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 (official exchange rate):
$1.066 billion (2005 est.)

GDP - real growth rate:
7% (2005 est.)

GDP - per capita:
$38,200 (2005 est.)
$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% (2001)

Unemployment rate:
3% (2005 est.)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Budget:
revenues: $455.1 million
expenditures: $423.6 million (2005 est.)

Public debt:
15.7% of GDP (2005 est.)

Inflation rate (consumer prices):
2.9% (2005)

Agriculture - products:
none

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

Industrial production growth rate:
NA%

Electricity - production:
142 million kWh (2006 est.)

Electricity - consumption:
142 million kWh (2006 est.)

Electricity - exports:
0 kWh (2007 est.)

Electricity - imports:
0 kWh (2007 est.)

Oil - production:
0 bbl/day (2007 est.)

Oil - consumption:
22,620 bbl/day (2006 est.)

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 - consumption:
0 cu m (2007 est.)

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.)

Exports:
$271 million f.o.b. (2004 est.)

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

Imports:
$2.967 billion c.i.f. (2004 est.)

Imports - commodities:
fuels, manufactured goods, and foodstuffs

Debt - external:
$NA