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World > Europe > Monaco > Economy (Notes)

Monaco - Economy (Notes)


ECONOMY
Monaco, located on the Mediterranean coast, has an economy primarily geared toward finance, commerce, and tourism. Low taxes have drawn many foreign companies to Monaco; the companies' production accounts for around 50% of the ?593 million annual government income (2002). The enterprises pay a 33.33% tax only if more than 25% of their revenue is generated abroad. Ever since Monaco's famed casino opened in 1856, the tourism industry has been booming. It currently accounts for close to 25% of the annual revenue.

Customs, postal services, telecommunications, and banking in Monaco are governed by an economic and customs union with France. The official currency is the euro.

Though official economic statistics are not published, 2006 estimates placed the gross domestic product at $976.3 million and the per capita income at $30,000. Monaco does not publish the figures for unemployment, but in 2005 the rate was estimated to be at 0%.

Monaco is noted for its activity in the field of marine sciences. Its Oceanographic Museum, formerly directed by Jacques Cousteau, is one of the most renowned institutions of its kind in the world. Monaco imports and exports products and services from all over the world. There is no commercial agriculture in Monaco.


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Current Time - Ranking Positions - Euro Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Current Time
Ranking Positions
Euro Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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