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Background: Economic development was spurred in the late 19th century with a railroad linkup to France and the opening of a casino. Since then, the principality’s mild climate, splendid scenery, and gambling facilities have made Monaco world famous as a tourist and recreation center.
Government type: constitutional monarchy
Capital: Monaco
Currency: euro (EUR)

Geography of Monaco 

Location: Western Europe, bordering the Mediterranean Sea, on the southern coast of France, near the border with Italy
Geographic coordinates: 43 44 N, 7 24 E
total: 1.95 sq km
land: 1.95 sq km
water: 0 sq km
Land boundaries:
total: 4.4 km
border countries: France 4.4 km
Coastline: 4.1 km
Maritime claims:
territorial sea: 12 nm
Climate: Mediterranean with mild, wet winters and hot, dry summers
Terrain: hilly, rugged, rocky
Elevation extremes:
lowest point: Mediterranean Sea 0 m
highest point: Mont Agel 140 m
Natural resources: none
Land use:
arable land: 0%
permanent crops: 0%
permanent pastures: 0%
forests and woodland: 0%
other: 100% (urban area)
Environment – international agreements:
party to:  Air Pollution, Biodiversity, Climate Change, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling
signed, but not ratified: Climate Change-Kyoto Protocol
Geography – note: second smallest independent state in world (after Holy See); almost entirely urban

People of Monaco 

Population: 32,409 (July 2005 est.)
Age structure:
0-14 years:  15.32%
15-64 years:  62.23% 
65 years and over:  22.45% 
Population growth rate: 0.46% 
Birth rate: 9.74 births/1,000 population 
Death rate: 13 deaths/1,000 population 
Net migration rate: 7.85 migrant(s)/1,000 population 
Infant mortality rate: 5.83 deaths/1,000 live births 
Life expectancy at birth:
total population:  78.98 years
male:  75.04 years
female:  83.12 years
Total fertility rate: 1.76 children born/woman 
noun: Monegasque(s) or Monacan(s)
adjective: Monegasque or Monacan
Ethnic groups: French 47%, Monegasque 16%, Italian 16%, other 21%
Religions: Roman Catholic 90%
Languages: French (official), English, Italian, Monegasque
Literacy: total population: 99%

Monaco 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)
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)

Map of Monaco