ependent territory of the UK)
Flag:
two horizontal bands of white (top, double width) and red with a
three-towered red castle in the center of the white band; hanging from the
castle gate is a gold key centered in the red band

:Gibraltar Economy

Overview:
The economy depends heavily on British defense expenditures, revenue from
tourists, fees for services to shipping, and revenues from banking and
finance activities. Because more than 70% of the economy is in the public
sector, changes in government spending have a major impact on the level of
employment. Construction workers are particularly affected when government
expenditures are cut.
GNP:
exchange rate conversion - $182 million, per capita $4,600; real growth rate
5% (FY87)
Inflation rate (consumer prices):
3.6% (1988)
Unemployment rate:
NA%
Budget:
revenues $136 million; expenditures $139 million, including capital
expenditures of NA (FY88)
Exports:
$82 million (f.o.b., 1988)
commodities:
(principally reexports) petroleum 51%, manufactured goods 41%, other 8%
partners:
UK, Morocco, Portugal, Netherlands, Spain, US, FRG
Imports:
$258 million (c.i.f., 1988)
commodities:
fuels, manufactured goods, and foodstuffs
partners:
UK, Spain, Japan, Netherlands
External debt:
$318 million (1987)
Industrial production:
growth rate NA%
Electricity:
47,000 kW capacity; 200 million kWh produced, 6,670 kWh per capita (1991)
Industries:
tourism, banking and finance, construction, commerce; support to large UK
naval and air bases; transit trade and supply depot in the port; light
manufacturing of tobacco, roasted coffee, ice, mineral waters, candy, beer,
and canned fish
Agriculture:
none
Economic aid:
US commitments, including Ex-Im (FY70-88), $0.8 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $188 million
Currency:
Gibraltar pound (plural - pounds); 1 Gibraltar pound (#G) = 100 pence
Exchange rates:
Gibraltar pounds (#G) per US$1 - 0.5799 (March 1992), 0.5652 (1991), 0.5603
(1990), 0.6099 (1989), 0.5614 (1988), 0.6102 (1987); note - the Gibraltar
pound is at par with the British pound
Fiscal year:
1 July - 30 June

:Gibraltar Communications

Railroads:
1.000-meter-gauge system in dockyard area only
Highways:
50 km, mostly good bitumen and concrete
Pipelines: