Monaco

Broadband - fixed subscriptions

total: 19,258 | subscriptions per 100 inhabitants: 63 (2017 est.)

Broadcast media

TV Monte-Carlo 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

Internet country code

.mc

Internet users

total: 29,116 | percent of population: 95.2% (July 2016 est.)

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; competitive mobile telephony market (2018) | domestic: fixed-line 153 per 100 and mobile-cellular teledensity exceeds 108 per 100 persons (2018) | international: country code - 377; landing points for the EIG and Italy-Monaco submarine cables connecting Monaco to Europe, Africa, the Middle East and Asia; no satellite earth stations; connected by cable into the French communications system (2019)

Telephones - fixed lines

total subscriptions: 47,013 | subscriptions per 100 inhabitants: 153 (2017 est.)

Telephones - mobile cellular

total subscriptions: 32,978 | subscriptions per 100 inhabitants: 108 (2017 est.)

Agriculture - products

none

Budget

revenues: 896.3 million (2011 est.) | expenditures: 953.6 million (2011 est.)

Budget surplus (+) or deficit (-)

-1% (of GDP) (2011 est.)

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 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. 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 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. Monaco's reliance on tourism and banking for its economic growth has left it vulnerable to downturns 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.

Exchange rates

euros (EUR) per US dollar - | 0.885 (2017 est.) | 0.903 (2016 est.) | 0.9214 (2015 est.) | 0.885 (2014 est.) | 0.7634 (2013 est.)

Exports

$964.6 million (2017 est.) | $1.115 billion (2011) | note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

Fiscal year

calendar year

GDP (official exchange rate)

$6.006 billion (2015 est.) (2015 est.)

GDP (purchasing power parity)

$7.672 billion (2015 est.) | $7.279 billion (2014 est.) | $6.79 billion (2013 est.) | note: data are in 2015 US dollars

GDP - composition, by sector of origin

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

GDP - per capita (PPP)

$115,700 (2015 est.) | $109,200 (2014 est.) | $101,900 (2013 est.)

GDP - real growth rate

5.4% (2015 est.) | 7.2% (2014 est.) | 9.6% (2013 est.)

Household income or consumption by percentage share

lowest 10%: NA | highest 10%: NA

Imports

$1.371 billion (2017 est.) | $1.162 billion (2011 est.) | note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

Industrial production growth rate

6.8% (2015)

Industries

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

Inflation rate (consumer prices)

1.5% (2010)

Labor force

52,000 (2014 est.) | note: includes all foreign workers

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

14.9% (of GDP) (2011 est.)

Unemployment rate

2% (2012)

Electricity access

electrification - total population: 100% (2016)

Area

total: 2 sq km | land: 2 sq km | water: 0 sq km

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

lowest point: Mediterranean Sea 0 m | highest point: Chemin des Revoires on Mont Agel 162 m

Environment - current issues

no serious issues; actively monitors pollution levels in air and water

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 the Holy See); smallest country with a coastline; almost entirely urban

Irrigated land

0 sq km (2012)

Land boundaries

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

Land use

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

none

Natural resources

none

Population distribution

the second most densely populated country in the world (after Macau); its entire population living on 2 square km

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

history: previous 1911 (suspended 1959); latest adopted 17 December 1962 | amendments: proposed by joint agreement of the chief of state (the prince) and the National Council; passage requires two-thirds majority vote of National Council members; amended 2002 (2016)

Country name

conventional long form: Principality of Monaco | conventional short form: Monaco | local long form: Principaute de Monaco | local short form: Monaco | etymology: founded as a Greek colony in the 6th century B.C., the name derives from two Greek words "monos" (single, alone) and "oikos" (house) to convey the sense of a people "living apart" or in a "single habitation"

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

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 Serge TELLE (since 1 February 2016) | 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 courts: 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 11 February 2018 (next to be held in February 2023) | election results: percent of vote by party - Priorite Monaco 57.7%, Horizon Monaco 26.1%, Union Monegasque 16.2%; seats by party - Priorite Monaco 21, Horizon Monaco 2, Union Monegasque 1; composition - men 16, women 8, percent of women 33.3%

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] Priorite Monaco [Stephane VALERI] Renaissance [SBM (public corporation)] Union Monegasque [Jean-Francois ROBILLON]

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 control in 1297 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.

Military - note

defense is the responsibility of France

Military and security forces

no regular military forces; Ministry of Interior: Compagnie des Carabiniers du Prince (Prince’s Company of Carabiniers (Palace Guard)), Corps des Sapeurs-pompiers de Monaco (Fire and Emergency), Police Department (2019)

Age structure

0-14 years: 10.27% (male 1,622 /female 1,533) | 15-24 years: 9.39% (male 1,498 /female 1,387) | 25-54 years: 32.15% (male 4,964 /female 4,916) | 55-64 years: 15.04% (male 2,305 /female 2,315) | 65 years and over: 33.15% (male 4,530 /female 5,657) (2018 est.) | population pyramid: The World Factbook Field Image Modal × Europe :: Monaco Print Image Description This is the population pyramid for Monaco. A population pyramid illustrates the age and sex structure of a country's population and may provide insights about political and social stability, as well as economic development. The population is distributed along the horizontal axis, with males shown on the left and females on the right. The male and female populations are broken down into 5-year age groups represented as horizontal bars along the vertical axis, with the youngest age groups at the bottom and the oldest at the top. The shape of the population pyramid gradually evolves over time based on fertility, mortality, and international migration trends. For additional information, please see the entry for Population pyramid on the Definitions and Notes page under the References tab.

Birth rate

6.5 births/1,000 population (2018 est.)

Current Health Expenditure

1.7% (2016)

Death rate

10.1 deaths/1,000 population (2018 est.)

Drinking water source

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

Education expenditures

1.5% of GDP (2017)

Ethnic groups

Monegasque 32.1%, French 19.9%, Italian 15.3%, British 5%, Belgian 2.3%, Swiss 2%, German 1.9%, Russian 1.8%, American 1.1%, Dutch 1.1%, Moroccan 1%, other 16.6% note: data represent population by country of birth French 24.9%, Monegasque 22.5%, Italian 21.9%, British 7.5%, Swiss 3.2%, Belgian 2.9%, German 2.4%, Russian 2%, Dutch 1.5%, Portuguese 1.4%, Greek 1.1%, American 1%, other 7.7% note: data represent population by nationality (2016 est.)

HIV/AIDS - adult prevalence rate

NA

HIV/AIDS - deaths

NA

HIV/AIDS - people living with HIV/AIDS

NA

Hospital bed density

13.8 beds/1,000 population (2012)

Infant mortality rate

total: 1.8 deaths/1,000 live births (2018 est.) | male: 2.1 deaths/1,000 live births | female: 1.6 deaths/1,000 live births

Languages

French (official), English, Italian, Monegasque

Life expectancy at birth

total population: 89.4 years (2018 est.) | male: 85.5 years | female: 93.4 years

Major urban areas - population

39,000 MONACO (capital) (2018)

Median age

total: 53.8 years (2018 est.) | male: 52.4 years | female: 55.3 years

Nationality

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

Net migration rate

6.5 migrant(s)/1,000 population (2018 est.)

Physicians density

6.56 physicians/1,000 population (2014)

Population

30,727 (July 2018 est.) | note: immigrants make up almost 55% of the total population, according to UN data (2017)

Population distribution

the second most densely populated country in the world (after Macau); its entire population living on 2 square km

Population growth rate

0.3% (2018 est.)

Religions

Roman Catholic 90% (official), other 10%

Sanitation facility access

improved: urban: 100% of population (2015 est.) | total: 100% of population (2015 est.) | unimproved: urban: 0% of population (2015 est.) | 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: 1.08 male(s)/female | 25-54 years: 1.01 male(s)/female | 55-64 years: 1 male(s)/female | 65 years and over: 0.8 male(s)/female | total population: 0.94 male(s)/female (2018 est.)

Total fertility rate

1.54 children born/woman (2018 est.)

Unemployment, youth ages 15-24

total: 26.6% | male: 25.7% | female: 27.9% (2016 est.)

Urbanization

urban population: 100% of total population (2019) | rate of urbanization: 0.51% annual rate of change (2015-20 est.)

Disputes - international

none

Civil aircraft registration country code prefix

3A (2016)

Heliports

1 (2012)

Ports and terminals

major seaport(s): Hercules Port

Railways

note: Monaco has a single railway station but does not operate its own train service; the French operator SNCF operates rail services in Monaco