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Manx Economy shows continuous growth

28th September, 2009

The economy of the Isle of Man grew for the 25th consecutive year, last year.

Goverment Treasury's Economic Affairs Division Figures show there was real growth in nearly every area in 2007/08.

The gross domestic product - that is the value of goods and services produced in the Manx economy over the year, rose to over £2 billion, which was up 11.7% on the previous 12 months

With price inflation stripped out, real growth in 2007/08 stood at 7.5 per cent, which was marginally lower than the previous year and similar to the last ten years average.

The result is that the Island's national income per capita is 22 per cent higher than in the UK and 29 per cent higher than in the 15 countries that, up to 2004, made up the European Union.

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