to 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%

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:
16 million kWh (2004)

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

Electricity - consumption:
14.88 million kWh (2004)

Electricity - exports:
0 kWh (2004)

Electricity - imports:
0 kWh (2004)

Oil - production:
0 bbl/day (2004 est.)

Oil - consumption:
230 bbl/day (2004 est.)

Oil - exports:
NA bbl/day (2001)

Oil - imports: