Economy - overview:
Financial services, manufacturing, and tourism are key sectors of the economy. The government offers low taxes and other incentives to high-technology companies and financial institutions to locate on the island; this 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 contributions to GDP. The Isle of Man also attracts online gambling sites and the film industry. Online gambling sites provided about 10% of the islands income in 2014. The Isle of Man currently enjoys free access to EU markets and trade is mostly with the UK. The Isle of Man’s trade relationship with the EU derives from the United Kingdom’s EU membership and will need to be renegotiated in light of the United Kingdom’s decision to withdraw from the bloc.

GDP (purchasing power parity):
$7.428 billion (2014 est.) $6.298 billion (2013 est.) $5.85 billion (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 168

GDP (official exchange rate):
$6.615 billion (2007 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.2% (2012) 3.4% (2011) 2.1% (2010)
country comparison to the world: 147
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$84,600 (2014 est.) $73,100 (2013 est.) $68,500 (2012 est.)
country comparison to the world: 9

GDP - composition, by sector of origin:
agriculture: 1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 13%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 86% (FY12/13 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cereals, vegetables; cattle, sheep, pigs, poultry

Industries:
financial services, light manufacturing, tourism

Labor force:
41,790 (2006)
country comparison to the world: 195
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture, forestry, and fishing: 2%
manufacturing: 5%
construction: 8%
gas, electricity, and water: 1%
transport and communication: 9%
wholesale and retail distribution: 11%
professional and scientific services: 20%
public administration: 7%
banking and finance: 23%
tourism: 1%
entertainment and catering: 5%
miscellaneous services: 8% (2006)

Unemployment rate:
2.7% (2013 est.) 2% (April 2011 est.)
country comparison to the world: 26
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $965 million
[see also: Budget - revenues country ranks ]
expenditures: $943 million (FY05/06 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
14.6% of GDP (FY05/06 est.)
country comparison to the world: 196
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.3% of GDP (FY05/06 est.)
country comparison to the world: 28
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
5% (2010 est.) 3.1% (2006)
country comparison to the world: 172
[see also: Inflation rate (consumer prices) country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Exports:
$NA
[see also: Exports country ranks ]

Exports - commodities:
tweeds, herring, processed shellfish, beef, lamb

Imports:
$NA
[see also: Imports country ranks ]

Imports - commodities:
timber, fertilizers, fish

Debt - external:
$NA
[see also: Debt - external country ranks ]

Exchange rates:
Manx pounds (IMP) per US dollar - 0.7836 (2017) 0.738 (2016) 0.738 (2015) 0.6542 (2014) 0.6472 (2013 est.)