Europe > Gibraltar > Economy

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Agriculture > products none
Budget > Expenditures	$423,600,000.00		[149th of 165]
Budget > Revenues	$455,100,000.00		[146th of 166]
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.
Exchange rates Gibraltar pounds per US dollar - 0.5462 (2004), 0.6125 (2003), 0.6672 (2002), 0.6947 (2001), 0.6609 (2000)
Exports	$271,000,000.00		[24th of 189]
Exports > Commodities (principally reexports) petroleum 51%, manufactured goods 41%, other 8%
Exports > Partners UK 30.8%, Spain 22.7%, Germany 13.7%, Turkmenistan 10.4%, Switzerland 8.3%, Italy 6.7%
Exports to US	$200,000.00		[197th of 224]
Fiscal year	1 July - 30 June
GDP	$500,000,000.00		[169th of 203]
GDP (official exchange rate)	$1,066,000,000.00		[165th of 192]
GDP (purchasing power parity)	$1,066,000,000.00		[176th of 187]
GDP > Real growth rate	7%		[39th of 198]
Imports	$2,967,000,000.00		[8th of 185]
Imports > Commodities fuels, manufactured goods, and foodstuffs
Imports from US	$10,000,000.00		[141st of 224]
Inflation rate (consumer prices)	2.9%		[124th of 192]
Public debt	15.7 % of GDP		[102nd of 121]
Trade balance with US	$9,800,000.00		[50th of 224]

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