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Economy
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Mongolia

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Geography ::Monaco

Location:

Field info displayed for all countries in alpha order.

Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy

Geographic coordinates:

43 44 N, 7 24 E

Map references:

Europe

Area:

total: 2 sq km

country comparison to the world: 250

land: 2 sq km

water: 0 sq km

Area - comparative:

about three times the size of The Mall in Washington, DC

Land boundaries:

total: 4.4 km

border countries: France 4.4 km

Coastline:

4.1 km

Maritime claims:

territorial sea: 12 nm

exclusive economic zone: 12 nm

Climate:

Mediterranean with mild, wet winters and hot, dry summers

Terrain:

hilly, rugged, rocky

Elevation extremes:

lowest point: Mediterranean Sea 0 m

highest point: Mont Agel 140 m

Natural resources:

none

Land use:

arable land:

permanent crops: 1%

other: 100% (urban area) (2011)

Irrigated land:

Natural hazards:

Environment - current issues:

Environment - international agreements:

party to: Air Pollution, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling

signed, but not ratified: none of the selected agreements

Geography - note:

second-smallest independent state in the world (after Holy See); almost entirely urban

People and Society ::Monaco

Nationality:

noun: Monegasque(s) or Monacan(s)

adjective: Monegasque or Monacan

Ethnic groups:

French 47%, Monegasque 16%, Italian 16%, other 21%

Languages:

French (official), English, Italian, Monegasque

Religions:

Roman Catholic 90% (official), other 10%

Population:

30,500 (July 2013 est.)

country comparison to the world: 217

Age structure:

0-14 years: 11.9% (male 1,856/female 1,782)

15-24 years: 9.4% (male 1,479/female 1,384)

25-54 years: 35.6% (male 5,387/female 5,456)

55-64 years: 14.4% (male 2,217/female 2,172)

65 years and over: 28.7% (male 3,913/female 4,854) (2013 est.)

population pyramid:

Median age:

total: 49.9 years

male: 48.9 years

female: 51 years (2012 est.)

Population growth rate:

-0.066% (2012 est.)

country comparison to the world: 196

Birth rate:

6.85 births/1,000 population (2012 est.)

country comparison to the world: 222

Death rate:

8.52 deaths/1,000 population (July 2012 est.)

country comparison to the world: 80

Net migration rate:

1.02 migrant(s)/1,000 population (2012 est.)

country comparison to the world: 52

Urbanization:

urban population: 100% of total population (2010)

rate of urbanization: 0.3% annual rate of change (2010-15 est.)

Sex ratio:

at birth: 1.04 male(s)/female

under 15 years: 1.05 male(s)/female

15-64 years: 1 male(s)/female

65 years and over: 0.81 male(s)/female

total population: 0.95 male(s)/female (2011 est.)

Infant mortality rate:

total: 1.8 deaths/1,000 live births

country comparison to the world: 223

male: 2.04 deaths/1,000 live births

female: 1.55 deaths/1,000 live births (2012 est.)

Life expectancy at birth:

total population: 89.68 years

country comparison to the world: 1

male: 85.74 years

female: 93.77 years (2012 est.)

Total fertility rate:

1.51 children born/woman (2013 est.)

country comparison to the world: 188

Health expenditures:

4.3% of GDP (2010)

country comparison to the world: 161

Sanitation facility access:

improved:

urban: 100% of population

total: 100% of population (2010 est.)

HIV/AIDS - adult prevalence rate:

HIV/AIDS - people living with HIV/AIDS:

HIV/AIDS - deaths:

Education expenditures:

1.2% of GDP (2009)

country comparison to the world: 170

Literacy:

definition: age 15 and over can read and write

total population: 99%

male: 99%

female: 99% (2003 est.)

School life expectancy (primary to tertiary education):

total: 18 years

male: 18 years

female: 17 years (2009)

Unemployment, youth ages 15-24:

total: 6.9%

country comparison to the world: 125

male: 6.6%

female: 7.4% (2000)

Government ::Monaco

Country name:

conventional long form: Principality of Monaco

conventional short form: Monaco

local long form: Principaute de Monaco

local short form: Monaco

Government type:

constitutional monarchy

Capital:

name: Monaco

geographic coordinates: 43 44 N, 7 25 E

time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)

daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October

Administrative divisions:

none; there are no first-order administrative divisions as defined by the US Government, but there are four quarters (quartiers, singular - quartier); Fontvieille, La Condamine, Monaco-Ville, Monte-Carlo; note - Moneghetti, a part of La Condamine, is sometimes called the 5th quarter of Monaco

Independence:

1419 (beginning of permanent rule by the House of GRIMALDI)

National holiday:

National Day (Saint Rainier's Day), 19 November (1857)

Constitution:

17 December 1962; modified 2 April 2002

Legal system:

civil law system influenced by French legal tradition

International law organization participation:

has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt

Suffrage:

18 years of age; universal

Executive branch:

chief of state: Prince ALBERT II (since 6 April 2005)

head of government: Minister of State Michel ROGER (since 29 March 2010)

cabinet: Council of Government under the authority of the monarch

(For more information visit the World Leaders website Opens in New Window

)

elections: the monarchy is hereditary; minister of state appointed by the monarch from a list of three French national candidates presented by the French Government

Legislative branch:

unicameral National Council or Conseil National (24 seats; 16 members elected by list majority system, 8 by proportional representation to serve five-year terms)

elections: last held on 10 February 2013 (next to be held in February 2018)

election results: percent of vote by party - Horizon Monaco 50.3%, Union Monegasque 39%, Renaissance 10.7%; seats by party - Horizon Monaco 20, Union Monegasque 3, Renaissance 1

Judicial branch:

Supreme Court or Tribunal Supreme (judges appointed by the monarch on the basis of nominations by the National Council)

Political parties and leaders:

Horizon Monaco [Laurent NOUVION]; Renaissance [SBM (corporation)]; Union Monegasque [Stephane VALERI]

Political pressure groups and leaders:

International organization participation:

CD, CE, FAO, IAEA, ICAO, ICC (national committees), ICRM, IFRCS, IHO, IMO, IMSO, Interpol, IOC, IPU, ITSO, ITU, OAS (observer), OIF, OPCW, OSCE, Schengen Convention (de facto member), UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WHO, WIPO, WMO

Diplomatic representation in the US:

chief of mission: Ambassador Gilles NOGHES

chancery: 3400 International Drive NW, Suite 2K-100, Washington, DC 20008

telephone: (202) 234-1530

FAX: (202) 244-7656

consulate(s) general: New York

Diplomatic representation from the US:

the US does not have an embassy in Monaco; the US Ambassador to France is accredited to Monaco; the US Consul General in Marseille (France), under the authority of the US ambassador to France, handles routine diplomatic and consular matters concerning Monaco

Flag description:

two equal horizontal bands of red (top) and white; the colors are those of the ruling House of Grimaldi and have been in use since 1339, making the flag one of the world's oldest national banners

note: similar to the flag of Indonesia which is longer and the flag of Poland which is white (top) and red

National anthem:

name: "A Marcia de Muneghu" (The March of Monaco)

lyrics/music: Louis NOTARI/Charles ALBRECHT

note: music adopted 1867, lyrics adopted 1931; although French is much more commonly spoken, only the Monegasque lyrics are official; the French version is known as "Hymne Monegasque" (Monegasque Anthem); the words are generally only sung on official occasions

Economy ::Monaco

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 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. Monaco, however, is not a tax-free shelter; it charges nearly 20% value-added tax, collects stamp duties, and companies face a 33% tax on profits unless they can show that three-quarters of profits are generated within the principality. Monaco's reliance on tourism and banking for its economic growth has left it vulnerable to a downturn in France and other European economies which are the principality's main trade partners. In 2009, Monaco's GDP fell by 11.5% as the euro-zone crisis precipitated a sharp drop in tourism and retail activity and home sales. A modest recovery ensued in 2010 with GDP growth of 2.5%, but Monaco's economic prospects remain clouded in uncertainty tied to future euro-zone growth. Weak economic growth also has deteriorated public finances as the principality recorded a budget deficit of 1.3% of GDP in 2012. Monaco was formally removed from the OECD's "grey list" of uncooperative tax jurisdictions in late 2009, but continues to face international pressure to abandon its banking secrecy laws and help combat tax evasion. 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):

$5.748 billion (2011 est.)

country comparison to the world: 166

$5.47 billion (2010 est.)

$5.337 billion (2009 est.)

note: data are in 2012 US dollars

GDP (official exchange rate):

$5.748 billion (2011 est.)

GDP - real growth rate:

2.5% (2010 est.)

country comparison to the world: 126

-11.5% (2009)

GDP - per capita (PPP):

$NA $70,700 (2011)

country comparison to the world: 6

$63,500 (2009 est.)

$71,700 (2008 est.)

GDP - composition by sector:

agriculture: 0%

industry: 10%

services: 90% (2011)

Labor force:

50,580

country comparison to the world: 191

note: includes workers from all foreign countries (2011 est.)

Unemployment rate:

0% (2011)

country comparison to the world: 2

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%

highest 10%: NA%

Budget:

revenues: $1.126 billion

expenditures: $1.198 billion (2011 est.)

Taxes and other revenues:

19.6% of GDP (2011 est.)

country comparison to the world: 165

Budget surplus (+) or deficit (-):

-1.3% of GDP (2011 est.)

country comparison to the world: 65

Inflation rate (consumer prices):

1.5% (2010)

country comparison to the world: 25

Market value of publicly traded shares:

$NA

Agriculture - products:

none

Industries:

tourism, construction, small-scale industrial and consumer products

Industrial production growth rate:

NA%

Exports:

$865.6 million (2011)

country comparison to the world: 161

$684.9 million (2010)

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:

$848.9 million (2011)

country comparison to the world: 181

$850.2 million (2010)

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:

$NA

Exchange rates:

euros (EUR) per US dollar -

0.7838 (2012 est.)

0.7185 (2011 est.)

0.755 (2010 est.)

0.7198 (2009 est.)

0.6827 (2008 est.)

Fiscal year:

calendar year

No Energy details are found.

Communications ::Monaco

Telephones - main lines in use:

44,500 (2011)

country comparison to the world: 166

Telephones - mobile cellular:

31,800 (2011)

country comparison to the world: 206

Telephone system:

general assessment: modern automatic telephone system; the country's sole fixed line operator offers a full range of services to residential and business customers

domestic: combined fixed-line and mobile-cellular teledensity exceeds 200 per 100 persons

international: country code - 377; no satellite earth stations; connected by cable into the French communications system (2011)

Broadcast media:

TV Monte-Carlo (TMC) operates a TV network; cable TV available; Radio Monte-Carlo has extensive radio networks in France and Italy with French-language broadcasts to France beginning in the 1960s and Italian-language broadcasts to Italy beginning in the 1970s; other radio stations include Riviera Radio and Radio Monaco (2012)

Internet country code:

.mc

Internet hosts:

26,009 (2012)

country comparison to the world: 111

Internet users:

23,000 (2009)

country comparison to the world: 191

Transportation ::Monaco

Heliports:

1 (2012)

Roadways:

total: 77 km

country comparison to the world: 217

paved: 77 km (2007)

Merchant marine:

registered in other countries: 64 (Bahamas 8, Bermuda 2, Liberia 8, Malta 3, Marshall Islands 30, Panama 11, Saint Vincent and the Grenadines 2) (2010)

country comparison to the world: 63

Ports and terminals:

Monaco