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_#_Overview: Monaco, situated 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, non-polluting 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: $324 million, per capita $11,000; real growth rate NA%
(1990 est.)

_#_Inflation rate (consumer prices): NA%

_#_Unemployment rate: full employment (1989)

_#_Budget: revenues $386 million; expenditures $426, including capital
expenditures of $NA (1988 est.)

_#_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 (1988); power supplied by
France

_#_Industries: tourism, pharmaceuticals, precision instruments,
glassmaking, printing, finance

_#_Agriculture: NA

_#_Economic aid: NA

_#_Currency: French franc (plural--francs); 1 French franc (F) = 100
centimes

_#_Exchange rates: French francs (F) per US$1--5.1307 (January 1991),
5.4453 (1990), 6.3801 (1989), 5.9569 (1988), 6.0107 (1987), 6.9261
(1986), 8.9852 (1985)

_#_Fiscal year: calendar year

_*_Communications
_#_Railroads: 1.6 km 1.435-meter gauge

_#_Highways: none; city streets

_#_Ports: Monaco

_#_Merchant marine: 1 petroleum, oils, and lubricants (POL) 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 the French communications system;
automatic telephone system; 38,200 telephones; stations--3 AM, 4 FM, 5
TV; no communication