Finance and Legal Sector GVA 2017 Report Published

Friday 6 July 15:29

Statistics Jersey has released the finance and legal sector GVA and productivity report for 2017. The survey covers banks, fund managers, investment trusts, accountancy and legal firms.

The latest report shows that in 2017:

 

Gross Value Added (GVA) 

  • Jersey’s Finance sector, as measured by total GVA, declined by 2% in real terms in 2017
  • this latest annual decrease in total GVA was driven by a real-term decline of 5% recorded by the Banking sub-sector
  • in contrast the other finance sub-sectors combined recorded a real-term increase in GVA of 1%
  • in real terms, total GVA in 2017 was £700 million below the previous peak recorded in 2007
  • total GVA in 2017 was £1.740 billion in current year values

Productivity

  • productivity, as measured by total GVA per Full-Time Equivalent (FTE) employee, decreased by 3% in real terms in 2017
  • all sub-sectors except for Accountancy saw a decrease in productivity in 2017

Other measures

  • total expenditure on goods and services was £750 million in current year values, a nominal decrease of 9% compared with 2016, with over two-fifths of expenditure spent in Jersey
  • total expenditure on employment was £870 million in current year values, a nominal increase of 12% compared to 2016
  • mean employment costs per FTE employee were £70,000 in current year values, a nominal increase of 9% compared with 2016
  • the mean bonus payment per FTE employee was £6,500 in current year values, a nominal increase of 12% compared with 2016
  • the number of local staff recruited directly from school and university was 250 FTEs, a decrease of 70 compared with 2016

Finance and legal sector GVA and productivity report

Events

  • Subsidised Skills Training for Employees Business Licensing | Social Security Department | States of Jersey

    › read more
  • Building a Foundation: Working with the Voluntary and Community Sector Where: St. Pauls Centre When: Wednesday 26th September Time: 1pm to 4pm Cost: FREE

    › read more
  • Ibex Education - Excel Introduction

    › read more
  • Ibex Education - Excel at Intermediate Level

    › read more
  • Ibex Education - Excel at Advanced Level

    › read more
  • Marbral Advisory - Blockchain for lawyers Early Bird: €75.00 - Standard: €115.00

    › read more
  • Marbral Advisory - Blockchain Basics Early Bird: €75.00 - Standard: €115.00

    › read more
  • A Very Special Evening of Celebration! - Jersey Chamber of Commerce 250th Gala Event You are Invited to a Very Special Evening of Celebration!

    › read more
  • GTA Guernsey - IoD Accelerated Company Direction Programme Course Cost: £5,750.00 | Course Length: 5 days (generally 08:30-19:00)12-16 November 2018 |

    › read more
  • Jersey Business - Enterprise Week 2018 FREE EVENT

    › read more

Chamber Knowledgebase

Our frequently asked questions

Contact Magazine

Click here to view the latest digital issue of the Channel Islands Business Magazine.

Jersey Airport / Harbours

The latest arrivals and departures, select a link above

Charity of Choice 2018

Click here to learn more about the vital work of the Jersey Employment Trust and how you can help.

The Benefits of Membership

Networking opportunities, including our popular luncheons
Topical seminar programme
Support and guidance on doing business in Jersey


And become one of over 500 member businesses supporting Chamber in its aim of ensuring that local business is at the heart of a thriving and diverse local economy.

Call 01534 724536
› About Chamber


Copyright © Jersey Chamber 2012 - The Jersey Chamber of Commerce welcomes your comments and views. However, the posting of comments is subject to our terms which can be read here. Comments posted by users of this site are not the Chamber's comments nor do they represent the views of the Jersey Chamber of Commerce.

↑ Back to top