Great Depression II

The Isle of Man

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Economy

Offshore banking, manufacturing, and tourism are key sectors of the economy. The government offers low taxes and other 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 contributions to 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.
$2.719 billion (2005 est.)
country comparison to the world: See information ranked by country 179
$2.719 billion (2005 est.)
5.2% (2005)
country comparison to the world: See information ranked by country 51
$35,000 (2005 est.)
country comparison to the world: See information ranked by country 37
agriculture: 1%
industry: 13%
services: 86% (2000 est.)
39,690 (2001)
country comparison to the world: See information ranked by country 196
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% (2001)
1.8% (October 2010 est.)
country comparison to the world: See information ranked by country 10
1.5% (December 2006 est.)
NA%
lowest 10%: NA%
highest 10%: NA%
3.1% (December 2006 est.)
country comparison to the world: See information ranked by country 93
$NA
cereals, vegetables; cattle, sheep, pigs, poultry
financial services, light manufacturing, tourism
$NA
tweeds, herring, processed shellfish, beef, lamb
$NA
timber, fertilizers, fish
$NA
Manx pounds (IMP) per US dollar - 0.6504 (2010), 0.6389 (2009), 0.5302 (2008), 0.4993 (2007), 0.5418 (2006)
note: the Manx pound is at par with the British pound


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