Trade: Channel Islands

Treasury written question – answered on 21st November 2018.

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Photo of Andrew Rosindell Andrew Rosindell Conservative, Romford

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.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

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.

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