Economy - overview:
Offshore banking, manufacturing, and tourism are key sectors of the economy. The government offers low taxes and other incentives to high-technology companies and financial institutions to locate on the island; this 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 contributions to GDP. The Isle of Man also attracts online gambling sites and the film industry. Trade is mostly with the UK. In January 2013, the Isle of Man signed a tax agreement with Guernsey and Jersey, in order to enable the islands' authorities to end tax avoidance and evasion. The Isle of Man enjoys free access to EU markets.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition, by sector of origin:
Agriculture - products: Industries: Labor force: Labor force - by occupation:
Unemployment rate: Population below poverty line: Household income or consumption by percentage share:
Budget:
Taxes and other revenues: Budget surplus (+) or deficit (-): Fiscal year: Inflation rate (consumer prices): Market value of publicly traded shares: Exports: Exports - commodities: Imports: Imports - commodities: Debt - external: Exchange rates:
$4.076 billion (2007 est.)
country comparison to the world: 176
$2.719 billion (2005 est.)
[see also: GDP country ranks ]
$4.076 billion (2007 est.)
[see also: GDP (official exchange rate) country ranks ]
5.2% (2005)
country comparison to the world: 52
[see also: GDP - real growth rate country ranks ]
$53,800 (2007 est.)
country comparison to the world: 13
$35,000 (2005 est.)
[see also: GDP - per capita country ranks ]
agriculture:
1%
industry:
11%
services:
88% (FY08/09 est.)
cereals, vegetables; cattle, sheep, pigs, poultry
financial services, light manufacturing, tourism
41,790 (2006)
country comparison to the world: 195
[see also: Labor force country ranks ]
agriculture, forestry, and fishing:
2%
manufacturing:
5%
construction:
8%
gas, electricity, and water:
1%
transport and communication:
9%
wholesale and retail distribution:
11%
professional and scientific services:
20%
public administration:
7%
banking and finance:
23%
tourism:
1%
entertainment and catering:
5%
miscellaneous services:
8% (2006)
2% (April 2011 est.)
country comparison to the world: 16
1.8% (October 2010 est.)
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%:
NA%
highest 10%:
NA%
revenues:
$965 million
expenditures:
$943 million (FY05/06 est.)
23.7% of GDP (FY05/06 est.)
country comparison to the world: 138
[see also: Taxes and other revenues country ranks ]
0.5% of GDP (FY05/06 est.)
country comparison to the world: 33
[see also: Budget surplus (+) or deficit (-) country ranks ]
1 April - 31 March
5% (2010 est.)
country comparison to the world: 155
3.1% (2006)
[see also: Inflation rate (consumer prices) country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
$NA
[see also: Exports country ranks ]
tweeds, herring, processed shellfish, beef, lamb
$NA
[see also: Imports country ranks ]
timber, fertilizers, fish
$NA
[see also: Debt - external country ranks ]
Manx pounds (IMP) per US dollar -
0.6472 (2014)
0.6391 (2013)
0.6472 (2010)
0.6175 (2009)
0.5302 (2008)