| People | Isle of Man |
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Economy - overview:
|
Offshore banking, manufacturing, and tourism are key sectors of the economy. The government offers incentives to high-technology companies and financial institutions to locate on the island; this has paid off in expanding employment opportunities in high-income industries. As a result, agriculture and fishing, once the mainstays of the economy, have declined in their shares of GDP. The Isle of Man also attracts online gambling sites and the film industry. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets. |
GDP (purchasing power parity):
|
$2.719 billion (2005 est.) |
GDP (official exchange rate):
|
$2.719 billion (2005 est.) |
GDP - real growth rate:
|
5.2% (2005) |
GDP - per capita (PPP):
|
$35,000 (2005 est.) |
GDP - composition by sector:
|
agriculture: 1%
industry: 13%
services: 86% (2000 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):
|
3.1% (December 2006 est.) |
Labor force:
|
39,690 (2001) |
Labor force participation rate:
|
52.07 % of population |
Labor force - by occupation:
|
agriculture, forestry, and fishing 3%, manufacturing 11%, construction 10%, transport and communication 8%, wholesale and retail distribution 11%, professional and scientific services 18%, public administration 6%, banking and finance 18%, tourism 2%, entertainment and catering 3%, miscellaneous services 10% (2001) |
Unemployment rate:
|
1.5% (December 2006 est.) |
Budget:
|
revenues: $965 million
expenditures: $943 million (FY05/06 est.) |
Budget revenues per capita:
|
12,661 USD per capita |
Public debt:
|
void |
Industries:
|
financial services, light manufacturing, tourism |
Industrial production growth rate:
|
3.2% (FY96/97) |
Electricity - production:
|
void |
Electricity - production per capita:
|
void |
Electricity - consumption:
|
void |
Electricity - consumption - per capita:
|
void |
Electricity - exports:
|
void |
Electricity - imports:
|
void |
Oil - production:
|
void |
Oil - production per capita:
|
void |
Oil - consumption:
|
void |
Oil - consumption - per capita:
|
void |
Oil - exports:
|
void |
Oil - imports:
|
void |
Oil - proved reserves:
|
void |
Natural gas - production:
|
void |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
void |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
void |
Natural gas - imports:
|
void |
Natural gas - proved reserves:
|
void |
Agriculture - products:
|
cereals, vegetables; cattle, sheep, pigs, poultry |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$NA |
Exports per capita:
|
void |
Exports - commodities:
|
tweeds, herring, processed shellfish, beef, lamb |
Exports - partners:
|
UK (2006) |
Imports:
|
$NA |
Imports per capita:
|
void |
Imports - commodities:
|
timber, fertilizers, fish |
Imports - partners:
|
UK (2006) |
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 - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$NA |
Economic aid - recipient per capita:
|
void |
Currency (code):
|
Isle of Man pound (IMP), also known as the Manx pound
note: the British pound is also legal tender, but change is given in IMP |
Exchange rates:
|
Manx pounds per US dollar - 0.4993 (2007), 0.5418 (2006), 0.5493 (2005), 0.5462 (2004), 0.6125 (2003)
note: the Manx pound is at par with the British pound |
Fiscal year:
|
1 April - 31 March |
|
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