| 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. 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):
|
$1.066 billion (2005 est.)
$769 million (2000) |
GDP - per capita (PPP):
|
$38,200 (2005 est.)
$27,900 (2000 est.) |
GDP (official exchange rate):
|
$1.066 billion (2005 est.) |
GDP - real growth rate:
|
7% (2005 est.) |
GDP - composition by sector:
|
agriculture: NA%
industry: NA%
services: NA% |
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):
|
2.9% (2005) |
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 |
Labor force:
|
12,690 (including non-Gibraltar laborers) (2001) |
Labor force participation rate:
|
45.27 % of population |
Labor force - by occupation:
|
agriculture: negligible
industry: 40%
services: 60% (2001) |
Unemployment rate:
|
3% (2005 est.) |
Budget:
|
revenues: $455.1 million
expenditures: $423.6 million (2005 est.) |
Budget revenues per capita:
|
16,234 USD per capita |
Public debt:
|
15.7% of GDP (2005 est.) |
Industries:
|
tourism, banking and finance, ship repairing, tobacco |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
142 million kWh (2006 est.) |
Electricity - production per capita:
|
5,066 kWh per capita |
Electricity - consumption:
|
142 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
5,066 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
22,620 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
294.51 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2005) |
Oil - imports:
|
25,080 bbl/day (2005) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
none |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$271 million f.o.b. (2004 est.) |
Exports per capita:
|
9,667 USD per capita |
Exports - commodities:
|
(principally reexports) petroleum 51%, manufactured goods 41%, other 8% |
Exports - partners:
|
void |
Imports:
|
$2.967 billion c.i.f. (2004 est.) |
Imports per capita:
|
105,836 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 |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$NA |
Economic aid - recipient per capita:
|
void |
Currency (code):
|
Gibraltar pound (GIP) |
Exchange rates:
|
Gibraltar pounds (GIP) per US dollar - 0.4993 (2007), 0.5434 (2006), 0.5504 (2005), 0.5462 (2004), 0.6125 (2003)
note: the Gibraltar pound is at par with the British pound |
Fiscal year:
|
1 July - 30 June |
|
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