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Gibraltar Economy 2013
http://www.theodora.com/wfbcurrent/gibraltar/gibraltar_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 5, 2013

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 est.)
country comparison to the world: 201

$1.203 billion (2007 est.)
$1.106 billion (2006 est.)
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.106 billion (2006 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6% (2008)
country comparison to the world: 43

8.8% (2007)
0% (2006 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$43,000 (2006 est.)
country comparison to the world: 18

$41,200 (2007 est.)
$38,400 (2006 est.)
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 0%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 0%
services: 100% (2008 est.)

Labor force:
12,690 (2001) (2001)
country comparison to the world: 215
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: negligible
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 40%
services: 60% (2001)

Unemployment rate:
3% (2005 est.)
country comparison to the world: 26
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $475.8 million
[see also: Budget revenues country ranks ]
expenditures: $452.3 million (2008 est.)

Taxes and other revenues:
43% of GDP (2008 est.)
country comparison to the world: 38
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
2.1% of GDP (2008 est.)
country comparison to the world: 20
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
7.5% of GDP (2008 est.)
country comparison to the world: 144

13.5% of GDP (2006 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2.8% (2008)
country comparison to the world: 65

2.6% (2006)
[see also: Inflation rate (consumer prices) country ranks ]

Agriculture - products:
none

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

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Exports:
$271 million (2004 est.)
country comparison to the world: 181
[see also: Exports country ranks ]

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

Imports:
$2.967 billion (2004 est.)
country comparison to the world: 148
[see also: Imports country ranks ]

Imports - commodities:
fuels, manufactured goods, and foodstuffs

Debt - external:
$NA
[see also: Debt - external country ranks ]

Exchange rates:
Gibraltar pounds (GIP) per US dollar -

0.6324 (2012)
0.624 (2011)
0.6472 (2010)
0.6175 (2009)
0.5302 (2008)

Fiscal year:
1 July - 30 June


NOTE: The information regarding Gibraltar on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 2013 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 2013 should be addressed to the CIA.


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