Country Details
Isle of Man1
Central Europe, bordering the Baltic Sea and the North Sea, between the Netherlands and Poland, south of Denmark
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Economy
Detailed information and insights
Economic overview
leading export-driven, core EU and eurozone economy; key automotive, chemical, engineering, finance, and green energy industries; growth stalled by energy crisis and declining exports; tight labor market with falling working-age population; fiscal rebalancing with phaseout of energy price supports
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024
$5.247 trillion (2024 est.)
Real GDP (purchasing power parity) 2023
$5.26 trillion (2023 est.)
Real GDP (purchasing power parity) 2022
$5.274 trillion (2022 est.)
Real GDP growth rate
Real GDP growth rate 2024
-0.2% (2024 est.)
Real GDP growth rate 2023
-0.3% (2023 est.)
Real GDP growth rate 2022
1.4% (2022 est.)
Real GDP per capita
Real GDP per capita 2024
$62,800 (2024 est.)
Real GDP per capita 2023
$62,700 (2023 est.)
Real GDP per capita 2022
$62,900 (2022 est.)
GDP (official exchange rate)
$4.66 trillion (2024 est.)
Note
note: data in current dollars at official exchange rate
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2024
2.3% (2024 est.)
Inflation rate (consumer prices) 2023
5.9% (2023 est.)
Inflation rate (consumer prices) 2022
6.9% (2022 est.)
GDP - composition, by sector of origin
Agriculture
0.8% (2024 est.)
Industry
25.8% (2024 est.)
Services
63.9% (2024 est.)
GDP - composition, by end use
Household consumption
49.9% (2023 est.)
Government consumption
21.2% (2023 est.)
Investment in fixed capital
21.5% (2023 est.)
Investment in inventories
0.2% (2023 est.)
Exports of goods and services
43.4% (2023 est.)
Imports of goods and services
-39.4% (2023 est.)
Agricultural products
milk, sugar beets, wheat, potatoes, barley, maize, rapeseed, pork, rye, triticale (2023)
Note
note: top ten agricultural products based on tonnage
Industries
iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, automobiles, food and beverages, shipbuilding, textiles
Industrial production growth rate
-3% (2024 est.)
Note
note: annual % change in industrial value added based on constant local currency
Labor force
43.772 million (2024 est.)
Note
note: number of people ages 15 or older who are employed or seeking work
Unemployment rate
Unemployment rate 2024
3.5% (2024 est.)
Unemployment rate 2023
3.1% (2023 est.)
Unemployment rate 2022
3.2% (2022 est.)
Youth unemployment rate (ages 15-24)
Total
6.7% (2024 est.)
Male
7.4% (2024 est.)
Female
5.9% (2024 est.)
Population below poverty line
14.8% (2021 est.)
Note
note: % of population with income below national poverty line
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2020
32.4 (2020 est.)
Average household expenditures
On food
11.6% of household expenditures (2023 est.)
On alcohol and tobacco
3.1% of household expenditures (2023 est.)
Household income or consumption by percentage share
Lowest 10%
2.9% (2020 est.)
Highest 10%
25% (2020 est.)
Remittances
Remittances 2024
0.5% of GDP (2024 est.)
Remittances 2023
0.5% of GDP (2023 est.)
Remittances 2022
0.5% of GDP (2022 est.)
Budget
Revenues
$1.279 trillion (2023 est.)
Expenditures
$1.369 trillion (2023 est.)
Public debt
Public debt 2017
63.9% of GDP (2017 est.)
Taxes and other revenues
11% (of GDP) (2022 est.)
Note
note: central government tax revenue as a % of GDP
Current account balance
Current account balance 2024
$267.056 billion (2024 est.)
Current account balance 2023
$251.479 billion (2023 est.)
Current account balance 2022
$161.759 billion (2022 est.)
Exports
Exports 2024
$1.949 trillion (2024 est.)
Exports 2023
$1.958 trillion (2023 est.)
Exports 2022
$1.917 trillion (2022 est.)
Exports - partners
USA 10%, France 8%, Netherlands 7%, China 7%, Italy 6% (2023)
Note
note: top five export partners based on percentage share of exports
Exports - commodities
cars, vehicle parts/accessories, packaged medicine, plastic products, vaccines (2023)
Note
note: top five export commodities based on value in dollars
Imports
Imports 2024
$1.774 trillion (2024 est.)
Imports 2023
$1.781 trillion (2023 est.)
Imports 2022
$1.808 trillion (2022 est.)
Imports - partners
China 12%, Netherlands 7%, USA 7%, Poland 6%, France 5% (2023)
Note
note: top five import partners based on percentage share of imports
Imports - commodities
cars, vehicle parts/accessories, garments, natural gas, vaccines (2023)
Note
note: top five import commodities based on value in dollars
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024
$377.936 billion (2024 est.)
Reserves of foreign exchange and gold 2023
$322.7 billion (2023 est.)
Reserves of foreign exchange and gold 2022
$293.914 billion (2022 est.)
Exchange rates
Currency
euros (EUR) per US dollar -
Exchange rates 2024
0.924 (2024 est.)
Exchange rates 2023
0.925 (2023 est.)
Exchange rates 2022
0.95 (2022 est.)
Exchange rates 2021
0.845 (2021 est.)
Exchange rates 2020
0.876 (2020 est.)