Monaco Business Resources

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.

Airports
Airports in Europe
Airports Worldwide

Currency (code)
euro (EUR)

Currency Exchange Rate
euros per US dollar - 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000)

Fiscal Year
calendar year

GDP (Gross Domestic Product)
GDP (purchasing power parity): $870 million (2000 est.)
GDP - real growth rate: 0.9% (2000 est.)
GDP - per capita: purchasing power parity - $27,000 (2000 est.)
GDP - composition by sector:
agriculture: 17%
industry: NA%
services: NA% (2001 est.)

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

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

Industries
tourism, construction, small-scale industrial and consumer products

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force: 30,540 (January 1994)
Unemployment rate: 22% (1999)