ion per year, which
help support the island's health, education, and welfare system.
Squid accounts for 75% of the fish taken. Dairy farming supports
domestic consumption; crops furnish winter fodder. Exports feature
shipments of high-grade wool to the UK and the sale of postage
stamps and coins. The islands are now self-financing except for
defense. The British Geological Survey announced a 200-mile oil
exploration zone around the islands in 1993, and early seismic
surveys suggest substantial reserves capable of producing 500,000
barrels per day; to date, no exploitable site has been identified.
An agreement between Argentina and the UK in 1995 seeks to defuse
licensing and sovereignty conflicts that would dampen foreign
interest in exploiting potential oil reserves. Tourism, especially
eco-tourism, is increasing rapidly, with about 30,000 visitors in
2001. Another large source of income is interest paid on money the
government has in the bank. The British military presence also
provides a sizeable economic boost.

GDP (purchasing power parity):

$75 million (2002 est.)

GDP (official exchange rate):

$NA

GDP - real growth rate:

NA%

GDP - per capita (PPP):

$25,000 (2002 est.)

GDP - composition by sector:

agriculture: 95%
industry: NA%
services: NA%

Labor force:

1,724 (est.) (1996)

Labor force - by occupation:

agriculture: 95% (mostly sheepherding and fishing)
industry and services: 5% (1996)

Unemployment rate:

full employment; labor shortage (2001)

Population below poverty line:

NA%

Household income or consumption by percentage share:

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

Budget:

revenues: $66.2 million
expenditures: $67.9 million (FY98/99 est.)

Fiscal year:

1 April - 31 March

Inflation rate (consumer prices):

3.6% (1998)

Agriculture - products:

fodder and vegetable crops; sheep, dairy products; fish, squid

Industries:

fish and wool processing; tourism

Industrial production growth rate:

NA%

Electricity - production:

16 million kWh (2006 est.)

Electricity - consumption:

14.88 million kWh (2006 est.)

Electricity - exports:

0 kWh (2007 est.)

Electricity - imports:

0 kWh (2007 est.)

Electricity - production by source:

fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)

Oil - production:

0 bbl/day (2007 est.)

Oil - consumption:

252.3 bbl/day (2006 est.)

O