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Finance 41% of Guernsey's GVA last year

Finance 41% of Guernsey's GVA last year

Monday 19 August 2019

Finance 41% of Guernsey's GVA last year


Professional, business, scientific and technical activities was the second largest contributor to Guernsey's 'gross value added' in 2018, according to the GDP estimates for the year.

The Finance industry was the largest sector by far, with 41% of the island's GVA.

This has been the case for some time now.

Guernsey’s GVA at basic prices (which equates to GDP before the inclusion of taxes and removal of subsidies on products) is estimated at £3,201 million for 2018.

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Non-finance industry sectors collectively contributed 51% of the total GVA (£1,620million) or 55% of Factor Income in 2018. Of this, £187 million (6% of total GVA and 6% of Factor Income) was Legal, Accounting, Auditing, Office Administrative and other primarily finance industry support activities.

Households contributed 8% of the island’s total GVA in 2018.

Finance Sector GVA increased by 1.3% between 2017 and 2018 in real terms. Several non-finance sectors recorded growth, most notably Administration and support service activities and Professional, business, scientific and technical services. Conversely the Manufacturing sector saw GVA decline between 2017 and 2018. Households saw a slight increase, matching trends in residential property rental and purchase prices at this time.

Over the past five years, 2013 to 2018, overall change in GVA was highest in the professional, business, scientific and technical activities sector at 66% and lowest in construction at -23%.

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