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Gibraltar Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Gibraltar Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 29, 2014

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: 46

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

Agriculture - products:
none

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

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

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: 24
[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: 31
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
2.1% of GDP (2008 est.)
country comparison to the world: 22
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
7.5% of GDP (2008 est.)
country comparison to the world: 147

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

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
2.8% (2008)
country comparison to the world: 81

2.6% (2006)
[see also: Inflation rate (consumer prices) 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: 146
[see also: Imports country ranks ]

Imports - commodities:
fuels, manufactured goods, foodstuffs

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

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

0.6307 (2012)
0.6236 (2011)
0.6472 (2010)
0.6175 (2009)
0.5302 (2008)


NOTE: 1) The information regarding Gibraltar on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 2014 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 2014 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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