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Strategically important, Gibraltar was reluctantly ceded to Great Britain by Spain in the 1713 Treaty of Utrecht; the British garrison was formally declared a colony in 1830. In a referendum held in 1967, Gibraltarians voted overwhelmingly to remain a British dependency. The subsequent granting of autonomy in 1969 by the UK led Spain to close the border and sever all communication links. Between 1997 and 2002, the UK and Spain held a series of talks on establishing temporary joint sovereignty over Gibraltar. In response to these talks, the Gibraltar Government called a referendum in late 2002 in which the majority of citizens voted overwhelmingly against any sharing of sovereignty with Spain. Since late 2004, Spain, the UK, and Gibraltar have held tripartite talks with the aim of cooperatively resolving problems that affect the local population, and work continues on cooperation agreements in areas such as taxation and financial services; communications and maritime security; policy, legal and customs services; environmental protection; and education and visa services. A new noncolonial constitution came into force in 2007, and the European Court of First Instance recognized Gibraltar's right to regulate its own tax regime in December 2008. The UK retains responsibility for defense, foreign relations, internal security, and financial stability.

Location

Southwestern Europe, bordering the Strait of Gibraltar, which links the Mediterranean Sea and the North Atlantic Ocean, on the southern coast of Spain

Natural Resources

none

Population - distribution

English (used in schools and for official purposes), Spanish, Italian, Portuguese
GIBRALTAR (capital) 29,000 (2014)
Conventional long form
none
Conventional short form
Gibraltar
Local long form
Local short form
parliamentary democracy (Parliament); self-governing overseas territory of the UK
Name
Gibraltar
Geographic coordinates
36 08 N, 5 21 W
Time difference
UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
Daylight saving time
+1hr, begins last Sunday in March; ends last Sunday in October
Self-sufficient Gibraltar benefits from an extensive shipping trade, offshore banking, and its position as an international conference center. Tax rates are low to attract foreign investment. The British military presence has been sharply reduced and now contributes about 7% to the local economy, compared with 60% in 1984. In recent years, Gibraltar has seen major structural change from a public to a private sector economy, but changes in government spending still have a major impact on the level of employment.
Inflation
None%
Total tax rate (% of commercial profits)
None%
Real Interest Rate
None%
Manufacturing, value added (% of GDP)
None%
Current Account Balance
US$
Labor Force, Total
Employment in Agriculture
%
Employment in Industry
%
Employment in Services
%
Unemployment Rate
%
Imports of goods and services
US$
Exports of goods and services
US$
Total Merchandise Trade
%
FDI, net inflows
US$
Commercial Service Exports
US$
tourism, banking and finance, ship repairing, tobacco
Commodities
(principally reexports) petroleum 51%, manufactured goods (2010 est.)
Partners
Commodities
fuels, manufactured goods, foodstuffs
Partners
Country Risk Rating
Business Climate Rating

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