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Monaco Economy 2007
https://allcountries.org/wfb2007/monaco/monaco_economy.html
SOURCE: 2007 CIA WORLD FACTBOOK

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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. In 2001, a major construction project extended the pier used by cruise ships in the main harbor. 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.

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)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
1.9% (2000)

Budget:
revenues: $863 million
expenditures: $920.6 million (2005 est.)

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)

Economic aid - recipient:
$NA

Debt - external:
$18 billion (2000 est.)

Market value of publicly traded shares:
$NA

Currency (code):
euro (EUR)

Exchange rates:
euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002)

Fiscal year:
calendar year


NOTE: The information regarding Monaco on this page is re-published from the 2007 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Monaco Economy 2007 information contained here. All suggestions for corrections of any errors about Monaco Economy 2007 should be addressed to the CIA.



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This page was last modified 29-Sep-09
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