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ARTICLE · 07 OCTOBER 2015

Annual Economic Indicators Highlight Finance Industry Growth

Jersey Finance Limited
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The latest figures on the performance of the economy in 2014 provide a welcome boost and once again highlight the role of the finance industry as the major contributor to future prosperity...

JerseyFinance and Banking
Jersey Finance
Jersey Finance
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The latest figures on the performance of the economy in 2014 provide a welcome boost and once again highlight the role of the finance industry as the major contributor to future prosperity, according to Geoff Cook, CEO of Jersey Finance.

The survey, 'Measuring Jersey's Economy GVA and GDP 2014', published by the statistics unit of the States of Jersey, recorded that Jersey's economy, as measured by GVA (Gross Value Added) grew by 5% in real terms in 2014, driven by real term growth of the finance sector.

There was a 9% increase in economic activity in the finance industry year on year, the highest percentage rise of any industry sector, as a result of a real term increase in GOS (Gross Operating Surplus) of almost a fifth. The survey also recorded that financial services accounted for 44% of the overall economic activity in the Island, by far the largest component. Geoff Cook added:

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