Manx Economy, Isle of Man Economy
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Economy - overview: Offshore banking, manufacturing, and tourism are key sectors of the economy. The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island has paid off in expanding employment opportunities in high-income industries. As a result, agriculture and fishing, once the mainstays of the economy, have declined in their shares of GDP. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets.
GDP:
GDP - real growth rate: NA%
GDP - per capita: Purchasing power parity - $28,500 (2003 est.)
GDP - composition by sector: Agriculture: 1% industry: 13% services: 86% (2000 est.)
Population below poverty line: NA
Household income or consumption by percentage share: Lowest 10%: NA% highest 10%: NA%
Distribution of family income - Gini index:
Inflation rate (consumer prices):
Labor force: 39,690 (2001)
Labor force - by occupation: Agriculture, forestry and fishing 3%, manufacturing 11%, construction 10%, transport and communication 8%, wholesale and retail distribution 11%, professional and scientific services 18%, public administration 6%, banking and finance 18%, tourism 2%, entertainment and catering 3%, miscellaneous services 10%
Unemployment rate: 0.6% (2004 est.)
Budget: Revenues: $485 million expenditures: $463 million, including capital expenditures of NA (FY00/01 est.)
Industries: Financial services, light manufacturing, tourism
Industrial production growth rate: 3.2% (FY96/97)
Electricity - production:
Electricity - production by source:
Electricity - consumption:
Electricity - exports:
Electricity - imports:
Oil - production:
Oil - consumption:
Oil - exports:
Oil - imports:
Oil - proved reserves:
Natural gas - production:
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Natural gas - proved reserves:
Agriculture - products: Cereals, vegetables; cattle, sheep, pigs, poultry
Exports: $NA
Exports - commodities: Tweeds, herring, processed shellfish, beef, lamb
Exports - partners: UK (2000)
Imports: $NA
Imports - commodities: Timber, fertilizers, fish
Imports - partners: UK (2000)
Debt - external: $NA
Economic aid - recipient: NA
Currency:
Currency code:
Exchange rates: Manx pounds per US dollar - 0.5462 (2004), 0.6125 (2003), 0.6672 (2002), 0.6947 (2001), 0.6609 (2000)
Fiscal year: 1 April - 31 March
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The information here has been derived from Public Domain Sources such as the CIA World Factbook. No liability can be taken for any inaccuracies.
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