In the 1980s, the Gibraltar economy was dominated by the British Ministry of Defence, which accounted for some 35 per cent of GDP. However, major cut-backs over the last 20 years have reduced its contribution to GDP to about 7%.
Gibraltar has achieved diversification of the economy in such a relatively short timescale, so that today there is 97% employment amongst Gibraltarians. The four (export) pillars of the Gibraltar economy are:
- Financial Services
- E-commerce, particularly online gambling.
These industries are supported by the construction and wholesale/retail sectors.
The other sectors of the Gibraltar economy are also growing rapidly, so that the economy is fairly balanced and not dependent on a single industry.
Gibraltar generally follows English common law and the rules of equity, with the English Civil Procedure Rules applying in civil matters. The Magistrates’ Court, Coroner’s Court, Supreme Court and the Court of Appeal all sit in Gibraltar. The ultimate Court of Appeal is the Privy Council in the United Kingdom.
The laws of Gibraltar can be found here