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Man, Isle of

Introduction to Man, Isle of

Part of the Norwegian Kingdom of the Hebrides until the 13th century when it was ceded to Scotland, the isle came under the British crown in 1765. Current concerns include reviving the almost extinct Manx Gaelic language.

Government

Capital:

Douglas 

National holiday:

Tynwald Day, 5 July 

Economy

Economy 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 GDP. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets. 

GDP:

purchasing power parity -$6 billion (2001 est.) 

GDP - composition by sector:

agriculture: 1%
industry: 13%
services: 86% (2000 est.)

Agriculture products:

cereals, vegetables; cattle, sheep, pigs, poultry 

Industries:

financial services, light manufacturing, tourism 

Transportation

Ports and harbors:

Castletown, Douglas, Peel, Ramsey

Merchant marine:

total: 226 ships (1,000 GRT or over) 6,055,436 GRT/9,972,459 DWT
by type: bulk 25, cargo 40, chemical tanker 25, combination bulk 2, container 19, liquefied gas 31, multi-functional large load carrier 1, petroleum tanker 59, refrigerated cargo 1, roll on/roll off 17, specialized tanker 1, vehicle carrier 5
registered in other countries: 9 (2003 est.)
foreign-owned: Australia 3, Cyprus 4, Denmark 30, Estonia 3, France 1, Germany 57, Greece 8, Hong Kong 11, Iceland 1, Italy 6, Monaco 4, Netherlands 2, New Zealand 1, Norway 10, Singapore 2, Sweden 3, United Kingdom 80, United States 1

Airports:

1 (2003 est.)