Overview: Offshore banking, manufacturing, and tourism are key sectors of the economy. The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island 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 shares of GNP. Banking now contributes about 45% to GNP. Trade is mostly with the UK. The Isle of Man enjoys free access to European Union markets.

National product: GNP - exchange rate conversion - $490 million (1988)

National product real growth rate: NA%

National product per capita: $7,500 (1988)

Inflation rate (consumer prices): 7% (1992 est.)

Unemployment rate: 1% (1992 est.)

Budget:
revenues: $130.4 million
expenditures: $114.4 million, including capital expenditures of $18.1 million (1985 est.)

Exports: $NA
commodities: tweeds, herring, processed shellfish, meat
partners: UK

Imports: $NA
commodities: timber, fertilizers, fish
partners: UK

External debt: $NA

Industrial production: growth rate NA%

Electricity:
capacity: 61,000 kW
production: 190 million kWh
consumption per capita: 2,965 kWh (1992)

Industries: an important offshore financial center; financial services, light manufacturing, tourism

Agriculture: cereals and vegetables; cattle, sheep, pigs, poultry

Economic aid: $NA

Currency: 1 Manx pound (#M) = 100 pence
Exchange rates: Manx pounds (#M) per US$1 - 0.6699 (January 1994), 0.6658 (1993), 0.5664 (1992), 0.5652 (1991), 0.5603 (1990), 0.6099 (1989); the Manx pound is at par with the British pound

Fiscal year: 1 April - 31 March

NOTE: The information regarding Man, Isle of on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Man, Isle of Economy 1995 information contained here. All suggestions for corrections of any errors about Man, Isle of Economy 1995 should be addressed to the CIA.