Economy - overview:
Offshore banking, manufacturing, and tourism are key sectors of the
economy. The government offers incentives to high-technology
companies and financial institutions to locate on the island; this
has paid off in expanding employment opportunities in high-income
industries. As a result, agriculture and fishing, once the mainstays
of the economy, have declined in their shares of GDP. The Isle of
Man also attracts online gambling sites and the film industry. Trade
is mostly with the UK. The Isle of Man enjoys free access to EU
markets.
GDP (purchasing power parity):
$2.113 billion (2003 est.)
GDP (official exchange rate):
$2.26 billion (2003)
GDP - real growth rate:
6.3% (2003)
GDP - per capita (PPP):
$27,800 (2003 est.)
GDP - composition by sector: agriculture: 1% industry: 13% services: 86% (2000 est.)
Labor force:
39,690 (2001)
Labor force - by occupation:
agriculture, forestry and fishing 3%, manufacturing 3%,
construction 10%, transport and communication 11%, wholesale and
retail distribution 11%, professional and scientific services 10%,
public administration 6%, banking and finance 18%, tourism 2%,
entertainment and catering 3%, miscellaneous services 10%
Unemployment rate:
0.6% (2004 est.)
Population below poverty line:
NA%