To ask the Chancellor of the Exchequer, what estimate his Department has made of the net benefits to the economy of trade with the Channel Islands.
21 November 2018
The Channel Islands contribute significantly to UK trade. Specifically, the UK exported services worth £7.2bn, 2.6% of our total service exports, to Guernsey in 2017. As a result, they were the UK’s ninth largest services export market in 2017.
Additionally, in 2017, the UK imported services worth £4.1bn from Jersey, representing 2.5% of all UK service imports. As such, they were the UK’s ninth largest services import market.
More widely, the constitutional relationships between the UK and the Channel Islands are historic and highly valued, and there is a constructive working relationship between the UK Government and those jurisdictions.