Source: world bank Nominal/PPP
Summary:
Channel Islands GDP Per Capita expanded from 1998 to 2023, increasing from $5.95 to $12.51 .The compound annual growth rate (CAGR) averaged 3.02% over the period. The economy recorded its peak level in 2023 and its lowest level in 1998. Growth volatility remained high. The maximum drawdown reached 22.68%, indicating the largest cyclical decline from peak levels. The country experienced 5 recession episode(s) during the observed period.
Channel Islands Economic Phases (1998 - 2023)
From 1998 to 2023, Channel Islands economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (2002–2004) indicating robust economic expansion
- High Growth (2006–2008) indicating robust economic expansion
- Contraction (2015–2016) indicating temporary slowdown
- High Growth (2023–2023) indicating robust economic expansion
The most remarkable growth occurred in 2007 with an increase of 19%, while the largest decline was in 2009 at -20.963%.