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World > Europe > Isle of Man > Economy (Facts)

Isle of Man - Economy (Facts)
Economy - overview: Offshore banking, manufacturing, and tourism are key sectors of the economy. The government offers incentives to high-technology companies and financial institutions to locate on the island; this 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. The Isle of Man also attracts online gambling sites and the film industry. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets.
GDP - real growth rate: 5.2% (2005)
GDP (purchasing power parity): $2.719 billion (2005 est.)
GDP (official exchange rate): $2.719 billion (2005 est.)
GDP - per capita (PPP): $35,000 (2005 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
Inflation rate (consumer prices): 3.1% (December 2006 est.)
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: 1.5% (December 2006 est.)
Budget: revenues: $965 million
expenditures: $943 million; including capital expenditures of $96 million (FY05/06 est.)
Industries: financial services, light manufacturing, tourism
Industrial production growth rate: 3.2% (FY96/97)
Agriculture - products: cereals, vegetables; cattle, sheep, pigs, poultry
Exports: NA
Exports - commodities: tweeds, herring, processed shellfish, beef, lamb
Exports - partners: UK (2006)
Imports: NA
Imports - commodities: timber, fertilizers, fish
Imports - partners: UK (2006)
Debt - external: NA
Economic aid - recipient: NA
Currency: British Pound (GBP)

Current British Pound Exchange Rates
Historical British Pound Exchange Rates
Chart British Pound Exchange Rates
Currency code: GBP
Exchange rates: Manx pounds per US dollar - 0.5418 (2006), 0.5493 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002)
note: the Manx pound is at par with the British pound
Fiscal year: 1 April - 31 March


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Climate - Ranking Positions - British Pound Exchange Rates



Facts at a Glance
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British Pound Exchange Rates







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