Economy - overview: Offshore banking, manufacturing, and tourism are key sectors of the economy. The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island 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. Banking and other services now contribute 42% to GDP. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets.

GDP: purchasing power parity - $1.4 billion (1999 est.)

GDP - real growth rate: 13.5% (1999 est.)

GDP - per capita: purchasing power parity - $18,800 (1999 est.)

GDP - composition by sector:
agriculture: 1%
industry: 9%
services: 90% (1999 est.)

Population below poverty line: NA%

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

Inflation rate (consumer prices): 2.5% (2000 est.)

Labor force: 36,610 (1998)

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%

Unemployment rate: 0.6% (August 2000)

Budget:
revenues: $485 million
expenditures: $463 million, including capital expenditures of $NA (FY00/01 est.)

Industries: financial services, light manufacturing, tourism

Industrial production growth rate: 3.2% (FY96/97)

Agriculture - products: cereals, vegetables; cattle, sheep, pigs, poultry

Exports: $NA

Exports - commodities: tweeds, herring, processed shellfish, beef, lamb

Exports - partners: UK

Imports: $NA

Imports - commodities: timber, fertilizers, fish

Imports - partners: UK

Debt - external: $NA

Economic aid - recipient: $NA

Currency: British pound (GBP); note - there is also a Manx pound

Currency code: GBP

Exchange rates: Manx pounds per US dollar - 0.6764 (January 2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997), 0.6403 (1996); the Manx pound is at par with the British pound

Fiscal year: 1 April - 31 March

NOTE: The information regarding Man, Isle of on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Man, Isle of Economy 2001 information contained here. All suggestions for corrections of any errors about Man, Isle of Economy 2001 should be addressed to the CIA.