Overview: Offshore banking, manufacturing, and tourism are key sectors of the economy. The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island 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 GNP. Banking now contributes over 20% to GNP and manufacturing about 15%. Trade is mostly with the UK. The Isle of Man enjoys free access to European Community markets.

National product: GNP - exchange rate conversion - $490 million (1988)

National product real growth rate: NA%

National product per capita: $7,500 (1988)

Inflation rate (consumer prices): 7% (1992 est.)

Unemployment rate: 1% (1992 est.)

Budget: revenues $130.4 million; expenditures $114.4 million, including capital expenditures of $18.1 million (FY85 est.)

External debt: $NA

Industrial production: growth rate NA%

Electricity: 61,000 kW capacity; 190 million kWh produced, 2,965 kWh per capita (1992)

Industries: an important offshore financial center; financial services, light manufacturing, tourism

Agriculture: cereals and vegetables; cattle, sheep, pigs, poultry

Economic aid: NA

Currency: 1 Manx pound (#M)=100 pence

Exchange rates: Manx pounds (#M) per US$1 - 0.6527 (January 1993), 0.5664 (1992), 0.5652 (1991), 0.5603 (1990), 0.6099 (1989), 0.5614 (1988); the Manx pound is at par with the British pound

Fiscal year: 1 April-31 March