Monaco

Monaco : economy statistics and industry reports

  • Updated on : 27 August 2012  Source : The World Factbook

Imports

$882.6 million (2010)
$916.1 million (2005)
note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

Exports

$711 million (2010)
$716.3 million (2005)
note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

Inflation rate (consumer prices)

1.5% (2010)

Unemployment rate

0% (2005)

GDP - per capita (PPP)

$NA (2010)
$63,400 (2009 est.)
$71,600 (2008 est.)

National product real growth rate

NA% (2000 est.)

Internet users

23,000 (2009)

Telephones - mobile cellular

26,300 (2009)

Population growth rate

-0.066% (2012 est.)

Population

30,510 (July 2012 est.)

Historical background

The Genoese built a fortress on the site of present day Monaco in 1215.

The current ruling Grimaldi family first seized temporary control in 1297, and again in 1331, but were not able to permanently secure their holding until 1419.

Economic development was spurred in the late 19th century with a railroad linkup to France and the opening of a casino.

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Monaco

Economic 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.

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