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NAVIGATION
Isle of Man
former: Norwegian Kingdom of the Hebrides
GOVERNMENT
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Country name:
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conventional long form: none
conventional short form: Isle of Man |
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Dependency status:
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British crown dependency |
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Government type:
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parliamentary democracy |
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Capital:
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Douglas |
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Administrative divisions:
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there are no first-order administrative divisions as defined by the US Government, but there are 24 local authorities each with its own elections |
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Independence:
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none (British crown dependency) |
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National holiday:
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Tynwald Day, 5 July |
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Constitution:
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unwritten; note - The Isle of Man Constitution Act, 1961, does not embody the Manx Constitution |
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Legal system:
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English common law and Manx statute |
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Suffrage:
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18 years of age; universal |
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Executive branch:
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chief of state: Lord of Mann Queen ELIZABETH II (since 6 February 1952), represented by Lieutenant Governor Ian MACFADYEN (since NA 2002)
election results: Richard CORKILL elected chief minister by the Tynwald elections: the monarch is hereditary; lieutenant governor appointed by the monarch for a five-year term; the Chief Minister is elected by the Tynwald; election last held 6 December 2001 (next to be held NA December 2006) head of government: Chief Minister Richard CORKILL (since 6 December 2001) cabinet: Council of Ministers |
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Legislative branch:
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bicameral Tynwald consists of the Legislative Council (an 11-member body composed of the President of Tynwald, the Lord Bishop of Sodor and Man, a nonvoting attorney general, and 8 others named by the House of Keys) and the House of Keys (24 seats; members are elected by popular vote to serve five-year terms)
elections: House of Keys - last held 22 November 2001 (next to be held NA November 2006) election results: House of Keys - percent of vote by party - Man Labor Party 17.3%, Alliance for Progressive Government 14.6%; seats by party - Man Labor Party 2, Alliance for Progressive Government 3, independents 19 |
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Judicial branch:
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High Court of Justice (justices are appointed by the Lord Chancellor of England on the nomination of the lieutenant governor) |
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Political parties and leaders:
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Man Labor Party [leader NA]; Alliance for Progressive Government [leader NA]; Man Nationalist Party [leader NA]
note: most members sit as independents |
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Political pressure groups and leaders:
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none |
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International organization participation:
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none |
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Diplomatic representation in the US:
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none (British crown dependency) |
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Diplomatic representation from the US:
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none (British crown dependency) |
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Flag description:
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red with the Three Legs of Man emblem (Trinacria), in the center; the three legs are joined at the thigh and bent at the knee; in order to have the toes pointing clockwise on both sides of the flag, a two-sided emblem is used |
ECONOMY
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Economy - overview:
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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. |
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GDP:
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purchasing power parity - $1.4 billion (1999 est.) |
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GDP - real growth rate:
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13.5% (1999 est.) |
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GDP - per capita:
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purchasing power parity - $18,800 (1999 est.) |
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GDP - composition by sector:
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agriculture: 1%
industry: 13% services: 86% (2000 est.) |
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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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2.5% (2000 est.) |
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Labor force:
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36,610 (1998) |
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Labor force - by occupation:
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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% |
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Unemployment rate:
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0.7% (February 2002 ) |
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Budget:
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revenues: $485 million
expenditures: $463 million, including capital expenditures of $NA (FY00/01 est. ) |
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Industries:
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financial services, light manufacturing, tourism |
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Industrial production growth rate:
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3.2% (FY96/97 ) |
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Agriculture - products:
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cereals, vegetables; cattle, sheep, pigs, poultry |
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Exports:
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$NA |
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Exports - commodities:
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tweeds, herring, processed shellfish, beef, lamb |
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Exports - partners:
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UK |
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Imports:
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$NA |
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Imports - commodities:
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timber, fertilizers, fish |
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Imports - partners:
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UK |
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Debt - external:
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$NA |
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Economic aid - recipient:
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$NA |
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Currency:
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British pound (GBP); note - there is also a Manx pound |
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Currency code:
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GBP |
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Exchange rates:
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Manx pounds per US dollar - 0.6764 (January 2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); the Manx pound is at par with the British pound |
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Fiscal year:
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1 April - 31 March |