Isle of Man: GDP (annual % growth)

Key figures

What the numbers say

In 2023, Isle of Man's GDP (annual % growth) rose 2.13 percentage points on 2022 (from -4.17% to -2.04%).

Across the 30 yearly changes before that (1993 to 2022), the average change was −0.17 percentage points and a typical year strayed about 4.5 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 18.69 percentage points in 1986 and the biggest yearly fall was 9.21 percentage points in 1987. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2023 the straight-line trend is downward, about 0.87 percentage points a year. A straight line explains 31% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

See how every economy compares in the full ranking.

Closest to Isle of Man in the 2023 ranking

• Channel Islands — 1st of 4: 3.72%
• Greenland — 2nd of 4: 0.87%
• San Marino — 3rd of 4: 0.4%

What this measures

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Limitations: Each industry's contribution to growth in the economy's output is measured by growth in the industry's value added. In principle, value added in constant prices can be estimated by measuring the quantity of goods and services produced in a period, valuing them at an agreed set of base year prices, and subtracting the cost of intermediate inputs, also in constant prices. This double-deflation method requires detailed information on the structure of prices of inputs and outputs. In many industries, however, value added is extrapolated from the base year using single volume indexes of outputs or, less commonly, inputs.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 39 values

GDP (annual % growth) in nearby economies

• Albania — 3.79% (2025)
• Andorra — 3.87% (2025)
• Armenia — 7.2% (2025)
• Austria — 0.62% (2025)
• Azerbaijan — 1.45% (2025)
• Belarus — 1.3% (2025)
• Belgium — 0.98% (2025)
• Bosnia and Herzegovina — 2.13% (2025)
• Bulgaria — 3.1% (2025)
• Channel Islands — 3.72% (2023)
• Croatia — 3.4% (2025)
• Cyprus — 3.77% (2025)

More economic policy & debt data for Isle of Man

• GNI (current US$) — US$7.3 billion (2023)
• GNI (current LCU) — 5.87 billion (2023)
• GNI per capita (current LCU) — 69,738 (2023)
• Adjusted savings, mineral depletion (current US$) — US$0 (2021)
• GDP (current US$) — US$7.58 billion (2023)
• GDP (current LCU) — 6.1 billion (2023)
• GDP (constant 2015 US$) — US$7.1 billion (2023)
• GDP (constant LCU) — 4.64 billion (2023)
• GDP per capita (current US$) — US$90,015 (2023)
• GDP per capita (current LCU) — 72,421 (2023)
• GDP per capita (constant 2015 US$)

Reading data like this

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Questions people ask

What is Isle of Man's GDP (annual % growth)?

-2.04% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1985?

It is down 2.45 percentage points from 0.42% in 1985. The highest value was 19.11% in 1986 and the lowest -8.84% in 2020.

Is the latest change in GDP (annual % growth) unusual for Isle of Man?

In 2023, Isle of Man's GDP (annual % growth) rose 2.13 percentage points on 2022 (from -4.17% to -2.04%). Across the 30 yearly changes before that (1993 to 2022), the average change was −0.17 percentage points and a typical year strayed about 4.5 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB).

Source

World Bank, World Development Indicators, indicator NY.GDP.MKTP.KD.ZG, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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