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Economy
Monaco

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. 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):

$976.3 million
note: Monaco does not publish national income figures; the estimates
are extremely rough (2006 est.)

GDP (official exchange rate):

$NA

GDP - real growth rate:

0.9% (2000 est.)

GDP - per capita (PPP):

$30,000 (2006 est.)

GDP - composition by sector:

agriculture: 0%
industry: 4.9%
services: 95.1% (2005)

Labor force:

44,000
note: includes workers from all foreign countries (2005 est.)

Unemployment rate:

0% (2005)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
highest 10%: NA%

Budget:

revenues: $863 million
expenditures: $920.6 million (2005 est.)

Fiscal year:

calendar year

Inflation rate (consumer prices):

1.9% (2000)

Agriculture - products:

none

Industries:

tourism, construction, small-scale industrial and consumer products

Industrial production growth rate:

NA%

Electricity - consumption:

NA kWh

Electricity - imports:

NA kWh; note - electricity supplied by France

Exports:

$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:

$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)

Economic aid - recipient:

$NA

Debt - external:

$18 billion (2000 est.)

Market value of publicly traded shares:

$NA

Currency (code):

euro (EUR)

Currency code: