Economy in detail Economy of Gibraltar

gibraltar exports treemap (2009)

gibraltar benefits extensive shipping trade, regulated international finance center, tourism, , has become global leader in virtual gaming industry.

self-sufficient gibraltar benefits extensive shipping trade, offshore banking, , position international conference center. british military presence has been sharply reduced , contributes 7% local economy, compared 60% in 1984. financial sector, tourism (almost 5 million visitors in 1998), shipping services fees, , duties on consumer goods generate revenue. financial sector, shipping sector, , tourism each contribute 25%-30% of gdp. telecommunications accounts 10%. in recent years, gibraltar has seen major structural change public private sector economy, changes in government spending still have major impact on level of employment.

figures cia world factbook show main export markets in 2006 united kingdom 30.8%, spain 22.7%, germany 13.7%, turkmenistan 10.4%, switzerland 8.3%, italy 6.7% while corresponding figures imports spain 23.4%, russia 12.3%, italy 12%, uk 9%, france 8.9%, netherlands 6.8% , united states 4.7%.

the gibraltar government state economy grew in 2004/2005 7% gdp of £599,180,000. based on statistics in 2006 surveys, government statisticians estimate has grown 8.5% in 2005/6 , 10.8% in 2006/7 , gdp around 730 million. inflation running @ 2.6% in 2006 , predicted 2% 3% in 2007. speaking @ 2007 budget session, peter caruana, chief minister said scale of gibraltar s economic success makes 1 of affluent communities in entire world.

labour force: 12,690 (including non-gibraltar labourers) (2001)

labour force - occupation: services 60%, industry 40%, agriculture negl% unemployment rate 2% (2001)

budget revenues: $455.1 million expenditures: $423.6 million (2005 est.)

public debt 15.7% of gdp (2005 est.)

industries tourism, banking , finance, ship repairing, tobacco

industrial production growth rate na%

electricity - production 142 million kwh (2006 est.)

electricity - production source

fossil fuel 100%

hydro 0%

nuclear 0%

other 0%

electricity - consumption 142 million kwh (2006 est.)

electricity - exports 0 kwh (1998)

electricity - imports 0 kwh (1998)

oil - production 0 barrels per day (0 m/d) (2001 est.)

oil - consumption 42,000 barrels per day (6,700 m/d) 2001

oil - exports na (2001)

oil - imports na (2001)

agriculture - products none

exports $271 million (2004 est.)

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

exports - partners uk, morocco, portugal, netherlands, spain, us, germany

imports $2.967 billion (2004 est.)

imports - commodities fuels, manufactured goods, , foodstuffs

imports - partners uk, spain, japan, netherlands

fiscal year 1 july - 30 june

the above figures taken cia world factbook september 2009 edition.