| Economy - overview | Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. In 2001, a major construction project extended 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. |
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| GDP - real growth rate | 0.9% (2000 est.) |
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| GDP - composition by sector | agriculture: 0%
industry: 4.9%
services: 95.1% (2005) |
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| Population below poverty line | NA% |
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Household income or consumption
by percentage share | lowest 10%: NA%
highest 10%: NA% |
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| Labor force | 44,000
note: includes workers from all foreign countries (2005 est.) |
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| Unemployment rate | 0% (2005) |
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| Budget | revenues: $863 million
expenditures: $920.6 million; including capital expenditures of $305 million (2005 est.) |
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| Industries | tourism, construction, small-scale industrial and consumer products |
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| Industrial production growth rate | NA% |
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Electricity -
consumption | NA kWh |
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Electricity -
imports | NA kWh; note - electricity supplied by France |
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| Agriculture - products | none |
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| 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) |
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| 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) |
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| Debt - external | $18 billion (2000 est.) |
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| Economic aid - recipient | $NA |
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| Currency code | EUR |
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| Exchange rates | euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002) |
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| Fiscal year | calendar year |
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