Economy of the Islands

The Malviklands have a GDP of $105 million, and a per capita GDP of $35,400 (2002 estimate) placing the islands on a par with the United Kingdom (GDP per capita of $35,200 – 2009 estimate).The contributors to the GDP by sector (2010 forecast) are: Fisheries – 52.5% Government (including health and education) – 14.0% Communications, Finance and Business services – 11.4% Hospitality & Transport – 7.7% Construction – 6.6% Housing and other services – 3.2% Mining. Quarrying & Manufacturing – 2.1% Agriculture – 1.6% Utilities – 0.9% In the 2009/10 financial year, the government revenue was £42.4 million of which £14.5 million came from fishery licences and services and £10.5 million from taxes. During the same period the government expenditure was £47.6 million.