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Gibraltar

Capital Gibraltar
Area Sq Km 7
Area Sq Miles 3
Population 25 000
Languages Spanish, English
Religions Protestant, Roman, Catholic, Sunni Muslim
Currency Pound
National Day

Gibraltar

Economy Overview
The main sources of income are tourism and offshore financial services, principally banking, insurance and shipping-related services. The industrial economy is based on ship repair, construction and small-scale manufacturing. The British armed forces - historically the main source of revenue through their base facilities on the Rock - sharply reduced their presence from 1994 onwards and now provide less than 10 per cent of GDP. Since then, concessionary tax and corporate facilities for foreign companies have boosted the financial services sector. Since 1998, a substantial gambling industry has developed servicing punters from throughout Europe -again the consequence of a favourable tax regime - and now makes a significant contribution to employment and government revenue. The economy as a whole is particularly sensitive to the state of relations with Spain and in particular the level of border crossings. At present, these are almost wholly unrestricted with the result that a significant number of Spaniards have jobs on the Rock. The UK is naturally the largest source of imports. Gibraltar is not an exporter as such but earns foreign exchange through re-export, mainly into Spain.
Government
Gibraltar is a British Crown Colony, where the British monarch is represented by a Governor, currently David Durie who assumed the post in 2000. The Chief Minister presides over the Council of Ministers which administers domestic affairs. Fifteen of the 17-member House of Assembly are elected to represent the population's local interests. The ex-officio members are the Attorney General and the Financial and Development Secretary. Britain is responsible for defence and foreign affairs.

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