Economy - overview:
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. Monaco, however, is not a tax-free shelter; it charges nearly 20% value-added tax, collects stamp duties, and companies face a 33% tax on profits unless they can show that three-quarters of profits are generated within the principality. Monaco was formally removed from the OECD's "grey list" of uncooperative tax jurisdictions in late 2009, but continues to face international pressure to abandon its banking secrecy laws and help combat tax evasion. 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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Market value of publicly traded shares: Industries: Industrial production growth rate: Electricity - consumption: Electricity - imports: Exports: Imports: Debt - external: Exchange rates:
NOTE: The information regarding Monaco on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Monaco Economy 2011 information contained here. All suggestions for corrections of any errors about Monaco Economy 2011 should be addressed to the CIA.
$976.3 million (2006 est.)
country comparison to the world: 202
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$NA
[see also: GDP (official exchange rate) country ranks ]
NA% (2000 est.)
[see also: GDP - real growth rate country ranks ]
$30,000 (2006 est.)
country comparison to the world: 46
[see also: GDP - per capita country ranks ]
agriculture: 0%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
4.9%
[see also: GDP - composition by sector - industry country ranks ]
services:
95.1% (2005)
[see also: GDP - composition by sector - services country ranks ]
44,000
country comparison to the world: 192
note:
includes workers from all foreign countries (2005 est.)
[see also: Labor force country ranks ]
0% (2005)
country comparison to the world: 1
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $863 million
[see also: Budget - revenues country ranks ]
expenditures:
$920.6 million (2005 est.)
[see also: Budget - expenditures country ranks ]
1.9% (2000)
country comparison to the world: 55
[see also: Inflation rate (consumer prices) country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
tourism, construction, small-scale industrial and consumer products
NA%
[see also: Industrial production growth rate country ranks ]
NA kWh
[see also: Electricity - consumption country ranks ]
NA kWh; note - electricity supplied by France
[see also: Electricity - imports country ranks ]
$716.3 million (2005)
country comparison to the world: 162
note:
full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France
[see also: Exports country ranks ]
$916.1 million (2005)
country comparison to the world: 173
note:
full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France
[see also: Imports country ranks ]
$18 billion (2000 est.)
country comparison to the world: 74
[see also: Debt - external country ranks ]
euros (EUR) per US dollar - 0.7715 (2010), 0.7179 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006)
This page was last modified 09-Feb-11