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    Gibraltar Economy - 2004
    https://immigration-usa.com/wfb2004/gibraltar/gibraltar_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      Economy - overview:
      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 - $500 million (1997 est.)

      GDP - real growth rate:
      NA%

      GDP - per capita:
      purchasing power parity - $17,500 (1997 est.)

      GDP - composition by sector:
      agriculture: NA%
      industry: NA%
      services: NA% (2002 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)

      Labor force:
      14,800 (including non-Gibraltar laborers) (1999)

      Labor force - by occupation:
      services 60%, industry 40%, agriculture NEGL%

      Unemployment rate:
      2% (2001 est.)

      Budget:
      revenues: $307 million
      expenditures: $284 million, including capital expenditures of $NA (FY00/01 est.)

      Industries:
      tourism, banking and finance, ship repairing, tobacco

      Industrial production growth rate:
      NA%

      Electricity - production:
      100 million kWh (2001)

      Electricity - production by source:
      fossil fuel: 100%
      hydro: 0%
      other: 0% (2001)
      nuclear: 0%

      Electricity - consumption:
      93 million kWh (2001)

      Electricity - exports:
      0 kWh (2001)

      Electricity - imports:
      0 kWh (2001)

      Oil - production:
      0 bbl/day (2001 est.)

      Oil - consumption:
      42,000 bbl/day (2001 est.)

      Oil - exports:
      NA

      Oil - imports:
      NA

      Agriculture - products:
      none

      Exports:
      $136 million f.o.b. (2002)

      Exports - commodities:
      (principally reexports) petroleum 51%, manufactured goods 41%, other 8%

      Exports - partners:
      Switzerland 28.7%, UK 22.8%, Germany 9.6%, France 5.9%, Hong Kong 5.1%, Spain 5.1%, Turkmenistan 4.4% (2002)

      Imports:
      $1.743 billion c.i.f. (2002)

      Imports - commodities:
      fuels, manufactured goods, and foodstuffs

      Imports - partners:
      Germany 27.5%, Spain 21.9%, UK 12.2%, Italy 8% (2002)

      Debt - external:
      $NA (2000 est.)

      Economic aid - recipient:
      $NA

      Currency:
      Gibraltar pound (GIP)

      Currency code:
      GIP

      Exchange rates:
      Gibraltar pounds per US dollar - 0.6661 (2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998); note - the Gibraltar pound is at par with the British pound

      Fiscal year:
      1 July - 30 June


      NOTE: The information regarding Gibraltar on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 2004 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/gibraltar/gibraltar_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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