Monaco

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 users

total: 27,400 | percent of population: 89.9% (2014 est.) | country comparison to the world: 199

Radio broadcast stations

AM 1, FM 11, shortwave 1 (2008)

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)

Telephones - fixed lines

total subscriptions: 50,600 | subscriptions per 100 inhabitants: 166 (2014 est.) | country comparison to the world: 162

Telephones - mobile cellular

total: 33,700 | subscriptions per 100 inhabitants: 110 (2014 est.) | country comparison to the world: 207

Television broadcast stations

5 (1998)

Agriculture - products

none

Budget

revenues: $1.06 billion | expenditures: $1.128 billion (2011 est.)

Budget surplus (+) or deficit (-)

-1.1% of GDP (2011 est.) | country comparison to the world: 69

Debt - external

$NA

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 and intensified in 2013, with GDP growth of more than 9%, but Monaco's economic prospects remain uncertain, and tied to future euro-zone growth. 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. In October 2014, Monaco officially became the 84th jurisdiction participating in the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters, an effort to combat offshore tax avoidance and 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.

Exchange rates

euros (EUR) per US dollar - | 0.7489 (2014 est.) | 0.7634 (2013 est.) | 0.78 (2012 est.) | 0.7185 (2011 est.) | 0.755 (2010 est.)

Exports

$1.115 billion (2011) | $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 | country comparison to the world: 160

Exports - partners

Europe 73.2%, Africa 14.6%, America 5.2%, Asia 4.9% (2013 est.)

Fiscal year

calendar year

GDP (official exchange rate)

$6.063 billion (2013 est.)

GDP (purchasing power parity)

$6.79 billion (2013 est.) | $6.213 billion (2012 est.) | $5.748 billion (2011 est.) | note: data are in 2012 US dollars | country comparison to the world: 166

GDP - composition, by sector of origin

agriculture: 0% | industry: 14% | services: 86% (2013)

GDP - per capita (PPP)

$78,700 (2013 est.) | $73,200 (2012) | $72,600 (2011) | country comparison to the world: 9

GDP - real growth rate

9.3% (2013 est.) | 1.2% (2012) | 7% (2011) | country comparison to the world: 5

Household income or consumption by percentage share

lowest 10%: NA% | highest 10%: NA%

Imports

$1.162 billion (2011) | $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 | country comparison to the world: 176

Imports - partners

Europe 70.4%, Asia 20.8%, America 4.4%, Africa 4.1% (2013 est.)

Industrial production growth rate

20% (2013) | country comparison to the world: 2

Industries

banking, insurance, tourism, construction, small-scale industrial and consumer products

Inflation rate (consumer prices)

1.5% (2010) | country comparison to the world: 85

Labor force

52,000 | note: includes all foreign workers (2014 est.) | country comparison to the world: 191

Labor force - by occupation

agriculture: 0% | industry: 16.1% | services: 83.9% (2012 est.)

Market value of publicly traded shares

$NA

Population below poverty line

NA%

Taxes and other revenues

17.5% of GDP (2011 est.) | country comparison to the world: 179

Unemployment rate

2% (2012) | country comparison to the world: 14

Area

total: 2 sq km | land: 2 sq km | water: 0 sq km | country comparison to the world: 254

Area - comparative

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

Climate

Mediterranean with mild, wet winters and hot, dry summers

Coastline

4.1 km

Elevation extremes

lowest point: Mediterranean Sea 0 m | highest point: Mont Agel 140 m

Environment - current issues

NA

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

Geographic coordinates

43 44 N, 7 24 E

Geography - note

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

Irrigated land

NA

Land boundaries

total: 6 km | border countries (1): France 6 km

Land use

agricultural land: 1% | arable land 0%; permanent crops 1%; permanent pasture 0% | forest: 0% | other: 99% (2011 est.)

Location

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

Map references

Europe

Maritime claims

territorial sea: 12 nm | exclusive economic zone: 12 nm

Natural hazards

NA

Natural resources

none

Terrain

hilly, rugged, rocky

Administrative divisions

none; there are no first-order administrative divisions as defined by the US Government, but there are 4 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

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

Citizenship

citizenship by birth: no | citizenship by descent only: the father must be a citizen of Monaco; in the case of a child born out of wedlock, the mother must be a citizen and father unknown | dual citizenship recognized: no | residency requirement for naturalization: 10 years

Constitution

previous 1911 (suspended 1959); latest adopted 17 December 1962; amended 2002 (2015)

Country name

conventional long form: Principality of Monaco | conventional short form: Monaco | local long form: Principaute de Monaco | local short form: Monaco

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 diplomatic and consular matters concerning Monaco

Diplomatic representation in the US

chief of mission: Ambassador Maguy MACCARIO-DOYLE (since 3 December 2013) | chancery: 3400 International Drive NW, Suite 2K-100, Washington, DC 20008 | telephone: (202) 234-1530 | FAX: (202) 244-7656 | consulate(s) general: New York

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

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

Government type

constitutional monarchy

Independence

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

International law organization participation

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

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

Judicial branch

highest court(s): Supreme Court (consists of 5 permanent members and 2 substitutes) | judge selection and term of office: Supreme Court members appointed by the monarch upon the proposals of the National Council, State Council, Crown Council, Court of Appeal, and Trial Court | subordinate courts: Court of Appeal; Civil Court of First Instance

Legal system

civil law system influenced by French legal tradition

Legislative branch

description: unicameral National Council or Conseil National (24 seats; 16 members directly elected in multi-seat constituencies by simple majority vote and 8 directly elected by proportional representation vote; members serve 5-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

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 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

National holiday

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

National symbol(s)

red and white lozenges (diamond shapes); national colors: red, white

Political parties and leaders

Horizon Monaco [Laurent NOUVION] | Renaissance [SBM (public corporation)] | Union Monegasque [Jean-Francois ROBILLON]

Political pressure groups and leaders

NA

Suffrage

18 years of age; universal

Background

The Genoese built a fortress on the site of present day Monaco in 1215. The current ruling GRIMALDI family first seized temporary control in 1297, and again in 1331, but was not able to permanently secure its holding until 1419. Economic development was spurred in the late 19th century with a railroad linkup to France and the opening of a casino. Since then, the principality's mild climate, splendid scenery, and gambling facilities have made Monaco world famous as a tourist and recreation center.

Manpower available for military service

males age 16-49: 5,749 (2010 est.)

Manpower fit for military service

males age 16-49: 4,629 | females age 16-49: 4,597 (2010 est.)

Manpower reaching militarily significant age annually

male: 153 | female: 141 (2010 est.)

Military - note

defense is the responsibility of France

Military branches

no regular military forces; Directorate of Public Security (2012)

Age structure

0-14 years: 11.41% (male 1,793/female 1,692) | 15-24 years: 9.03% (male 1,420/female 1,337) | 25-54 years: 34.47% (male 5,239/female 5,286) | 55-64 years: 14.71% (male 2,255/female 2,238) | 65 years and over: 30.37% (male 4,146/female 5,129) (2015 est.)

Birth rate

6.65 births/1,000 population (2015 est.) | country comparison to the world: 224

Death rate

9.24 deaths/1,000 population (2015 est.) | country comparison to the world: 63

Drinking water source

urban: 100% of population | total: 100% of population | urban: 0% of population | total: 0% of population (2015 est.)

Education expenditures

1.6% of GDP (2011) | country comparison to the world: 169

Ethnic groups

French (official) 47%, Monegasque 16%, Italian 16%, other 21%

HIV/AIDS - adult prevalence rate

NA

HIV/AIDS - deaths

NA

HIV/AIDS - people living with HIV/AIDS

NA

Health expenditures

4% of GDP (2013) | country comparison to the world: 155

Hospital bed density

13.8 beds/1,000 population (2012)

Infant mortality rate

total: 1.82 deaths/1,000 live births | male: 2.06 deaths/1,000 live births | female: 1.57 deaths/1,000 live births (2015 est.) | country comparison to the world: 224

Languages

French (official), English, Italian, Monegasque

Life expectancy at birth

total population: 89.52 years | male: 85.63 years | female: 93.58 years (2015 est.) | country comparison to the world: 1

Major urban areas - population

MONACO (capital) 38,000 (2014)

Median age

total: 51.7 years | male: 50.6 years | female: 53 years (2015 est.)

Nationality

noun: Monegasque(s) or Monacan(s) | adjective: Monegasque or Monacan

Net migration rate

3.83 migrant(s)/1,000 population (2015 est.) | country comparison to the world: 35

Physicians density

7.17 physicians/1,000 population (2012)

Population

30,535 | note: immigrants make up more than 60% of the total population, according to UN data (2013) (July 2015 est.) | country comparison to the world: 218

Population growth rate

0.12% (2015 est.) | country comparison to the world: 187

Religions

Roman Catholic 90% (official), other 10%

Sanitation facility access

urban: 100% of population | total: 100% of population | urban: 0% of population | total: 0% of population (2015 est.)

Sex ratio

at birth: 1.04 male(s)/female | 0-14 years: 1.06 male(s)/female | 15-24 years: 1.06 male(s)/female | 25-54 years: 0.99 male(s)/female | 55-64 years: 1.01 male(s)/female | 65 years and over: 0.81 male(s)/female | total population: 0.95 male(s)/female (2015 est.)

Total fertility rate

1.52 children born/woman (2015 est.) | country comparison to the world: 193

Urbanization

urban population: 100% of total population (2015) | rate of urbanization: 0.79% annual rate of change (2010-15 est.)

Disputes - international

none

Heliports

1 (2012)

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

major seaport(s): Monaco

Roadways

total: 77 km | paved: 77 km (2010) | country comparison to the world: 218