Gibraltar Economy 1997

Economy - overview Gibraltar benefits from an extensive shipping trade, offshore banking,and its position as an international conference center. The British militarypresence has been sharply reduced and now contributes about 11% to the localeconomy. The financial sector accounts for 15% of GDP; tourism, shipping servicesfees, and duties on consumer goods also generate revenue. Because more than70% of the economy is in the public sector, changes in government spendinghave a major impact on the level of employment.

GDP purchasing power parity - $205 million (1993 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $6,600 (1993 est.)

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

Inflation rate - consumer price index NA%

Labor force
total: 14,800 (including non-Gibraltar laborers)
by occupation : services 60%, industry 40%, agriculture NEGL

Unemployment rate NA%

Budget
revenues: $111.6 million
expenditures: $115.6 million, including capital expenditures of $NA (1995-96)

Industries tourism, banking and finance, construction, commerce; support to largeUK naval and air bases; tobacco, mineral waters, beer, canned fish

Industrial production growth rate NA%

Electricity - capacity 33,000 kW (1993)

Electricity - production 90 million kWh (1994)

Electricity - consumption per capita NA kWh

Agriculture - products none

Exports
total value: $57 million (f.o.b., 1993)
commodities: (principally reexports) petroleum 51%, manufactured goods 41%, other8%
partners : UK, Morocco, Portugal, Netherlands, Spain, US, FRG

Imports
total value: $708 million (c.i.f., 1993)
commodities: fuels, manufactured goods, and foodstuffs
partners: UK, Spain, Japan, Netherlands

Debt - external $318 million (1987)

Economic aid
recipient: ODA, $NA

Currency 1 Gibraltar pound (�G) = 100 pence

Exchange rates Gibraltar pounds (�G) per US$1 - 0.6023 (January 1997), 0.6403(1996), 0.6335 (1995), 0.6529 (1994), 0.6658 (1993), 0.5664 (1992); 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 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 1997 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 1997 should be addressed to the CIA.