Guernsey economy returned to pre-pandemic size in 2021
- Published
The Guernsey economy grew to £3.46bn in 2021
The Guernsey economy is estimated to have grown in 2021 after contracting during the Covid-19 pandemic.
The latest estimates, external show total Gross Domestic Product (GDP) last year was £3.46bn - a 6% increase in real terms on 2020.
According to States of Guernsey analysis, the island's GDP contracted by 5% in 2020.
It means the economy in 2021 was 1% bigger in real terms than in 2019, before the pandemic was declared.
The analysis found the finance sector was the economy's largest, contributing to 36% of the total GDP.
Transport and storage experienced the largest increase in gross value added to the economy, growing by 84% in real terms in 2021 after a 64% contraction in 2020.
Guernsey's GDP per capita was estimated to be £54,329 in 2021 - a 5% increase on 2020.
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- Published19 November 2021
