Compare Gibraltar (2008) - Gibraltar (2007)

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	Gibraltar (2008)	Gibraltar (2007)

Background	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 to Spain closing the border and severing all communication links. A series of talks were held by the UK and Spain between 1997 and 2002 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 the referendum, tripartite talks on other issues have been held with Spain, the UK, and Gibraltar, and in September 2006 a three-way agreement was signed. Spain agreed to remove restrictions on air movements, to speed up customs procedures, to implement international telephone dialing, and to allow mobile roaming agreements. Britain agreed to pay increased pensions to Spaniards who had been employed in Gibraltar before the border closed. Spain will be allowed to open a cultural institute from which the Spanish flag will fly. A new non-colonial constitution came into effect in 2007, but the UK retains responsibility for defense, foreign relations, internal security, and financial stability.	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. Although the current 1969 Constitution for Gibraltar states that the British Government will never allow the people of Gibraltar to pass under the sovereignty of another state against their freely and democratically expressed wishes, a series of talks were held by the UK and Spain between 1997 and 2002 on establishing temporary joint sovereignty over Gibraltar. In response to these talks, the Gibraltarian Government set up a referendum in late 2002 in which a majority of the citizens voted overwhelmingly against any sharing of sovereignty with Spain. Since the referendum, tripartite talks have been held with Spain, the UK, and Gibraltar, and in September 2006 a three-way agreement was signed. Spain agreed to allow airlines other than British to serve Gibraltar, to speed up customs procedures, and to add more telephone lines into Gibraltar. Britain agreed to pay pensions to Spaniards who had been employed in Gibraltar before the border closed in 1969. Spain will be allowed to open a cultural institute from which the Spanish flag will fly.
Budget	revenues: $455.1 million expenditures: $423.6 million (2005 est.)	revenues: $307 million expenditures: $284 million (FY00/01 est.)
Exchange rates	Gibraltar pounds per US dollar - 0.4993 (2007), 0.5434 (2006), 0.5504 (2005), 0.5462 (2004), 0.6125 (2003) note: the Gibraltar pound is at par with the British pound	Gibraltar pounds per US dollar - 0.5434 (2006), 0.5504 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002) note: the Gibraltar pound is at par with the British pound
Exports	0 bbl/day (2004)	NA bbl/day
GDP - real growth rate	7% (2005 est.)	NA%
Imports	24,350 bbl/day (2004)	NA bbl/day
Inflation rate (consumer prices)	2.9% (2005)	1.5% (1998)
Unemployment rate	3% (2005 est.)	2% (2001 est.)

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