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 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.
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 (2002 est.)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
1.5% (1998)
Labor force:
14,800 (including non-Gibraltar laborers) (1999)
Labor force - by occupation:
agriculture negligible, industry 40%, services 60%