Economy of Monaco

Mother Earth Travel > Country Index > Monaco > Map Economy

Economy - overview: Monaco, situated on the French Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. 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 does not publish national income figures; the estimates below are extremely rough.

GDP: purchasing power parity - $870 million (1999 est.)
GDP - per capita: purchasing power parity - $27,000 (1999 est.)
Labor force: 30,540 (January 1994)
Unemployment rate: 3.1% (1998)
Budget:
revenues: $518 million
expenditures: $531 million (1995)
Industries: tourism, construction, small-scale industrial and consumer products
Electricity - production by source: electricity supplied by France
Agriculture - products: none
Exports and Imports: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France.
Currency: euro (EUR)

SOURCE: The World Factbook

Mother Earth Travel > Country Index > Monaco > Map Economy