Main Page | See live article | Alphabetical index Economy - overview: '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 11% to the local economy. The financial sector accounts for 20% of GDP; tourism (almost 6 million visitors in 1998), shipping services fees, and duties on consumer goods also generate revenue. 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 - $500 million (1997 est.) GDP - real growth rate: NA% GDP - per capita: purchasing power parity - $17,500 (1997 est.) GDP - composition by sector: agriculture: NA% industry: NA% services: NA% Population below poverty line: NA% Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA% Inflation rate (consumer prices): 1.5% (1998) Labor force: 14,800 (including non-Gibraltar laborers) Labor force - by occupation: services 60%, industry 40%, agriculture NEGL% Unemployment rate: 13.5% (1996) Budget: revenues: $119.3 million expenditures: $122.1 million, including capital expenditures of $NA (FY96/97) Industries: tourism, banking and finance, ship-building and repairing; support to large UK naval and air bases; tobacco, mineral water, beer, canned fish Industrial production growth rate: NA% Electricity - production: 90 million kWh (1998) Electricity - production by source: fossil fuel: 100% hydro: 0% nuclear: 0% other: 0% (1998) Electricity - consumption: 84 million kWh (1998) Electricity - exports: 0 kWh (1998) Electricity - imports: 0 kWh (1998) Agriculture - products: none Exports: $81.1 million (f.o.b., 1997) Exports - commodities: (principally reexports) petroleum 51%, manufactured goods 41%, other 8% Exports - partners: UK, Morocco, Portugal, Netherlands, Spain, US, Germany Imports: $492 million (c.i.f., 1997) Imports - commodities: fuels, manufactured goods, and foodstuffs Imports - partners: UK, Spain, Japan, Netherlands Debt - external: $NA Economic aid - recipient: $NA Currency: 1 Gibraltar pound = 100 pence Exchange rates: Gibraltar pounds per US$1 - 0.6092 (January 2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997), 0.6403 (1996), 0.6335 (1995); note - the Gibraltar pound is at par with the British pound Fiscal year: 1 July - 30 June See also : Gibraltar This article is from Wikipedia. All text is available under the terms of the GNU Free Documentation License.