Economy Of Monaco

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 (2000 est.)
GDP - real growth rate	NA (2000 est.)
GDP - per capita	purchasing power parity - $27,000 (2000 est.)
GDP - composition by sector	agriculture: NA industry: NA services: NA (2001 est.)
Investment gross fixed
Population below poverty line	NA
Household income or consumption by percentage share	lowest 10%: NA highest 10%: NA
Distribution of family income - Gini index
Inflation rate consumer prices	NA (2000)
Labor force	30,540 (January 1994)
Labor force by occupation
Unemployment rate	3.1% (1999)
Budget	revenues: $518 million expenditures: $531 million, including capital expenditures of NA (1995)
Public debt
Agriculture products	none
Industries	tourism, construction, small-scale industrial and consumer products
Industrial production growth rate	NA
Electricity production
Electricity production by source
Electricity consumption	NA kWh
Electricity exports
Electricity imports	NA kWh note: electricity supplied by France
Oil production
Oil consumption
Oil exports
Oil imports
Oil proved reserves
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves
Current account balance
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
Exports commodities
Exports partners
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
Imports commodities
Imports partners
Reserves of foreign exchange gold
Debt external	NA (2000 est.)
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

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This information was reproduced in part from the CIA World Fact book.

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