ÿþ<html> <head> <title> Monaco Economy 2013, CIA World Factbook </title> <META NAME="Description" CONTENT="Monaco Economy 2013, CIA World Factbook"> <META NAME="keywords" CONTENT="Monaco, Economy, 2013, CIA, World, Factbook"> <script language="JavaScript"> function AddToFaves_hp(){ var is_4up = parseInt(navigator.appVersion); var is_mac = navigator.userAgent.toLowerCase().indexOf("mac")!=-1; var is_ie = navigator.userAgent.toLowerCase().indexOf("msie")!=-1; var thePage = location.href; if (thePage.lastIndexOf('#')!=-1) thePage = thePage.substring(0,thePage.lastIndexOf('#')); if (is_ie && is_4up && !is_mac) window.external.AddFavorite(thePage,document.title); else if (is_ie || document.images) booker_hp = window.open(thePage,'booker_','menubar,width=325,height=100,left=140,top=60'); //booker_hp.focus(); } //--> </script> <script type="text/javascript"> (function() { var po = document.createElement('script'); po.type = 'text/javascript'; po.async = true; po.src = 'https://apis.google.com/js/plusone.js'; 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//728x90, created 1/28/08 google_ad_slot = "6589376789"; google_ad_width = 728; google_ad_height = 90; //--></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td></tr> <tr height="3" align="left" valign="top" bgcolor="white" nowrap units="pixels"><td colspan="2" align="left" valign="top" height="3" width="972" nowrap bgcolor="white" nowrap> <img src="http://www.theodora.com/wfb2008/images/line1.gif"></td></tr> <tr><td colspan="2" align="middle" background="http://www.theodora.com/wfb2008/images/light_blue.gif" width="972"> <font size="-2"> <br></font> <font face="arial" size="5"><b>Monaco</b> Economy 2013</font> <br> <font size = "-2"> http://www.theodora.com/wfbcurrent/monaco/monaco_economy.html </font> <br> <font size="-2"><B>SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES</B></FONT></td></tr> <tr height="3" align="left" valign="top" bgcolor="white" nowrap units="pixels"> <td colspan="2" align="left" valign="top" height="3" width="972" nowrap bgcolor="white" nowrap> <img src="http://www.theodora.com/wfb2008/images/line13.gif"></td></tr></table> <table border="0" bgcolor="#FFCC99" cellspacing="0" cellpadding="0" width="972" align="left" valign="top" hspace="0" vspace="0" units="pixels"> <tr><td background="http://www.theodora.com/wfb2008/images/light_blue.gif" width="200" valign="top"> <font face="arial"> <br><br> <center> <script type="text/javascript"><!-- google_ad_client = "pub-7437757543052749"; 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/* WFB Medium Rectangle */ google_ad_slot = "5200087626"; google_ad_width = 300; google_ad_height = 250; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <br> Page last updated on February 20, 2013 <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#economy_overview">Economy - overview:</a></b><br> Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a 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. Monaco, however, is not a tax-free shelter; it charges nearly 20% value-added tax, collects stamp duties, and companies face a 33% tax on profits unless they can show that three-quarters of profits are generated within the principality. Monaco's reliance on tourism and banking for its economic growth has left it vulnerable to a downturn in France and other European economies which are the principality's main trade partners. In 2009, Monaco's GDP fell by 11.5% as the euro-zone crisis precipitated a sharp drop in tourism and retail activity and home sales. A modest recovery ensued in 2010 with GDP growth of 2.5%, but Monaco's economic prospects remain clouded in uncertainty tied to future euro-zone growth. Weak economic growth also has deteriorated public finances as the principality recorded a budget deficit of 1.9% of GDP in 2010. Monaco was formally removed from the OECD's "grey list" of uncooperative tax jurisdictions in late 2009, but continues to face international pressure to abandon its banking secrecy laws and help combat tax evasion. 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. <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#GDP">GDP</a> (purchasing power parity):</b><br> $5.47 billion (2010 est.) <br><span style="padding-left:7px;">country comparison to the world: 166 <div class="category_data" style="padding-top: 3px;">$5.337 billion (2009 est.) <div class="category_data" style="padding-top: 3px;">$6.03 billion (2008 est.) <br><i> <em>note:</em> </i>data are in 2012 US dollars <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_purchasing_power_parity_2013_0.html" target="_blank"><u>GDP country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_official_exchange_rate">GDP (official exchange rate):</a></b><br> $5.47 billion (2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_official_exchange_rate_2013_0.html" target="_blank"><u>GDP (official exchange rate) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_real_growth_rate">GDP - real growth rate:</a></b><br> 2.5% (2010 est.) <br><span style="padding-left:7px;">country comparison to the world: 130 <div class="category_data" style="padding-top: 3px;">-11.5% (2009) <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_real_growth_rate_2013_0.html" target="_blank"><u>GDP - real growth rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_per_capita">GDP - per capita:</a></b><br> $NA (2010) <div class="category_data" style="padding-top: 3px;">$63,400 (2009 est.) <div class="category_data" style="padding-top: 3px;">$71,600 (2008 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_per_capita_2013_0.html" target="_blank"><u>GDP - per capita country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_composition_by_sector">GDP - composition by sector:</a></b><br> <i>agriculture: </i>0% <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_composition_by_sector_agriculture_2013_0.html" target="_blank"><u>GDP - composition by sector - agriculture country ranks</u></a> ] <br><i> industry: </i>4.9% <br><i> services: </i>95.1% (2005) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#labor_force">Labor force:</a></b><br> 49,300 <br><span style="padding-left:7px;">country comparison to the world: 192 <br><i> <em>note:</em> </i>includes workers from all foreign countries (2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/labor_force_2013_0.html" target="_blank"><u>Labor force country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#unemployment_rate">Unemployment rate:</a></b><br> 0% (2005) <br><span style="padding-left:7px;">country comparison to the world: 1 <br>[see also: <a href="http://www.photius.com/rankings/economy/unemployment_rate_2013_0.html" target="_blank"><u>Unemployment rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#population_below_poverty_line">Population below poverty line:</a></b><br> NA% <br>[see also: <a href="http://www.photius.com/rankings/economy/population_below_poverty_line_2013_0.html" target="_blank"><u>Population below poverty line country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#household_income_or_consumption_by_percentage_share">Household income or consumption by percentage share:</a></b><br> <i>lowest 10%: </i>NA% <br>[see also: <a href="http://www.photius.com/rankings/economy/household_income_or_consumption_by_percentage_share_lowest_10pct_2013_0.html" target="_blank"><u>Household income or consumption by percentage share - lowest 10% country ranks</u></a> ] <br><i> highest 10%: </i>NA% <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#budget">Budget:</a></b><br> <i>revenues: </i>$1.007 billion <br>[see also: <a href="http://www.photius.com/rankings/economy/budget_revenues_2013_0.html" target="_blank"><u>Budget revenues country ranks</u></a> ] <br><i> expenditures: </i>$1.11 billion (2010 est.) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#taxes_and_other_revenues">Taxes and other revenues:</a></b><br> 18.4% of GDP (2010 est.) <br><span style="padding-left:7px;">country comparison to the world: 170 <br>[see also: <a href="http://www.photius.com/rankings/economy/taxes_and_other_revenues_2013_0.html" target="_blank"><u>Taxes and other revenues country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#budget_surplus_or_deficit">Budget surplus (+) or deficit (-):</a></b><br> -1.9% of GDP (2010 est.) <br><span style="padding-left:7px;">country comparison to the world: 74 <br>[see also: <a href="http://www.photius.com/rankings/economy/budget_surplus_or_deficit_2013_0.html" target="_blank"><u>Budget surplus (+) or deficit (-) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#inflation_rate_consumer_prices">Inflation rate (consumer prices):</a></b><br> 1.5% (2010) <br><span style="padding-left:7px;">country comparison to the world: 22 <br>[see also: <a href="http://www.photius.com/rankings/economy/inflation_rate_2013_0.html" target="_blank"><u>Inflation rate (consumer prices) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#market_value_of_publicly">Market value of publicly traded shares:</a></b><br> $NA <br>[see also: <a href="http://www.photius.com/rankings/economy/market_value_of_publicly_traded_shares_2013_0.html" target="_blank"><u>Market value of publicly traded shares country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#agriculture_products">Agriculture - products:</a></b><br> none <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#industries">Industries:</a></b><br> tourism, construction, small-scale industrial and consumer products <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#industrial_production_growth_rate">Industrial production growth rate:</a></b><br> NA% <br>[see also: <a href="http://www.photius.com/rankings/economy/industrial_production_growth_rate_2013_0.html" target="_blank"><u>Industrial production growth rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exports">Exports:</a></b><br> $711 million (2010) <br><span style="padding-left:7px;">country comparison to the world: 166 <div class="category_data" style="padding-top: 3px;">$716.3 million (2005) <br><i> <em>note:</em> </i>full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France <br>[see also: <a href="http://www.photius.com/rankings/economy/exports_2013_0.html" target="_blank"><u>Exports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#imports">Imports:</a></b><br> $882.6 million (2010) <br><span style="padding-left:7px;">country comparison to the world: 180 <div class="category_data" style="padding-top: 3px;">$916.1 million (2005) <br><i> <em>note:</em> </i>full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France <br>[see also: <a href="http://www.photius.com/rankings/economy/imports_2013_0.html" target="_blank"><u>Imports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#debt_external">Debt - external:</a></b><br> $NA <br>[see also: <a href="http://www.photius.com/rankings/economy/debt_external_2013_0.html" target="_blank"><u>Debt - external country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exchange_rates">Exchange rates:</a></b><br> euros (EUR) per US dollar - <div class="category_data" style="padding-top: 3px;">0.7838 (2012 est.) <div class="category_data" style="padding-top: 3px;">0.7185 (2011 est.) <div class="category_data" style="padding-top: 3px;">0.755 (2010 est.) <div class="category_data" style="padding-top: 3px;">0.7198 (2009 est.) <div class="category_data" style="padding-top: 3px;">0.6827 (2008 est.) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#fiscal_year">Fiscal year:</a></b><br> calendar year </font> <p> <p> <BR> <P> <font size = "-2"><B> NOTE: The information regarding Monaco on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Monaco Economy 2013 information contained here. All suggestions for corrections of any errors about Monaco Economy 2013 should be addressed to the CIA. </B></font> </P> <br> <hr> <a href="#" onClick="AddToFaves_hp()"><img src="http://www.theodora.com/images/bookmark_banner.gif" align="left" width="176" height="52" border="0"></a><font color=brown> - Please bookmark this page (add it to your favorites). <br> - If you wish to <b>link</b> to this page, you can do so by referring to the URL address below this line.</font> <hr> http://www.theodora.com/wfbcurrent/monaco/monaco_economy.html <br><br> This page was last modified 11-Mar-13 <br> Copyright &copy 1995-2013 <a href="http://www.theodora.com/ita.html">ITA</a> all rights reserved. <br> </td> <td width=200 valign="top" align="left" background="http://www.theodora.com/wfb2008/images/light_blue.gif"> <!-- SiteSearch Google --> <br> <form action="http://www.google.com/cse" id="cse-search-box"> <div> <input type="hidden" name="cx" value="partner-pub-7437757543052749:i8v5yg-obf2" /> <input type="hidden" name="ie" value="ISO-8859-1" /> <input type="text" name="q" size="26" /> <input type="submit" name="sa" value="Search" /> </div> </form> <script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script> <!-- End SiteSearch Google --> <font size="2" face="arial"> <b> <ul> <li><a href="http://www.theodora.com/wfb">|Main INDEX|</a> <li><a href="../index.html">2013 INDEX</a> <li><a href="http://www.photius.com/rankings/index.html">Country Ranks</a> <li><a href="http://www.theodora.com/wfb/wfb2000/definitions.html">DEFINITIONS</a> <br><br> <a href="index.html">Monaco Index 2013</a> <br><br> <a href="http://www.theodora.com/wfbcurrent/monaco/index.html">Monaco Main Index</a> <li><a href="monaco_introduction.html">Introduction</a> <li><a href="http://workmall.com/wfb2001/monaco/monaco_history.html">History</a> <li><a href="monaco_geography.html">Geography</a> <li>&nbsp;&nbsp;<a href="http://www.theodora.com/maps">Maps</a><br> </b> &nbsp;&nbsp;<a href="http://www.photius.com/religion">Religion</a> <b><li><a href="monaco_government.html">Government</a><br></B> &nbsp;&nbsp;<a href="monaco_chiefs.html"> Gov. 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