Economy of Gibraltar

Economy of Gibraltar
CurrencyPound Sterling
1 July - 30 June
Trade organisations
EU, OECD and WTO
Statistics
GDPIncrease£2.344 billion (2018)
GDP growth
Increase5.9% (2018)[1]
GDP per capita
Increase$92,843(2016)[1]
GDP by sector
agriculture 0%, industry 0%, services 100% (2008 est.)
Steady2.6% (2006)
Population below poverty line
n/av
n/av
Labour force
12,690 (including non-Gibraltar laborers) (2001)
Labour force by occupation
agriculture - negligible, industry 40%, services 60% (2001)
Unemployment3% (2005 est.)
Main industries
tourism, banking and finance, ship repairing tobacco, gambling
External
Exports$271 million (2004 est.)
Export goods
(principally reexports) petroleum 51%, manufactured goods 41%, other 8%
Main export partners
n/av
Imports$2.967 billion (2004 est.)
Import goods
fuels, manufactured goods, foodstuffs
Main import partners
n/av
n/av
Public finances
Decrease 7.5% of GDP (2008 est.)
Revenues$475.8 million (2008 est.)
Expenses$452.3 million (2008 est.)
All values, unless otherwise stated, are in US dollars.


The economy of Gibraltar consists largely of the services sector. While part of the European Union until Brexit, the British overseas territory of Gibraltar has a separate legal jurisdiction from the United Kingdom and a different tax system.[2] The role of the UK Ministry of Defence, which at one time was Gibraltar's main source of income, has declined, with today's economy mainly based on shipping, tourism, financial services, and the Internet (mostly gambling).

As of 2020, Brexit represents a major uncertainty for the Gibraltar economy.

  1. ^ a b "Chief Minister's Budget Address" (PDF). Archived from the original (PDF) on 2 April 2015. Retrieved 18 April 2018.
  2. ^ Gibraltar Taxation home page Archived 18 April 2010 at the Wayback Machine

From Wikipedia, the free encyclopedia · View on Wikipedia

Developed by Nelliwinne