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    Gibraltar Index 2006

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    Gibraltar Economy - 2006
    https://theodora.com/wfbcurrent/gibraltar/gibraltar_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      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):
      $769 million (2000 est.)

      GDP (official exchange rate):
      NA

      GDP - real growth rate:
      NA%

      GDP - per capita (PPP):
      $27,900 (2000 est.)

      GDP - composition by sector:
      agriculture: NA%
      industry: NA%
      services: NA%

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

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

      Unemployment rate:
      2% (2001 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)

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

      Agriculture - products:
      none

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

      Industrial production growth rate:
      NA%

      Electricity - production:
      106.1 million kWh (2003)

      Electricity - consumption:
      98.69 million kWh (2003)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      0 kWh (2003)

      Oil - production:
      0 bbl/day (2003 est.)

      Oil - consumption:
      23,500 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      0 cu m (2003 est.)

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

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

      Exports - partners:
      France 19.4%, Spain 14.1%, Turkmenistan 12.1%, Switzerland 11.7%, Germany 10.1%, UK 9.1%, Greece 6.8% (2004)

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

      Imports - commodities:
      fuels, manufactured goods, and foodstuffs

      Imports - partners:
      Spain 20.2%, Russia 18.5%, UK 10.8%, Italy 8.2%, Germany 7.5%, US 5.1%, Sweden 4.7%, France 4.2% (2004)

      Debt - external:
      $NA (2000 est.)

      Economic aid - recipient:
      $NA

      Currency (code):
      Gibraltar pound (GIP)

      Exchange rates:
      Gibraltar pounds per US dollar - 0.55 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002), 0.6947 (2001)
      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 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 2006 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/gibraltar/gibraltar_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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