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    Man, Isle of Economy - 1991

      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 over 20% to GNP and manufacturing about 15%. Trade is mostly with the UK.

      GNP: $490 million, per capita $7,573; real growth rate NA% (1988)

      Inflation rate (consumer prices): NA%

      Unemployment rate: 1.5% (1988)

      Budget: revenues $130.4 million; expenditures $114.4 million, including capital expenditures of $18.1 million (FY85 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: 61,000 kW capacity; 190 million kWh produced, 2,930 kWh per capita (1989)

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

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

      Economic aid: NA

      Currency: Manx pound (plural--pounds); 1 Manx pound (5M) = 100 pence

      Exchange rates: Manx pounds (5M) 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); 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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Man, Isle of Economy 1991 information contained here. All suggestions for corrections of any errors about Man, Isle of Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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