unbekannter Gast

Gibraltar: Economy#

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 (over 11 million visitors in 2012), 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.

Economic Facts#

GDP (purchasing power parity)$1.275 billion (2008 est.)
$1.203 billion (2007 est.)
$1.106 billion (2006 est.)
GDP - real growth rate6% (2008 est.)
8.8% (2007 est.)
0% (2006 est.)
GDP - per capita (PPP)$43,000 (2008 est.)
$41,200 (2007 est.)
$38,400 (2006 est.)
GDP - composition, by sector of originagriculture: 0%
industry: 0%
services: 100% (2008 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: negligible
industry: 40%
services: 60% (2001)
Exports - commodities(principally reexports) petroleum 51%, manufactured goods
Agriculture - productsnone
Budgetrevenues: $475.8 million
expenditures: $452.3 million (2008 est.)
Imports - commoditiesfuels, manufactured goods, foodstuffs
Exchange ratesGibraltar pounds (GIP) per US dollar -
0.6307 (2014)
0.6391 (2013)
0.6472 (2010)
0.6175 (2009)
0.5302 (2008)
Exports$271 million (2004 est.)
Debt - external$NA
Fiscal year1 July - 30 June
Imports$2.967 billion (2004 est.)
Industrial production growth rateNA%
Industriestourism, banking and finance, ship repairing, tobacco
Inflation rate (consumer prices)2.8% (2008)
2.6% (2006)
Labor force12,690 (2001) (2001)
Unemployment rate3% (2005 est.)
Public debt7.5% of GDP (2008 est.)
13.5% of GDP (2006 est.)
GDP (official exchange rate)$1.106 billion (2006 est.)
Taxes and other revenues43% of GDP (2008 est.)
Budget surplus (+) or deficit (-)2.1% of GDP (2008 est.)