The 2003 CIA World Factbook. United States. Central Intelligence Agency
residents six months or more
Executive branch:
chief of state: Queen ELIZABETH II (since 6 February 1952),
represented by Governor and Commander-in-Chief Sir Francis RICHARDS
(since 27 May 2003)
elections: none; the monarch is hereditary; governor appointed by
the monarch; following legislative elections, the leader of the
majority party or the leader of the majority coalition is usually
appointed chief minister by the governor
head of government: Chief Minister Peter CARUANA (since 17 May 1996)
cabinet: Council of Ministers appointed from among the 15 elected
members of the House of Assembly by the governor in consultation
with the chief minister
Legislative branch:
unicameral House of Assembly (18 seats - 15 elected by popular
vote, one appointed for the Speaker, and two ex officio members;
members serve four-year terms)
elections: last held 27 November 2003 (next to be held not later
than NA 2007)
election results: percent of vote by party - GSD 58%, GSLP 41%;
seats by party - GSD 8, GSLP 7
Judicial branch:
Supreme Court; Court of Appeal
Political parties and leaders:
Gibraltar Liberal Party [Joseph GARCIA]; Gibraltar Social Democrats
or GSD [Peter CARUANA]; Gibraltar Socialist Labor Party or GSLP
[Joseph John BOSSANO]
Political pressure groups and leaders:
Chamber of Commerce; Gibraltar Representatives Organization;
Women's Association
International organization participation:
Interpol (subbureau)
Diplomatic representation in the US:
none (overseas territory of the UK)
Diplomatic representation from the US:
none (overseas territory of the UK)
Flag description:
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 Gibraltar
Economy - overview:
Gibraltar benefits from an extensive shipping trade, offshore
banking, and its position as an international conference center. The
British military presence has been sharply reduced and now
contributes about 7% to the local economy, compared with 60% in
1984. The financial sector, tourism (almost 5 million visitors in
1998), shipping services fees, and duties on consumer goods also
generate revenue. The financial sector, the shipping sector, and
tourism each contribute 25%-30% of GDP. Telecommunications accounts
for another 10%. In recent years, Gibraltar has seen major
structural change from a public to a private sector economy, but
changes in government spending still have a major impact on the
level of employment.
GDP:
purchasing power parity - $500 million (1997 est.)
GDP - real growth rate:
NA%
GDP - per capita:
purchasing power parity - $17,500 (1997 est.)
GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
1.5% (1998)
Labor force:
14,800 (including non-Gibraltar laborers)
Labor force - by occupation:
services 60%, industry 40%, agriculture NEGL%
Unemployment rate:
2% (2001 est.)
Budget:
revenues: $307 million
expenditures: $284 million, including capital expenditures of $NA
(FY 00/01 est.)
Industries:
tourism, banking and finance, ship repairing, tobacco
Industrial production growth rate:
NA%
Electricity - production:
100 million kWh (2001)
Electricity - production by source: fossil fuel: 100% hydro: 0% other: 0% (2001) nuclear: 0%
Electricity - consumption:
93 million kWh (2001)
Electricity - exports:
0 kWh (2001)
Electricity - imports:
0 kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
42,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Agriculture - products:
none
Exports:
$81.1 million f.o.b. (1997)
Exports - commodities:
(principally reexports) petroleum 51%, manufactured goods 41%,
other 8%
Exports - partners:
UK 27.7%, Switzerland 14.3%, Germany 12%, France 6.9%, Spain 6.1%,
Turkmenistan 5%, Ukraine 4.6% (2002)
Imports:
$492 million c.i.f. (1997)
Imports - commodities:
fuels, manufactured goods, and foodstuffs
Imports - partners:
Germany 27.3%, Spain 21.8%, UK 12.1%, Italy 8% (2002)
Debt - external:
$NA
Economic aid - recipient:
$NA; note - if an agreement between Spain and the UK is reached,
could receive 50 million euros from the EU
Currency:
Gibraltar pound (GIP)
Currency code:
GIP
Exchange