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MONACO
COUNTRIES A-Z
Monaco Economy
Country Name: Principality of Monaco
Capital City: Monaco
Population: 32,543 (2006)
Population Growth: 0.4% (2006)
Currency: Euro (EUR)
Languages: French
Area: 1.95 sq km
Inflation Rate: 1.9% (2000)
Unemployment Rate: 0% (2005)
Domain extension: .mc
ECONOMIC DETAILS OF MONACO
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.
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 - purchasing power parity:
$976.3 million
GDP - real growth rate:
0.9% (2000 est.)
GDP - per capita:
$30,000 (2006 est.)
GDP - by sector (agriculture):
agriculture: 0%
GDP - by sector (industry):
industry: 4.9%
GDP - by sector (services):
services: 95.1% (2005)
Export Partners:
#N/A
Import Partners:
#N/A
Export Commodities:
#N/A
Import Commodities:
#N/A
Exports Volume:
$716.3 million
Imports Volume:
$916.1 million
Labour Force:
44000
Unemployment Rate:
0% (2005)
Population below poverty line:
NA%
Inflation Rate:
1.9% (2000)
Investment (gross fixed):
Public Debt:
Agriculture Products:
none
Industries:
tourism, construction, small-scale industrial and consumer products
Industrial Production Growth Rate:
NA%
Electricity - production:
Electricity - consumption:
NA kWh
Electricity - exports:
Electricity - imports:
NA kWh; note - electricity supplied by France
Oil - production:
Oil - consumption:
Oil - exports:
Oil - imports:
Natural gas - production:
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Current Account Balance:
Currency Code:
euro (EUR)