Jersey economy shrinks as profits fall

Jersey businesses and workers made less money in the island last year compared to the year before, a report has found.

Statistics Jersey's economy report for 2025 has looked at how much the island makes from various different industries.

It found in 2025 the economy fell overall by 1.7% with the Gross Domestic Product estimated at £7bn, compared to £6.9bn in 2024, "driven primarily by lower profits in the financial and insurance sector - particularly within banking".

Excluding the finance sector, the rest of Jersey's economy recorded "modest real-term growth" of 0.2%, it said.

The report said despite the decline, Jersey's economy remained 11.9% above its pre-pandemic level and had grown by an average of 1.6% per year over the last decade.

It also found the average person contributed less than in 2024, in a measure that looks at how much business is done compared to the number of workers required to do it.

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