The Island's Gross Domestic product has risen by 7.4 per cent during the 2016/17 financial year.
The figure was published in the National Income Report - which also stated 16 of the 24 sectors covered in it showed areas of growth.
Meanwhile, it adds total personal income has increased by 4.4 per cent.
Minister for Enterprise, Laurence Skelly, says the rise in corporate profits and income for the population is 'really encouraging'.
Financial regulator proposes higher fees
Chance to air your views on mortgage brokers
£20k for 24 days work a year as Steam Packet director
Popular Douglas cafe up for sale
Company reveals hopes for Swiss Chalet
Premium estate agent launches new license on Island
Signs approved for estate agent's new office
Number of aircraft registered here declining since 2022