Monaco 2003 - Flags, Maps, Economy, Geography, Climate, Natural Resources, Current Issues, International Agreements, Population, Social Statistics, Political System

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Monaco Economy - 2003
https://theodora.com/wfb2003/monaco/monaco_economy.html
SOURCE: 2003 CIA WORLD FACTBOOK

Economy - overview: Monaco, situated on the French Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. In 2001, a major new construction project will extend the pier used by cruise ships in the main harbor. The principality 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. Monaco does not publish national income figures; the estimates below are extremely rough.

GDP: purchasing power parity - $870 million (1999 est.)

GDP - per capita: purchasing power parity - $27,000 (1999 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): NA%

Labor force: 30,540 (January 1994)

Unemployment rate: 3.1% (1998)

Budget: revenues: $518 million
expenditures: $531 million, including capital expenditures of $NA (1995)

Industries: tourism, construction, small-scale industrial and consumer products

Industrial production growth rate: NA%

Electricity - consumption: NA kWh

Agriculture - products: none

Exports: $NA; full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

Imports: $NA; full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

Debt - external: $NA

Economic aid - recipient: $NA

Currency: euro (EUR)

Currency code: EUR

Exchange rates: euros per US dollar - 1.0626 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999); French francs per US dollar - 5.8995 (1998)

Fiscal year: calendar year

NOTE: The information regarding Monaco on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Monaco Economy 2003 should be addressed to the CIA.

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