note: adopted 1994; serves as a local anthem; as a territory of the United Kingdom, "God Save the Queen" remains official (see United Kingdom)
Economy ::Gibraltar
Economy - overview:
Self-sufficient Gibraltar benefits from an extensive shipping trade, offshore banking, and its position as an international conference center. Tax rates are low to attract foreign investment. 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), gaming revenues, shipping services fees, and duties on consumer goods also generate revenue. The financial sector, tourism, and the shipping sector contribute 30%, 30%, and 25%, respectively, of GDP. Telecommunications, e-commerce, and e-gaming account for the remaining 15%. 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):
$1.106 billion (2006 est.) country comparison to the world: 199 $1.066 billion (2005 est.)
$769 million (2000 est.)
GDP (official exchange rate):
$1.106 billion (2006 est.)
GDP - real growth rate: