representation from the US: the US does not have an embassy
in Monaco; the US Consul General in Marseille (France) is accredited
to Monaco

Flag description: two equal horizontal bands of red (top) and white;
similar to the flag of Indonesia which is longer and the flag of
Poland which is white (top) and red

@Monaco:Economy

Economy-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, 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 55%
of Monaco's annual revenue comes from value-added taxes on hotels,
banks, and the industrial sector. Living standards are high, roughly
comparable to those in prosperous French metropolitan areas.

GDP: purchasing power parity-$800 million (1996 est.)

GDP-real growth rate: NA%

GDP-per capita: purchasing power parity-$25,000 (1996 est.)

GDP-composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Inflation rate-consumer price index: NA%

Labor force:
total: 30,540 (1 January 1994)

Unemployment rate: 3.1% (1994)

Budget:
revenues: $623.3 million
expenditures: $638.7 million, including capital expenditures of $NA
(1995 est.)

Industrial production growth rate: NA%

Electricity-capacity: 10,000 kW standby
note: electricity imported from France

Electricity-production: NA kWh

Electricity-consumption per capita: NA kWh

Agriculture-products: none

Exports: $NA; full customs integration with France, which collects and
rebates Monegasque trade duties; also participates in EU market system
through customs union with France

Imports: $NA; 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

Economic aid: $NA

Currency: 1 French franc (F) = 100 centimes

Exchange rates: French francs (F) per US$1-6.0836 (January 1998),
5.8367 (1997), 5.1155 (1996), 4.9915 (1995), 5.5520 (1994), 5.6632
(1993)

Fiscal year: calendar year

Communications

Telephones: 53,180 (1994 est.)

Telephone system: automatic telephone system
domestic: NA
international: no satellite ear