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Economy of Monaco
Currency
Euro (EUR, €)
Fiscal year
calendar year
Trade organisations
EUCU
Country group
Developed/Advanced High-income economy[1]
Statistics
Population
39,150 (1 January 2021 est.)[2]
GDP
$7.97 billion (nominal, 2021)[3]
$7.672 billion (PPP, 2015 est.)[4]
GDP rank
145th (nominal, 2017)
158th (PPP, 2015)
GDP growth
4.9% (2015) 3.5% (2016)
−3.4% (2017) 6.1% (2018)[5]
GDP per capita
$185,741 (nominal, 2018)[6]
$115,700 (PPP, 2015 est.)[4]
GDP per capita rank
2nd (nominal, 2017)
3rd (PPP, 2015)
GDP by sector
agriculture: 0.4%
industry: 14.1%
services: 85.5%
(2021)[7]
All values, unless otherwise stated, are in US dollars.
The economy of Monaco is reliant on tourism and banking.[8] Monaco, situated on the French coast of the Mediterranean Sea, 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 gambling, tobacco, the telephone network, and the postal service.[9][citation needed]
Denture adhesion rings made in Monaco, early to mid 20th century
^"World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
^"Monaco Employment". monacostatistics.mc. Monaco Statistics. Retrieved 20 April 2023.
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Global Information
39,150 (1 January 2021 est.)[2]
