Government report shows economic growth

Wed, 28 Sep 2016

A Government report shows the Island's economy continued to grow in the 2014-15 financial year.

The statistics - issued by the Cabinet Office - show a 4.5% growth in the Island's Gross Domestic Product, and a 5% rise in total income across all sectors.

It's the 32nd straight year that the Manx economy has grown.

E-Gaming - which accounts for almost a fifth of the Island's income - was largely responsible for the rise, with the Island's largest sector seeing a 22% increase last year - making up an additional £150,000 income.

Tourist accomodation also enjoyed a significant rise, bringing in 80% more compared with the previous 12 months.

Not all sectors fared as well though, with the mining and quarrying industry falling by 55%, while agriculture and transport were also hit.