mocratic Party, Joe
Pitaluga

Suffrage: universal at age 18, plus other UK subjects resident six
months or more

Elections:
House of Assembly: last held on 24 March 1988 (next to be held
March 1992);
results--percent of vote by party NA;
seats--(18 total, 15 elected) SL 8, GCL/AACR 7

Communists: negligible

Other political or pressure groups: Housewives Association, Chamber of
Commerce, Gibraltar Representatives Organization

Diplomatic representation: none (colony 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

- 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: $129 million, per capita $4,450; real growth rate NA% (FY85)

Inflation rate (consumer prices): 4.4% (1986)

Unemployment rate: NA%

Budget: revenues $105 million; expenditures $104 million, including
capital expenditures of NA (FY87)

Exports: $62.2 million (1985);
commodities--(principally reexports) petroleum 75%, beverages and
tobacco 12%, manufactured goods 8%;
partners--UK, Morocco, Portugal, Netherlands, Spain, US, FRG

Imports: $147 million (1985);
commodities--manufactured goods, fuels, and foodstuffs;
partners--UK, Morocco, Portugal, Netherlands, Spain, US, FRG

External debt: $NA

Industrial production: growth rate NA%

Electricity: 46,000 kW capacity; 200 million kWh produced, 6,770 kWh
per capita (1989)

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: NA

Aid: US commitments, including Ex-Im (FY70-87), $0.8 million;
Western (non-US) countries, ODA and OOF bilateral commitments (1970-87),
$162.5 million

Currency: Gibraltar pound (plural--pounds);
1 Gibraltar pound (LG) = 100 pence

Exchange rates: Gibraltar pounds (LG) per US$1--0.6055 (January 1990),
0.6099 (1989), 0.5614 (1988), 0.610