uated on the French Mediterranean coast, 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.
About 50% of Monaco's annual revenue comes from value-added taxes on hotels,
banks, and the industrial sector; about 25% of revenue comes from tourism.
Living standards are high, that is, roughly comparable to those in
prosperous French metropolitan suburbs.
GDP:
exchange rate conversion - $475 million, per capita $16,000; real growth
rate NA% (1991 est.)
Inflation rate (consumer prices):
NA%
Unemployment rate:
full employment (1989)
Budget:
revenues $424 million; expenditures $376 million, including capital
expenditures of $NA (1991)
Exports:
$NA; full customs integration with France, which collects and rebates
Monacan trade duties; also participates in EC market system through customs
union with France
Imports:
$NA; full customs integration with France, which collects and rebates
Monacan trade duties; also participates in EC market system through customs
union with France
External debt:
$NA
Industrial production:
growth rate NA%
Electricity:
10,000 kW standby capacity (1991); power supplied by France Indus
Agriculture:
NA
Economic aid:
NA
Currency:
French franc (plural - francs); 1 French franc (F) = 100 centimes
Exchange rates:
French francs (F) per US$1 - 5.3801 (January 1992), 5.6421 (1991), 5.4453
(1990), 6.3801 (1989), 5.9569 (1988), 6.0107 (1987)
Fiscal year:
calendar year

:Monaco Communications

Railroads:
1.6 km 1.435-meter gauge
Highways:
none; city streets
Ports:
Monaco
Merchant marine:
1 petroleum tanker (1,000 GRT or over) totaling 3,268 GRT/4,959 DWT
Civil air:
no major transport aircraft
Airports:
1 usable airfield with permanent-surface runways
Telecommunications:
served by cable into the French communications system; automatic telephone
system; 38,200 telephones; broadcast stations - 3 AM, 4 FM, 5 TV; no
communication satellite earth stations

:Monaco Defense Forces

Note:
defense is t