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 >>>


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