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Monaco:
Economy

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Economy - overview
Definition
Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a major banking center and has successfully sought to diversify into services and small, high-value-added, nonpolluting industries. The state has no income tax and low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. The state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service. Living standards are high, roughly comparable to those in prosperous French metropolitan areas.
GDP (purchasing power parity)
Definition - World rank and map
$976.3 million
note: Monaco does not publish national income figures; the estimates are extremely rough (2006 est.)
GDP (official exchange rate)
Definition
$NA
GDP - real growth rate
Definition - World rank and map
0.9% (2000 est.)
GDP - per capita
Definition - World rank and map
$30,000 (2006 est.)
GDP - composition by sector
Definition
agriculture: 0%
industry: 4.9%
services: 95.1% (2005)
Labor force
Definition
44,000
note: includes workers from all foreign countries (2005 est.)
Unemployment rate
Definition - World rank and map
0% (2005)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
1.9% (2000)
Budget
Definition
revenues: $863 million
expenditures: $920.6 million (2005 est.)
Agriculture - products
Definition
none
Industries
Definition
tourism, construction, small-scale industrial and consumer products
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - consumption
Definition - World rank and map
NA kWh
Electricity - imports
Definition
NA kWh; note - electricity supplied by France
Exports
Definition - World rank and map
$716.3 million
note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France (2005)
Imports
Definition - World rank and map
$916.1 million
note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France (2005)
Debt - external
Definition - World rank and map
$18 billion (2000 est.)
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
$NA
Currency (code)
Definition
euro (EUR)
Exchange rates
Definition
euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Fiscal year
Definition
calendar year


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