Monaco

Economy - overview:
Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a major banking center and 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 (2006 est.)
note: Monaco does not publish national income figures; the estimates are extremely rough
GDP (official exchange rate):
$NA
GDP - real growth rate:
0.9% (2000 est.)
GDP - per capita (PPP):
$30,000 (2006 est.)
GDP - composition by sector:
agriculture: 0%
industry: 4.9%
services: 95.1% (2005)
Labor force:
44,000
note: includes workers from all foreign countries (2005 est.)
Unemployment rate:
0% (2005)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Budget:
revenues: $863 million
expenditures: $920.6 million (2005 est.)
Inflation rate (consumer prices):
1.9% (2000)
Market value of publicly traded shares:
$NA
Agriculture - products:
none
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
Exports:
$716.3 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)
Imports:
$916.1 million f.o.b.
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.)
Exchange rates:
euros (EUR) per US dollar - 0.6827 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004)