|
. .  
|
 
Monaco Economy 1999
Economy—overview: Monaco, situated on the French Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. 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. About 55% of Monaco's annual revenue comes from value-added taxes on hotels, banks, and the industrial sector. Living standards are high, roughly comparable to those in prosperous French metropolitan areas. GDP: purchasing power parity—$800 million (1996 est.) GDP—real growth rate: NA% GDP—per capita: purchasing power parity—$25,000 (1996 est.)
GDP—composition by sector:
Population below poverty line: NA%
Household income or consumption by percentage share:
Inflation rate (consumer prices): NA% Labor force: 30,540 (January 1994) Unemployment rate: 3.1% (1994)
Budget:
Industrial production growth rate: NA% Electricity—production: NA kWh
Electricity—production by source:
Electricity—consumption: NA kWh Electricity—exports: NA kWh Electricity—imports: NA kWh 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: 1 French franc (F) = 100 centimes Exchange rates: French francs (F) per US$1—5.65 (January 1999), 5.8995 (1998), 5.8367 (1997), 5.1155 (1996), 4.9915 (1995), 5.5520 (1994) Fiscal year: calendar year
|
|