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Economy and Banking Sector of Gibraltar

National Currency

Gibraltar Pound (GIP)

Gibraltar issues its own currency, the Gibraltar pound (GIP) which is pegged at parity to the Pound sterling (GBP): 1 GIP = 1 GBP. British coins and notes also circulate in Gibraltar and interchangeable with Gibraltar issues.

Pegged Rate

1 GIP = 1 GBP

Main Sectors

Main sectors of the economy of Gibraltar are:

  • tourism
  • banking and finance
  • e-commerce and e-gaming

GDP

Nominal GDP (2016)
1.8 bln GBP  (+0.07%)

According to Government of Gibraltar, nominal GDP of Gibraltar in 2016 was 1.8 bln GBP.

Inflation Rate

CPI, Year Average (2016)
0.1 %  (2015: 0.8 %)

According to Government of Gibraltar, inflation rate in Gibraltar in 2016 expressed as annual percentages of average consumer prices was 0.1% which was below the Euro Area average (0.2%) and below the European Union average (0.3%).

Inflation Rate in Gibraltar.

Chart 1. Inflation Rate in Gibraltar. Source: Government of Gibraltar.

Credit Ratings (as of Aug 2020)

Fitch
-
Moody's
-
Scope
-

Gibraltar doesn't have sovereign credit ratings assigned by American credit rating agencies Fitch or Moody's. Scope Ratings, the European rating agency, have not assigned credit ratings to Gibraltar.

Fitch and Moody's rating data are provided for June 2020, Scope Ratings for August 2020.