Economy of Gibraltar
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. 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).
| Currency | Pound Sterling |
|---|---|
| 1 July - 30 June | |
Trade organisations | EU, OECD and WTO |
| Statistics | |
| GDP | £2.344 billion (2018) |
GDP growth | 5.9% (2018) |
GDP per capita | $92,843(2016) |
GDP by sector | agriculture 0%, industry 0%, services 100% (2008 est.) |
| 2.6% (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) |
| Unemployment | 3% (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 |
Gross external debt | n/av |
| Public finances | |
Government debt | 7.5% of GDP (2008 est.) |
| Revenues | $475.8 million (2008 est.) |
| Expenses | $452.3 million (2008 est.) |
As of 2020, Brexit represents a major uncertainty for the Gibraltar economy.
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