Europe > Monaco > Economy

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Agriculture > products none
Budget > Expenditures	$920,600,000.00		[129th of 165]
Budget > Revenues	$863,000,000.00		[128th of 166]
Debt > External	$18,000,000,000.00		[4th of 136]
Economy > 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. 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.
Exchange rates euros per US dollar - 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000)
Exports	$716,300,000.00		[140th of 189]
Exports to US	$3,500,000.00		[151st of 224]
GDP	$870,000,000.00		[160th of 203]
GDP (purchasing power parity)	$976,300,000.00		[178th of 187]
GDP > Composition by sector > Industry	4.9%		[136th of 146]
GDP > Real growth rate	0.9%		[4th of 198]
Imports	$916,100,000.00		[149th of 185]
Inflation rate (consumer prices)	1.9%		[6th of 192]
International tourism, number of arrivals	286,000		[103rd of 190]
Tourist arrivals	259,000		[91st of 152]
Tourist arrivals by region of origin > Africa	2,601		[87th of 142]
Tourist arrivals by region of origin > Europe	214,131		[90th of 195]
Trade balance with US	$1,000,000.00		[84th of 224]
Trade with US > US exports of textile, sewing machines	0		[168th of 183]

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