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Gross Value Added and Gross Domestic Product

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This page contains information on Guernsey's economic activity, measured by the Gross Value Added (GVA) of each sector and Gross Domestic Product (GDP) of the Island.

There is more information in the methodology section below on how GDP relates to GVA and Factor income.

  • Expand for more information on methodology

    • GVA (at basic prices), is calculated in Guernsey (using the income approach) as the sum of:
      • Compensation of employees (which includes remuneration in the form of wages paid to employees plus estimates of pension and social security contributions paid on their behalf by their employer)
      • Gross operating surplus (which equates to company trading profits and public sector trading body surpluses)
      • Mixed income (the remuneration and profits of sole traders)
      • Income of households (rental income and owner occupied imputed rents, net of maintenance costs and borrowing costs)
      • Taxes on production (e.g. fees charged by the Guernsey Financial Services Commission, the Guernsey Competition & Regulatory Authority and the Guernsey Office of the Data Protection Authority, plus Tax on Real (commercial) Property collected by Cadastre)
      • Less subsidies on production (the only subsidies on production have been the payroll co-funding and the business support schemes, provided during the COVID-19 pandemic in 2020 and 2021)
    • To calculate GVA at market prices, taxes on products (e.g. import duties, air passenger duties, harbour dues, document duties and vehicle first registration duties) are added and subsidies on products (Dairy Farm Management payments, health benefit payments, and any airlink subsidies) are deducted from the basic GVA figures.
    • GDP is the sum (across all sectors) of GVA at market prices.
    • For more detail on the current methodology, recent methodological changes and further planned improvements, please see the pdf icon Guide to Guernsey GVA and GDP [305kb]

See the pdf icon provisional release date list [161kb] to find out when the next bulletin is due to be published.

If you would like to receive an email and/or text notification when the next version of this bulletin becomes available (or you wish to stop receiving those notifications), please log in or register here. To find out how Data and Analysis process your personal data if you sign up for notifications or in the production of national statistics you can pdf icon read our Fair Processing Notice [260kb].

Follow this link to access the archive of GDP and GVA bulletins

 

Downloads

Guernsey Annual GVA and GDP Bulletin 2022 Supplementary GVA and GDP Data 2022 Guide to Guernsey Gross Value Added and Gross Domestic Product

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