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 15% of GDP; tourism (more than 5 million visitors in 1995), shipping services fees, and duties on consumer goods also generate revenue. Because more than 70% of the economy is in the public sector, changes in government spending 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%
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): 2.1% (1996)
Labor force: 14,800 (including non-Gibraltar laborers)
Labor force—by occupation: services 60%, industry 40%, agriculture NEGL%