Chief Minister Allan Bell MHK has welcomed national income figures showing that the Manx economy grew by 3.4% in real terms in 2010/11, making it the 28th successive year of economic growth for the Island.
The national income accounts for the year published by the Treasury’s Economic Affairs Division show the Island’s Gross Domestic Product (GDP) reaching £3.5 billion, with particularly good results in the ICT sector and insurance.
The Chief Minister commented: ‘These figures confirm that the Island’s economy regained strength in 2010/11 to achieve an impressive level of growth. Economic indicators suggest that expansion has continued since this period, albeit at a lower rate.
‘The maintenance of positive growth in the economic climate of recent years has been a remarkable achievement for the Island, and a testament to the dynamism and diversity of our various sectors. We cannot take continued growth for granted, however, and we will have to work harder than ever to secure the future prosperity of our community.’
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