% 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 - $500 million (1997 est.)

GDP - real growth rate:
NA

GDP - per capita:
purchasing power parity - $17,500 (1997 est.)

GDP - composition by sector:
agriculture: NA
industry: NA
services: NA (2002 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
1.5% (1998)

Labor force:
14,800 (including non-Gibraltar laborers) (1999)

Labor force - by occupation:
agriculture negligible, industry 40%, services 60%

Unemployment rate:
2% (2001 est.)

Budget:
revenues: $307 million
expenditures: $284 million, including capital expenditures of NA
(FY00/01 est.)

Agriculture - products:
none

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

Industrial production growth rate:
NA

Electricity - production:
100 million kWh (2001)

Electricity - consumption:
93 million kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption:
42,000 bbl/day (2001 est.)

Oil - exports:
NA (2001)

Oil - imports:
NA (2001)

Exports:
$136 million f.o.b. (2002)

Exports - commodities:
(principally reexports) petroleum 51%, manufactured goods 41%,
other 8%

Exports - partners:
Germany 25.6%, France 24.8%, UK 14.3%, Turkmenistan 9.4%,
Switzerland 7.5%, Spain 5.6% (2003)

Imports:
$1.743 billion c.i.f. (2002)

Imports - commodities:
fuels, manufactured goods, and foodstuffs

Imports - partners:
Spain 26.5%, UK 14.8%, Russia 8.2%, Italy 6.6%, Netherlands 6.5%,
France 5.3%, Germany 4.6%, Romania 4.2% (2003)

Debt - external:
NA (2000 est.)

Economic aid - recipient:
NA

Currency:
Gibraltar pound (GIP)

Currency code:
GIP

Exchange rates:
Gibralt