| 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. |
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| GDP - real growth rate | NA% |
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| GDP - composition by sector | agriculture: NA%
industry: NA%
services: NA% |
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| Population below poverty line | NA% |
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Household income or consumption
by percentage share | lowest 10%: NA%
highest 10%: NA% |
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| Labor force | 12,690 (including non-Gibraltar laborers) (2001) |
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| Labor force - by occupation | agriculture: negligible
industry: 40%
services: 60% |
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| Unemployment rate | 2% (2001 est.) |
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| Budget | revenues: $307 million
expenditures: $284 million; including capital expenditures of $NA (FY00/01 est.) |
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| Industries | tourism, banking and finance, ship repairing, tobacco |
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| Industrial production growth rate | NA% |
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Electricity -
production | 131.2 million kWh (2004) |
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Electricity -
production by source | fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001) |
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Electricity -
consumption | 122 million kWh (2004) |
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Electricity -
exports | 0 kWh (2004) |
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Electricity -
imports | 0 kWh (2004) |
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| Oil - production | 0 bbl/day (2004 est.) |
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| Oil - consumption | 24,000 bbl/day (2004 est.) |
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| Oil - exports | NA bbl/day |
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| Oil - imports | NA bbl/day |
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| Agriculture - products | none |
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| Exports | $271 million f.o.b. (2004 est.) |
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| Exports - commodities | (principally reexports) petroleum 51%, manufactured goods 41%, other 8% |
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| Exports - partners | UK 30.8%, Spain 22.7%, Germany 13.7%, Turkmenistan 10.4%, Switzerland 8.3%, Italy 6.7% (2005) |
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| Imports | $2.967 billion c.i.f. (2004 est.) |
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| Imports - commodities | fuels, manufactured goods, and foodstuffs |
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| Imports - partners | Spain 23.4%, Russia 12.3%, Italy 12%, UK 9%, France 8.9%, Netherlands 6.8%, US 4.7% (2005) |
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| Debt - external | $NA |
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| Economic aid - recipient | $NA |
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| Currency code | GIP |
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| Exchange rates | Gibraltar pounds per US dollar - 0.5434 (2006), 0.5504 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002)
note: the Gibraltar pound is at par with the British pound |
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| Fiscal year | 1 July - 30 June |
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