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