| Economy | Gibraltar |
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Economy - overview:
|
Self-sufficient Gibraltar benefits from an extensive shipping trade, offshore banking, and its position as an international conference center. Tax rates are low to attract foreign investment. 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), gaming revenues, shipping services fees, and duties on consumer goods also generate revenue. The financial sector, tourism, and the shipping sector contribute 30%, 30%, and 25%, respectively, of GDP. Telecommunications, e-commerce, and e-gaming account for the remaining 15%. 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):
|
$1.275 billion (2008)
$1.203 billion (2007 est.)
$1.106 billion (2006 est.) |
GDP - per capita (PPP):
|
$43,000 (2006 est.)
$41,200 (2007 est.)
$38,400 (2006 est.) |
GDP (official exchange rate):
|
$1.106 billion (2006 est.) |
GDP - real growth rate:
|
6% (2008)
8.8% (2007)
0% (2006 est.) |
GDP - composition by sector:
|
agriculture: 0%
industry: 0%
services: 100% (2008 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
2.8% (2008)
2.6% (2006) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
void |
Stock of money:
|
void |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
void |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
void |
Stock of domestic credit - per capita:
|
void |
Stock of narrow money:
|
void |
Stock of broad money:
|
void |
Labor force:
|
12,690 (including non-Gibraltar laborers) (2001) |
Labor force participation rate:
|
43.83 % of population |
Labor force - by occupation:
|
agriculture: negligible
industry: 40%
services: 60% (2001) |
Unemployment rate:
|
3% (2005 est.) |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $475.8 million
expenditures: $452.3 million (2008 est.) |
Budget revenues per capita:
|
16,432 USD per capita |
Taxes and other revenues:
|
43% of GDP (2008 est.) |
Budget surplus (+) or deficit (-):
|
2.1% of GDP (2008 est.) |
Public debt:
|
7.5% of GDP (2008 est.)
13.5% of GDP (2006 est.) |
Industries:
|
tourism, banking and finance, ship repairing, tobacco |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
156 million kWh (2008 est.) |
Electricity - production per capita:
|
5,388 kWh per capita |
Electricity - consumption:
|
156 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
5,388 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
25,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
315.13 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
26,400 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
none |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$271 million (2004 est.) |
Exports per capita:
|
9,360 USD per capita |
Exports - commodities:
|
(principally reexports) petroleum 51%, manufactured goods |
Exports - partners:
|
void |
Imports:
|
$2.967 billion (2004 est.) |
Imports per capita:
|
102,466 USD per capita |
Imports - commodities:
|
fuels, manufactured goods, and foodstuffs |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$NA |
Debt - external - per capita:
|
void |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Gibraltar pound (GIP) |
Exchange rates:
|
Gibraltar pounds (GIP) per US dollar -
0.6176 (2011)
0.6468 (2010)
0.6175 (2009)
|
Fiscal year:
|
1 July - 30 June |
|
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