Gibraltar
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Introduction - Gibraltar: | Location - Gibraltar: | People - Gibraltar: | Government - Gibraltar: | Economy - Gibraltar: | Economy overview | Self-sufficient Gibraltar benefits from an extensive shipping trade, offshore banking, and its position as an international conference center. The British military presence has been sharply reduced and now contributes about 7% to the local economy, compared with 60% in 1984. The financial sector, tourism (almost 5 million visitors in 1998), shipping services fees, and duties on consumer goods also generate revenue. The financial sector, the shipping sector, and tourism each contribute 25%-30% of GDP. Telecommunications accounts for another 10%. In recent years, Gibraltar has seen major structural change from a public to a private sector economy, but changes in government spending still have a major impact on the level of employment. | | Gdp purchasing power parity | $769 million (2000 est.) | | Gdp official exchange rate | NA | | Gdp real growth rate | NA% | | Gdp per capita ppp | $27,900 (2000 est.) | | Gdp composition by sector | agriculture: NA%
industry: NA%
services: NA% | | Labor force | 12,690 (including non-Gibraltar laborers) (2001) | | Labor force by occupation | agriculture: negligible
industry: 40%
services: 60% | | Unemployment rate | 2% (2001 est.) | | Population below poverty line | NA% | | Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% | | Inflation rate consumer prices | 1.5% (1998) | | Budget | revenues: $307 million
expenditures: $284 million; including capital expenditures of $NA (FY00/01 est.) | | Agriculture products | none | | Industries | tourism, banking and finance, ship repairing, tobacco | | Industrial production growth rate | NA% | | Electricity production | 131.2 million kWh (2004) | | Electricity consumption | 122 million kWh (2004) | | Electricity exports | 0 kWh (2004) | | Electricity imports | 0 kWh (2004) | | Oil production | 0 bbl/day (2004 est.) | | Oil consumption | 24,000 bbl/day (2004 est.) | | Oil exports | NA bbl/day | | Oil imports | NA bbl/day | | Oil proved reserves | 0 bbl | | Natural gas production | 0 cu m (2004 est.) | | Natural gas consumption | 0 cu m (2004 est.) | | Exports | $271 million f.o.b. (2004 est.) | | Exports commodities | (principally reexports) petroleum 51%, manufactured goods 41%, other 8% | | Exports partners | UK 30.8%, Spain 22.7%, Germany 13.7%, Turkmenistan 10.4%, Switzerland 8.3%, Italy 6.7% (2006) | | Imports | $2.967 billion c.i.f. (2004 est.) | | Imports commodities | fuels, manufactured goods, and foodstuffs | | Imports partners | Spain 23.4%, Russia 12.3%, Italy 12%, UK 9%, France 8.9%, Netherlands 6.8%, US 4.7% (2006) | | Debt external | $NA | | Economic aid recipient | $NA | | Currency code | Gibraltar pound (GIP) | | Exchange rates | Gibraltar pounds per US dollar - 0.5434 (2006), 0.5504 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002)
note: the Gibraltar pound is at par with the British pound | |
Communications - Gibraltar: | Transportation - Gibraltar: | Military - Gibraltar: |
This page was last updated on 16 September, 2007 Source: CIA >>> |