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| Economy - 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 GDP. Banking and other services now contribute 42% to GDP. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets.
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| GDP: |
purchasing power parity - $1.4 billion (1999 est.)
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| GDP - real growth rate: |
13.5% (1999 est.)
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| GDP - per capita: |
purchasing power parity - $18,800 (1999 est.)
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| GDP - composition by sector: |
agriculture:
1%
industry:
9%
services:
90% (1999 est.)
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| Population below poverty line: |
NA%
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| Household income or consumption by percentage share: |
lowest 10%:
NA%
highest 10%:
NA%
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| Inflation rate (consumer prices): |
2.5% (2000 est.)
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| Labor force: |
36,610 (1998)
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| Labor force - by occupation: |
agriculture, forestry and fishing 3%, manufacturing 11%, construction 10%, transport and communication 8%, wholesale and retail distribution 11%, professional and scientific services 18%, public administration 6%, banking and finance 18%, tourism 2%, entertainment and catering 3%, miscellaneous services 10%
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| Unemployment rate: |
0.6% (August 2000)
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| Budget: |
revenues:
$485 million
expenditures:
$463 million, including capital expenditures of $NA (FY00/01 est.)
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| Industries: |
financial services, light manufacturing, tourism
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| Industrial production growth rate: |
3.2% (FY96/97)
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| Agriculture - products: |
cereals, vegetables; cattle, sheep, pigs, poultry
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| Exports - commodities: |
tweeds, herring, processed shellfish, beef, lamb
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| Imports - commodities: |
timber, fertilizers, fish
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| Economic aid - recipient: |
$NA
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| Currency: |
British pound (GBP); note - there is also a Manx pound
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| Exchange rates: |
Manx pounds per US dollar - 0.6764 (January 2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997), 0.6403 (1996); the Manx pound is at par with the British pound
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| Fiscal year: |
1 April - 31 March
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