GDP up by 7.4%

Encouraging figures from latest Income Report

The Island's Gross Domestic Product increased by 7.4% during the 2016/17 financial year.

The figure's contained in the latest National Income Report published today (Mon 17/09).

Out of the 24 sectors covered in the report, 16 showed areas of growth, with the information and technology sector being a significant driver.

E-gaming, finance and business services also showed good growth with personal incomes up 4.4% in real terms.

Minister for Policy and Reform, Chris Thomas, says the figures show confidence from businesses - which in turn makes it good for public services - though he accepts there areas to work on such as manufacturing - which has seen a 10% drop.

The report can be found at:

https://www.gov.im/categories/tax-vat-and-your-money/national-income/#menu