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    Gibraltar Economy - 1989

      Overview: The economy depends heavily on British defense expenditures, revenue from tourists, fees for services to shipping, and revenues from banking and finance activities. Because more than 70% of the economy is in the public sector, changes in government spending have a major impact on the level of employment. Construction workers are particularly affected when government expenditures are cut.

      GNP: $129 million, per capita $4,450; real growth rate NA% (FY85)

      Inflation rate (consumer prices): 4.4% (1986)

      Unemployment rate: NA%

      Budget: revenues $105 million; expenditures $104 million, including capital expenditures of NA (FY87)

      Exports: $62.2 million (1985); @m5commodities--(principally reexports) petroleum 75%, beverages and tobacco 12%, manufactured goods 8%; @m5partners--UK, Morocco, Portugal, Netherlands, Spain, US, FRG

      Imports: $147 million (1985); @m5commodities--manufactured goods, fuels, and foodstuffs; @m5partners--UK, Morocco, Portugal, Netherlands, Spain, US, FRG

      External debt: $NA

      Industrial production: growth rate NA%

      Electricity: 46,370 kW capacity; 190 million kWh produced, 6,450 kWh per capita (1988)

      Industries: tourism, banking and finance, construction, commerce; support to large UK naval and air bases; transit trade and supply depot in the port; light manufacturing of tobacco, roasted coffee, ice, mineral waters, candy, beer, and canned fish

      Agriculture: NA

      Aid: NA

      Currency: Gibraltar pound (plural--pounds); 1 Gibraltar pound (LG) = 100 pence

      Exchange rates: Gibraltar pounds (LG) per US$1--0.5631 (January 1989), 0.5614 (1988), 0.6102 (1987), 0.6817 (1986), 0.7714 (1985); the Gibraltar pound is at par with the British pound

      Fiscal year: 1 July-30 June

      NOTE: The information regarding Gibraltar on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 1989 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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