Chamber News Article

Jersey Chamber of Commerce

Latest News

Category: Local Business News  States of Jersey

Measuring Jersey's Economy: GVA and GDP 2020

Oct 01, 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

Read the full report here

More Chamber News

  • Jersey Minimum Wage Consultation & Survey 2022

    Jersey Minimum Wage Consultation & Survey 2022

  • Fiscal Policy Panel Presentation of its Medium-Term Report

    The Fiscal Policy Panel would like to invite you to attend the presentation of its Medium-Term Report...

  • Election Day – Results and Registered Voters

    Islanders will go to the polls between 8am and 8pm tomorrow, Wednesday 22 June, to cast their vote in...