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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: $870 million
note: Monaco does not publish national income figures; the estimates are
extremely rough (2000 est.)
GDP - real growth rate: 0.9% (2000 est.)
GDP - per capita: $27,000 (2000 est.)
GDP - composition by sector:
agriculture: 17%
industry: NA%
services: NA%
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Labor force: 41,110
note: includes workers from all foreign countries (2004)
Unemployment rate: 0% (2005)
Budget: revenues: $719.2 million
expenditures: $864.1 million; including capital expenditures of $283.1 million
(2004)
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
note: 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
note: 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: $18 billion (2000 est.)
Economic aid - recipient: $NA
Currency: euro (EUR)
Currency code: EUR
Exchange rates: euros per US dollar - 0.8041 (2005), 0.8054 (2004),
0.886 (2003), 1.0626 (2002), 1.1175 (2001)
Fiscal year: calendar year
This information comes from the CIA
World Factbook.
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