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| Economy - overview: |
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 11% to the local economy. The financial sector accounts for 20% of GDP; tourism (almost 6 million visitors in 1998), shipping services fees, and duties on consumer goods also generate revenue. 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.
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| GDP: |
purchasing power parity - $500 million (1997 est.)
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| 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%
|
| 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)
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| Labor force - by occupation: |
services 60%, industry 40%, agriculture NEGL%
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| Unemployment rate: |
13.5% (1996)
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| Budget: |
revenues:
$307 million
expenditures:
$284 million, including capital expenditures of $NA (FY00/01 est.)
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| Industries: |
tourism, banking and finance, ship-building and repairing; support to large UK naval and air bases; tobacco, mineral water, beer, canned fish
|
| Industrial production growth rate: |
NA%
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| Electricity - production: |
95 million kWh (1999)
|
| Electricity - production by source: |
fossil fuel:
100%
hydro:
0%
nuclear:
0%
other:
0% (1999)
|
| Electricity - consumption: |
88.4 million kWh (1999)
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| Electricity - exports: |
0 kWh (1999)
|
| Electricity - imports: |
0 kWh (1999)
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| Agriculture - products: |
none
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| Exports: |
$81.1 million (f.o.b., 1997)
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| Exports - commodities: |
(principally reexports) petroleum 51%, manufactured goods 41%, other 8%
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| Exports - partners: |
UK, Morocco, Portugal, Netherlands, Spain, US, Germany
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| Imports: |
$492 million (c.i.f., 1997)
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| Imports - commodities: |
fuels, manufactured goods, and foodstuffs
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| Imports - partners: |
UK, Spain, Japan, Netherlands
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| Economic aid - recipient: |
$NA
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| Currency: |
Gibraltar pound (GIP)
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| Exchange rates: |
Gibraltar pounds per US dollar - 0.6764 (January 2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997), 0.6403 (1996); note - the Gibraltar pound is at par with the British pound
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| Fiscal year: |
1 July - 30 June
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