Isle of Man Economy - 2024

Economic overview

high-income British island economy; known financial services and tourism industries; taxation incentives for technology and financial firms to operate; historic fishing and agriculture industries are declining; major online gambling and film industry locale

Real GDP (purchasing power parity)

$6.792 billion (2015 est.)
$7.428 billion (2014 est.)
$6.298 billion (2013 est.)

note: data are in 2014 US dollars

Real GDP growth rate

0.25% (2019 est.)
2.21% (2018 est.)
4.69% (2017 est.)

Real GDP per capita

$84,600 (2014 est.)
$86,200 (2013 est.)
$73,700 (2012 est.)

GDP (official exchange rate)

$6.792 billion (2015 est.)

Inflation rate (consumer prices)

4.1% (2017 est.)
1% (2016 est.)

Credit ratings

Moody's rating: Aa3 (2020)

Standard & Poors rating: N/A

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 1% (FY12/13 est.)

industry: 13% (FY12/13 est.)

services: 86% (FY12/13 est.)

Agricultural products

cereals, vegetables; cattle, sheep, pigs, poultry

Industries

financial services, light manufacturing, tourism

Industrial production growth rate

-5.1% (2019 est.)

Labor force

41,790 (2006)

Unemployment rate

1.1% (2017 est.)
2% (April 2011 est.)

Youth unemployment rate (ages 15-24)

total: 10.1% (2011 est.)

male: 11.8%

female: 8.2%

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $965 million (FY05/06 est.)

expenditures: $943 million (FY05/06 est.)

Budget surplus (+) or deficit (-)

0.3% (of GDP) (FY05/06 est.)

Taxes and other revenues

14.2% (of GDP) (FY05/06 est.)

Fiscal year

1 April - 31 March

Exports

N/A

Exports - partners

almost entirely United Kingdom (2022)

Exports - commodities

crude petroleum, artwork, vegetables, fruits, whiskies (2022)

Imports

N/A

Imports - partners

almost entirely United Kingdom (2022)

Imports - commodities

ships, delivery trucks (2022)

Debt - external

N/A

Exchange rates

Manx pounds (IMP) per US dollar -

Exchange rates:
0.727 (2021 est.)
0.78 (2020 est.)
0.783 (2019 est.)
0.75 (2018 est.)
0.777 (2017 est.)