Isle of Man

Country Summary

Introduction

Background

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. The Isle of Man is a British Crown dependency, which makes it a self-governing possession of the British Crown that is not part of the UK. The UK Government remains constitutionally responsible for its defense and international representation.

Geography

Area

total: 572 sq km
land: 572 sq km
water: 0 sq km

Climate

temperate; cool summers and mild winters; overcast about a third of the time

Natural resources

none

People and Society

Population

91,840 (2023 est.)

Ethnic groups

White 94.7%, Asian 3.1%, Mixed 1%, Black 0.6%, other 0.4% (2021 est.)

Languages

English, Manx Gaelic (about 2% of the population has some knowledge)

Religions

Christian 54.7%, Muslim 0.5%, Buddhist 0.5%, Hindu 0.4%, Jewish 0.2%, none 43.8% (2021 est.)

Population growth rate

0.48% (2023 est.)

Government

Government type

parliamentary democracy (Tynwald)

Capital

name: Douglas

Executive branch

chief of state: Lord of Mann King CHARLES III (since 8 September 2022); represented by Lieutenant Governor Sir John LORIMER (since 29 September 2021)
head of government: Chief Minister Alfred CANNAN (since 12 October 2021)

Legislative branch

description: bicameral Tynwald or the High Court of Tynwald consists of:
Legislative Council (11 seats; includes the President of Tynwald, 2 ex-officio (non-voting) members - the Lord Bishop of Sodor and Man and the attorney general - and 8 members indirectly elected by the House of Keys with renewal of 4 members every 2 years; elected members serve 4-year terms)
House of Keys (24 seats; 2 members each from 12 constituencies directly elected by simple majority vote to serve 5-year terms)

Economy

Economic overview

high-income British island economy; known financial services and tourism industries; taxation incentives for technology and financial firms to operate; historic fishing and agriculture industries are declining; major online gambling and film industry locale

Real GDP (purchasing power parity)

$6.792 billion (2015 est.)
$7.428 billion (2014 est.)
$6.298 billion (2013 est.)

Real GDP per capita

$84,600 (2014 est.)
$86,200 (2013 est.)
$73,700 (2012 est.)

Agricultural products

cereals, vegetables; cattle, sheep, pigs, poultry

Industries

financial services, light manufacturing, tourism

Exports - partners

almost entirely United Kingdom (2022)

Exports - commodities

crude petroleum, artwork, vegetables, fruits, whiskies (2022)

Imports - partners

almost entirely United Kingdom (2022)

Imports - commodities

ships, delivery trucks (2022)

Exchange rates

Manx pounds (IMP) per US dollar -
Exchange rates:
0.727 (2021 est.)
0.78 (2020 est.)
0.783 (2019 est.)
0.75 (2018 est.)
0.777 (2017 est.)


Page last updated: Tuesday, March 26, 2024