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Gibraltar Economy 2010
https://workmall.com/wfb2010/gibraltar/gibraltar_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Gibraltar Economy 2010
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 15, 2010

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 est.)

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

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

GDP - per capita (PPP):
$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.)

Population below poverty line:
NA%

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 est.)

Agriculture - products:
none

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

Industrial production growth rate:
NA%

Electricity - production:
146 million kWh (2007 est.)

Electricity - consumption:
146 million kWh (2007 est.)

Electricity - exports:
0 kWh (2008 est.)

Electricity - imports:
0 kWh (2008 est.)

Oil - production:
0 bbl/day (2008 est.)

Oil - consumption:
24,000 bbl/day (2008 est.)

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

Oil - imports:
25,610 bbl/day (2007 est.)

Oil - proved reserves:
0 bbl (1 January 2009 est.)

Natural gas - production:
0 cu m (2008 est.)

Natural gas - consumption:
0 cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
0 cu m (1 January 2009 est.)

Exports:
$271 million (2004 est.)

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

Imports:
$2.967 billion (2004 est.)

Imports - commodities:
fuels, manufactured goods, and foodstuffs

Debt - external:
$NA

Exchange rates:
Gibraltar pounds (GIP) per US dollar - 0.4993 (2007), 0.5434 (2006), 0.5504 (2005), 0.5462 (2004), 0.6125 (2003)
note: the Gibraltar pound is at par with the British pound


NOTE: The information regarding Gibraltar on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 2010 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 2010 should be addressed to the CIA.






This page was last modified 09-Feb-10
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