ands 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 - real growth rate:
NA%

GDP - per capita:
purchasing power parity - $25,000 (2002 est.)

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Labor force:
1,100 (est.)

Labor force - by occupation:
agriculture 95% (mostly sheepherding and fishing)

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%

Inflation rate (consumer prices):
3.6% (1998)

Budget:
revenues: $66.2 million
expenditures: $67.9 million, including capital expenditures of $23.2
million (FY98/99 est.)

Agriculture - products:
fodder and vegetable crops; sheep, dairy products

Industries:
fish and wool processing; tourism

Industrial production growth rate:
NA%

Electricity - production:
19.06 million kWh (2002)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)

Electricity - consumption:
17.72 million kWh (2002)

Electricity - exports:
0 kWh (2002)

Electricity - imports:
0 kWh (2002)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption:
200 bbl/day (2001 est.)

Oil - exports:
NA

Oil - imports:
NA

Exports:
$82 million (2002)

Exports - commodities:
wool, hides, meat

Exports - partners:
Spain 77.4%, UK 9.4%, US 4.9% (2004)

Imports:
$53 million (2002)

Imports - commodities:
fuel, food and drink, building materials, clothing

Imports - partners:
UK 63.2%, Spain 30.3%, France 3.6% (2004)

Debt - external:
$NA

Econ