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: $182 million, per capita $4,600; real growth rate 5% (FY87)

Inflation rate (consumer prices): 3.6% (1988)

Unemployment rate: NA%

Budget: revenues $136 million; expenditures $139 million, including capital expenditures of NA (FY88)

Exports: $82 million (1988); commodities--(principally reexports) petroleum 51%, manufactured goods 41%, other 8%; partners--UK, Morocco, Portugal, Netherlands, Spain, US, FRG

Imports: $258 million (1988); commodities--fuels, manufactured goods, and foodstuffs; partners--UK, Spain, Japan, Netherlands

External debt: $318 million (1987)

Industrial production: growth rate NA%

Electricity: 47,000 kW capacity; 200 million kWh produced, 6,670 kWh per capita (1990)

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

Economic aid: US commitments, including Ex-Im (FY70-88), $0.8 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $187 million

Currency: Gibraltar pound (plural--pounds); 1 Gibraltar pound (5G) = 100 pence

Exchange rates: Gibraltar pounds (5G) per US$1--0.5171 (January 1991), 0.5603 (1990), 0.6099 (1989), 0.5614 (1988), 0.6102 (1987), 0.6817 (1986), 0.7714 (1985); note--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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 1991 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 1991 should be addressed to the CIA.