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.

purchasing power parity - $500 million (1997 est.)

NA%

purchasing power parity - $17,500 (1997 est.)

agriculture: NA%
industry: NA%
services: NA%

NA%

lowest 10%: NA%
highest 10%: NA%

1.5% (1998)

14,800 (including non-Gibraltar laborers)

services 60%, industry 40%, agriculture
NEGL%

13.5% (1996)

revenues: $119.3 million
expenditures: $122.1 million, including capital expenditures of $NA
(FY96/97)

tourism, banking and finance, ship-building and repairing;
support to large UK naval and air bases; tobacco, mineral water, beer,
canned fish

NA%

90 million kWh (1998)

fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

84 million kWh (1998)

0 kWh (1998)

0 kWh (1998)

none

$81.1 million (f.o.b., 1997)

(principally reexports) petroleum 51%,
manufactured goods 41%, other 8%

UK, Morocco, Portugal, Netherlands, Spain, US,
Germany

$492 million (c.i.f., 1997)

fuels, manufactured goods, and foodstuffs

UK, Spain, Japan, Netherlands

$NA

$NA

1 Gibraltar pound = 100 pence

Gibraltar pounds per US$1 - 0.6092 (January 2000),
0.6180 (1999), 0.6037 (1998), 0.6106 (1997), 0.6403 (1996), 0.6335
(1995); note - the Gibraltar pound is at par with the British pound

1 July - 30 June