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Gibraltar Economy 2011
https://theodora.com/wfb2011/gibraltar/gibraltar_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 11, 2011

Economy - overview:
Self-sufficient 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 7% to the local economy, compared with 60% in 1984. The financial sector, tourism (almost 5 million visitors in 1998), shipping services fees, and duties on consumer goods also generate revenue. The financial sector, the shipping sector, and tourism each contribute 25%-30% of GDP. Telecommunications accounts for another 10%. 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):
$1.106 billion (2006 est.)
country comparison to the world: 200

$1.066 billion (2005 est.)
$769 million (2000 est.)
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$1.106 billion (2006 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.7% (2006)
country comparison to the world: 91

7% (2005 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$38,400 (2006 est.)
country comparison to the world: 26

$38,200 (2005 est.)
$27,900 (2000 est.)
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: NA%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: NA%
[see also: GDP - composition by sector - industry country ranks ]
services: NA%
[see also: GDP - composition by sector - services country ranks ]

Labor force:
12,690 (including non-Gibraltar laborers) (2001)
country comparison to the world: 215
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: negligible
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 40%
[see also: Labor force - by occupation - industry country ranks ]
services: 60% (2001)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
3% (2005 est.)
country comparison to the world: 23
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $455.1 million
[see also: Budget - revenues country ranks ]
expenditures: $423.6 million (2005 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
15.5% of GDP (2006)
country comparison to the world: 119

15.7% of GDP (2005 est.)

[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2.6% (2006)
country comparison to the world: 79

2.9% (2005)
[see also: Inflation rate (consumer prices) country ranks ]

Agriculture - products:
none

Industries:
tourism, banking and finance, ship repairing, tobacco

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Electricity - production:
146 million kWh (2007 est.)
country comparison to the world: 183
[see also: Electricity - production country ranks ]

Electricity - consumption:
146 million kWh (2007 est.)
country comparison to the world: 184
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 193
[see also: Oil - production country ranks ]

Oil - consumption:
21,000 bbl/day (2009 est.)
country comparison to the world: 123
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 154
[see also: Oil - exports country ranks ]

Oil - imports:
25,610 bbl/day (2007 est.)
country comparison to the world: 105
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 177
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 108
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 181
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 75
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 173
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 176
[see also: Natural gas - proved reserves country ranks ]

Exports:
$271 million (2004 est.)
country comparison to the world: 177
[see also: Exports country ranks ]

Exports - commodities:
(principally reexports) petroleum 51%, manufactured goods

Imports:
$2.967 billion (2004 est.)
country comparison to the world: 142
[see also: Imports country ranks ]

Imports - commodities:
fuels, manufactured goods, and foodstuffs

Debt - external:
$NA
[see also: Debt - external country ranks ]

Exchange rates:
Gibraltar pounds (GIP) per US dollar - 0.6494 (2009), 0.5302 (2008), 0.4993 (2007), 0.5418 (2006)
note: the Gibraltar pound is at par with the British pound


NOTE: The information regarding Gibraltar on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gibraltar Economy 2011 information contained here. All suggestions for corrections of any errors about Gibraltar Economy 2011 should be addressed to the CIA.



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This page was last modified 09-Feb-11
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