| 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. |
| GDP - real growth rate: |
0.9% (2000 est.) |
| 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 - per capita (PPP): |
$30,000 (2006 est.) |
| GDP - composition by sector: |
agriculture: 0%
industry: 4.9%
services: 95.1% (2005) |
| Population below poverty line: |
NA |
| Household income or consumption by percentage share: |
lowest 10%: NA
highest 10%: NA |
| Inflation rate (consumer prices): |
1.9% (2000) |
| Labor force: |
44,000
note: includes workers from all foreign countries (2005 est.) |
| Unemployment rate: |
0% (2005) |
| Budget: |
revenues: $863 million
expenditures: $920.6 million; including capital expenditures of $305 million (2005 est.) |
| 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 |
| Agriculture - products: |
none |
| Exports: |
$716.3 million
note: full customs integration with France, which collects and rebates Monegasque trade duties; also participate |
| 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) |
| Debt - external: |
$18 billion (2000 est.) |
| Economic aid - recipient: |
NA |
| Currency: |
Euro (EUR)
Current Euro Exchange Rates
Historical Euro Exchange Rates
Chart Euro Exchange Rates |
| Currency code: |
EUR |
| Exchange rates: |
euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002) |
| Fiscal year: |
calendar year |
