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NAVIGATION
Gibraltar
GOVERNMENT
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Country name:
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conventional long form: none
conventional short form: Gibraltar |
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Dependency status:
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overseas territory of the UK |
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Government type:
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NA |
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Capital:
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Gibraltar |
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Administrative divisions:
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none (overseas territory of the UK) |
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Independence:
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none (overseas territory of the UK) |
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National holiday:
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National Day, 10 September (1964); note - day of the national referendum to decide whether to remain with the UK or go with Spain |
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Constitution:
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30 May 1969 |
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Legal system:
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English law |
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Suffrage:
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18 years of age; universal, plus other UK subjects who have been residents six months or more |
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Executive branch:
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chief of state: Queen ELIZABETH II (since 6 February 1952), represented by Governor and Commander-in-Chief David DURIE (since 5 April 2000); note - Sir Francis RICHARDS was appointed governor 18 December 2002 and will take office in 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 |
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Legislative branch:
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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 10 February 2000 (next to be held NA 2004) election results: percent of vote by party - GSD 58%, GSLP 41%; seats by party - GSD 8, GSLP 7 |
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Judicial branch:
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Supreme Court; Court of Appeal |
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Political parties and leaders:
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Gibraltar Social Democrats or GSD [Peter CARUANA]; Gibraltar Socialist Labor Party or GSLP [Joseph John BOSSANO] |
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Political pressure groups and leaders:
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Chamber of Commerce; Gibraltar Representatives Organization; Women's Association |
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International organization participation:
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Interpol (subbureau) |
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Diplomatic representation in the US:
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none (overseas territory of the UK) |
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Diplomatic representation from the US:
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none (overseas territory of the UK) |
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Flag description:
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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
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Economy - overview:
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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 11% to the local economy. The financial sector accounts for 20% of GDP; tourism (almost 6 million visitors in 1998), shipping services fees, and duties on consumer goods also generate revenue. 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. |
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GDP:
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purchasing power parity - $500 million (1997 est.) |
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GDP - real growth rate:
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NA% |
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GDP - per capita:
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purchasing power parity - $17,500 (1997 est.) |
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GDP - composition by sector:
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agriculture: NA%
industry: NA% services: NA% |
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Population below poverty line:
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NA% |
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Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
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Inflation rate (consumer prices):
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1.5% (1998) |
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Labor force:
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14,800 (including non-Gibraltar laborers) |
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Labor force - by occupation:
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services 60%, industry 40%, agriculture NEGL% |
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Unemployment rate:
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13.5% (1996) (1996) |
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Budget:
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revenues: $307 million
expenditures: $284 million, including capital expenditures of $NA (FY00/01 est. ) |
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Industries:
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tourism, banking and finance, ship-building and repairing; tobacco, mineral water, beer |
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Industrial production growth rate:
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NA% |
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Electricity - production:
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97 million kWh (2000) |
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Electricity - production by source:
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fossil fuel: 100%
hydro: 0% other: 0% (2000) nuclear: 0% |
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Electricity - consumption:
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90.21 million kWh (2000) |
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Electricity - exports:
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0 kWh (2000) |
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Electricity - imports:
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0 kWh (2000) |
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Agriculture - products:
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none |
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Exports:
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$81.1 million f.o.b. (1997) |
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Exports - commodities:
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(principally reexports) petroleum 51%, manufactured goods 41%, other 8% |
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Exports - partners:
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UK, Morocco, Portugal, Netherlands, Spain, US, Germany |
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Imports:
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$492 million c.i.f. (1997) |
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Imports - commodities:
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fuels, manufactured goods, and foodstuffs |
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Imports - partners:
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UK, Spain, Japan, Netherlands |
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Debt - external:
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$NA |
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Economic aid - recipient:
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$NA; note - if an agreement between Spain and the UK is reached, could receive 50 million euros from the EU |
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Currency:
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Gibraltar pound (GIP) |
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Currency code:
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GIP |
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Exchange rates:
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Gibraltar pounds per US dollar - 0.6981 (January 2002), 0.8977 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); note - the Gibraltar pound is at par with the British pound |
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Fiscal year:
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1 July - 30 June |