Monaco - Economy

People	Monaco
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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 note: Monaco does not publish national income figures; the estimates are extremely rough (2006 est.)
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)
Investment (gross fixed):	void
Population below poverty line:	NA%
Household income or consumption by percentage share:	lowest 10%: NA% highest 10%: NA%
Distribution of family income - Gini index:	void
Inflation rate (consumer prices):	1.9% (2000)
Labor force:	44,000 note: includes workers from all foreign countries (2005 est.)
Labor force participation rate:	134.16 % of population
Labor force - by occupation:	void
Unemployment rate:	0% (2005)
Budget:	revenues: $863 million expenditures: $920.6 million (2005 est.)
Budget revenues per capita:	26,315 USD per capita
Public debt:	void
Industries:	tourism, construction, small-scale industrial and consumer products
Industrial production growth rate:	NA%
Electricity - production:	void
Electricity - production per capita:	void
Electricity - consumption:	NA kWh
Electricity - consumption - per capita:	void
Electricity - exports:	void
Electricity - imports:	NA kWh; note - electricity supplied by France
Oil - production:	void
Oil - production per capita:	void
Oil - consumption:	void
Oil - consumption - per capita:	void
Oil - exports:	void
Oil - imports:	void
Oil - proved reserves:	void
Natural gas - production:	void
Natural gas - production per capita:	void
Natural gas - consumption:	void
Natural gas - consumption - per capita:	void
Natural gas - exports:	void
Natural gas - imports:	void
Natural gas - proved reserves:	void
Agriculture - products:	none
Current account balance:	void
Current account balance - per capita:	void
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)
Exports per capita:	21,842 USD per capita
Exports - commodities:	void
Exports - partners:	void
Imports:	$916.1 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 per capita:	27,934 USD per capita
Imports - commodities:	void
Imports - partners:	void
Reserves of foreign exchange and gold:	void
Reserves of foreign exchange and gold - per capita:	void
Debt - external:	$18 billion (2000 est.)
Debt - external - per capita:	548,848 USD per capita
Stock of direct foreign investment - at home:	void
Stock of direct foreign investment - abroad:	void
Market value of publicly traded shares:	$NA
Economic aid - donor:	void
Economic aid - recipient:	$NA
Economic aid - recipient per capita:	void
Currency (code):	euro (EUR)
Exchange rates:	euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Fiscal year:	calendar year

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This page was last updated on 5 May, 2008

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