# Gibraltar (GI)

**Capital:** Gibraltar  
**Currency:** Gibraltar pound (GIP) (GIP)  
**Population:** 34,000 — Older stored figure; source year not documented.  
**Area:** 6.8 km²

> Gibraltar is a British Overseas Territory at the Strait of Gibraltar and the Mediterranean's largest bunkering port. It levies no VAT; since 10 April 2026 a customs union with the EU applies, together with a new Transaction Tax on goods. Supplies arrive via the seaport and the land border with Spain.

Gibraltar (ISO code: GI) is a British Overseas Territory at the southern tip of the Iberian Peninsula, bordering Spain at the entrance to the Mediterranean. It is under UK sovereignty but has its own autonomous government and parliament. The climate is Mediterranean, with mild winters and hot summers. The economy is driven by financial and business services, online gaming, tourism and maritime services; external trade is highly import-dependent (food, fuel, consumer goods). The Port of Gibraltar is the Mediterranean's largest bunkering port and underpins transit and supply between the Atlantic and the Mediterranean. Gibraltar levies no VAT. Since 10 April 2026 a customs union between Gibraltar and the EU has been in force, alongside a new Transaction Tax on goods that replaces the former import-duty structure. The currency is the Gibraltar Pound (GIP), pegged 1:1 to the British Pound.

**Top Import Partners:** ES, GB, CN, NL, IT

**Top Export Partners:** GB, ES, NL, MT, IT

**Top Import Goods:** Food, Petroleum products, Consumer goods, Building materials, Machinery

**Top Export Goods:** Fuel, Beverages, Tobacco products, Online gaming

**Key Airports:**
- [Gibraltar Airport (GIB)](https://www.freight-academy.com/en/information/airports/gibraltar-airport-gib)

## Customs & Import

**Import VAT:** No VAT/sales tax. Since 10.04.2026 Transaction Tax on imported goods: standard 15 percent (year 1), rising to 17 percent  
**Customs complexity:** medium  
**Customs system:** Since 10.04.2026 EU-Gibraltar customs union; electronic clearance via the ITMS (Integrated Tariff Management System) of HM Customs Gibraltar.  
**Customs authority:** [HM Customs Gibraltar](https://www.hmcustoms.gov.gi)

## Logistics & Risk

**Logistics role:** Bunker hub and transit point at the Strait of Gibraltar  
**Economic area:** EU customs union (Gibraltar-EU, since 2026)  
**Logistics risk:** low to medium  
**Dangerous goods relevance:** high (bunker fuel)  
**Pharma/cold chain:** low

## FAQ

### Does Gibraltar charge VAT?

No. Gibraltar levies no VAT. However, since 10 April 2026 a Transaction Tax applies to imported goods, starting at 15 percent and rising in steps to 17 percent.

### What does the EU-Gibraltar customs union mean for imports?

Since 10 April 2026 Gibraltar is part of a customs union with the EU. EU external-border formalities apply and clearance runs electronically through HM Customs Gibraltar's ITMS.

### Which authority handles customs?

HM Customs Gibraltar is responsible, covering imports, exports, excise duties and the Transaction Tax.

### How important is the Port of Gibraltar?

The port is the Mediterranean's largest bunkering port. In 2025 about 5,267 vessels called for bunkers (up 3.6 percent on 2024), and around 60,000 vessels transit the Strait each year.

### Which currency is used in Gibraltar?

The legal tender is the Gibraltar Pound (GIP), pegged 1:1 to the British Pound. Pound Sterling is also accepted.

### Are there sanctions or export controls?

Yes. Under the Gibraltar Sanctions Act 2019, Gibraltar autonomously implements UN, UK and EU sanctions and can issue its own designations. Oversight rests with the GFIU.

## Sources & Last Verified

- [https://www.gibraltar.gov.gi](https://www.gibraltar.gov.gi)
- [https://www.hmcustoms.gov.gi](https://www.hmcustoms.gov.gi)
- [https://www.gibraltar.gov.gi/press-releases/technical-notice-basic-features-of-the-customs-union-between-gibraltar-and-the-eu-722026-11670](https://www.gibraltar.gov.gi/press-releases/technical-notice-basic-features-of-the-customs-union-between-gibraltar-and-the-eu-722026-11670)
- [https://www.ey.com/en_gl/technical/tax-alerts/gibraltar-announces-details-of-transaction-tax-on-goods-and-changes-to-duty](https://www.ey.com/en_gl/technical/tax-alerts/gibraltar-announces-details-of-transaction-tax-on-goods-and-changes-to-duty)
- [https://www.gibraltarport.com/bunkering](https://www.gibraltarport.com/bunkering)
- [https://ship.energy/energy/gibraltar-records-3-6-y-o-y-increase-in-bunker-calls-in-2025/](https://ship.energy/energy/gibraltar-records-3-6-y-o-y-increase-in-bunker-calls-in-2025/)
- [https://www.gibraltar.gov.gi/sanctions](https://www.gibraltar.gov.gi/sanctions)
- [https://www.gfiu.gov.gi/sanctions](https://www.gfiu.gov.gi/sanctions)

*Last verified: 2026-06-23*

---

*Freight Academy — Country Profile: [https://www.freight-academy.com/en/information/land/gi](https://www.freight-academy.com/en/information/land/gi)*

*Markdown mirror: [https://www.freight-academy.com/api/md/country/en/gi](https://www.freight-academy.com/api/md/country/en/gi)*