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    Monaco Economy - 2004
    https://immigration-usa.com/wfb2004/monaco/monaco_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      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. Monaco does not publish national income figures; the estimates below are extremely rough.

      GDP:
      purchasing power parity - $870 million (1999 est.)

      GDP - real growth rate:
      NA%

      GDP - per capita:
      purchasing power parity - $27,000 (1999 est.)

      GDP - composition by sector:
      agriculture: NA%
      industry: NA%
      services: NA% (2001 est.)

      Population below poverty line:
      NA%

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

      Inflation rate (consumer prices):
      NA%

      Labor force:
      30,540 (January 1994)

      Unemployment rate:
      3.1% (1998)

      Budget:
      revenues: $518 million
      expenditures: $531 million, including capital expenditures of $NA (1995)

      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

      Agriculture - products:
      none

      Exports:
      $NA; full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

      Imports:
      $NA; full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

      Debt - external:
      $NA

      Economic aid - recipient:
      $NA

      Currency:
      euro (EUR)

      Currency code:
      EUR

      Exchange rates:
      euros per US dollar - 0.8860 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999)

      Fiscal year:
      calendar year


      NOTE: The information regarding Monaco on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Monaco Economy 2004 information contained here. All suggestions for corrections of any errors about Monaco Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/monaco/monaco_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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