Part 284

Political parties and leaders: Gibraltar Socialist Labor Party (SL), Joe BOSSANO; Gibraltar Labor Party/Association for the Advancement of Civil Rights (GCL/AACR), leader Adolfo CANEPA; Gibraltar Social Democrats (SD), Peter CARUANA; Gibraltar National Party (NP), Joe GARCIA

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

International organization participation: Interpol (subbureau)

Diplomatic representation in US: none (dependent territory of the UK)

US diplomatic representation: none (dependent territory 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 -------

Economic overview: Gibraltar benefits from an extensive shipping trade and offshore banking. The British military presence has been sharply reduced and now contributes about 11% to the local economy. The financial sector accounts for 15% of GDP; tourism, shipping services fees, and duties on consumer goods also generate revenue. 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.

GDP: purchasing power parity - $205 million (1993 est.)

GDP real growth rate: NA%

GDP per capita: $6,600 (1993 est.)

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

Inflation rate (consumer prices): NA%

Labor force: 14,800 (including non-Gibraltar laborers) note: UK military establishments and civil government employ nearly 50% of the labor force

Unemployment rate: NA%

Budget: revenues: $116 million expenditures: $124 million, including capital expenditures of $NA (1992-93)

Industries: tourism, banking and finance, construction, commerce; support to large UK naval and air bases; tobacco, mineral waters, beer, canned fish

Industrial production growth rate: NA%

Electricity: capacity: 47,000 kW production: 90 million kWh consumption per capita: 2,539 kWh (1993)

Agriculture: none

Exports: $57 million (f.o.b., 1992) commodities: (principally reexports) petroleum 51%, manufactured goods 41%, other 8% partners: UK, Morocco, Portugal, Netherlands, Spain, US, FRG

Imports: $420 million (c.i.f., 1992) commodities: fuels, manufactured goods, and foodstuffs partners: UK, Spain, Japan, Netherlands

External debt: $318 million (1987)

Economic aid: recipient: ODA, $NA

Currency: 1 Gibraltar pound (LG) = 100 pence

Exchange rates: Gibraltar pounds (LG) per US$1 - 0.6535 (January 1996), 0.6335 (1995), 0.6529 (1994), 0.6658 (1993), 0.5664 (1992), 0.5652 (1991); note - the Gibraltar pound is at par with the British pound

Fiscal year: 1 July - 30 June

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