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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 May 2018)

Fitch
-
Moody's
-

Gibraltar doesn't have sovereign credit ratings assigned by Fitch or Moody's.