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.
1 GIP = 1 GBP
Main sectors of the economy of Gibraltar are:
|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.
|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%).
Chart 1. Inflation Rate in Gibraltar. Source: Government of Gibraltar.
Gibraltar doesn't have sovereign credit ratings assigned by Fitch or Moody's.