Flag description: two horizontal bands of white (top, double width) and red with a three-towered red castle in the center of the white band; hanging from the castle gate is a gold key centered in the red band
Gibraltar Economy
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.
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%