Monaco



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Monaco Economy 2008


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)
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)
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 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.)
Market value of publicly traded shares: $NA
Currency (code): euro (EUR)
Exchange rates: euros (EUR) per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)

NOTE: The economy information regarding Monaco on this page is re-published from the 2008 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Monaco Economy 2008 information contained here. All suggestions for corrections of any errors about Monaco Economy 2008 should be addressed to the CIA.