Economy (Man  Isle of)
======================


     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.
     GNP:
         exchange rate conversion - $490 million, per capita $7,573; real growth rate
         NA% (1988)
     Inflation rate (consumer prices):
         NA%
     Unemployment rate:
         1.5% (1988)
     Budget:
         revenues $130.4 million; expenditures $114.4 million, including capital
         expenditures of $18.1 million (FY85 est.)
     Exports:
         $NA
       commodities:
         tweeds, herring, processed shellfish, meat
       partners:
         UK
     Imports:
         $NA
       commodities:
         timber, fertilizers, fish
       partners:
         UK
     External debt:
         $NA
     Industrial production:
         growth rate NA%
     Electricity:
         61,000 kW capacity; 190 million kWh produced, 2,930 kWh per capita (1989)
     Industries:
         an important offshore financial center; financial services, light
         manufacturing, tourism
     Agriculture:
         cereals and vegetables; cattle, sheep, pigs, poultry
     Economic aid:
         NA
     Currency:
         Manx pound (plural - pounds); 1 Manx pound (#M) = 100 pence
     Exchange rates:
         Manx pounds (#M) per US$1 - 0.5799 (March 1992), 0.5652 (1991), 0.5603
         (1990), 0.6099 (1989), 0.5614 (1988), 0. 6102 (1987); the Manx pound is at
         par with the British pound
     Fiscal year:
         1 April - 31 March