance of Jersey's economy in 2014 has been published by the Statistics Unit.

Gross Value Added (GVA)​:

• on an annual basis Jersey’s economy, as measured by total GVA, grew by 5% in real terms in 2014
• total GVA in 2014 was £3.90 billion (current year values)
• 2014 represents the first year since 2007 that the Island’s economy has grown in real terms
• this latest annual increase in total GVA was driven by real-term growth recorded by the finance sector, the majority of the non-finance sectors of the economy also recorded real-term growth in 2014
• in real terms, total GVA in 2014 was more than £500 million below the previous peak recorded in 2007

GVA per head of population:

• GVA per head of population in Jersey in 2014 was £38,800 (current year values)
• 2014 saw the first real-term increase in GVA per head for seven years
• the average economic standard of living of residents in Jersey, as measured by GVA per head, has declined by a fifth (20%) in real terms since 2001

Gross Domestic Product (GDP)​​:

• in real terms, GDP in 2014 grew by 4% on an annual basis
• GDP in 2014 was £3.88 billion (current year values)

Download GVA and GDP 2014 report (size 608kb)