r to the flag of Indonesia which is longer and the flag
of Poland which is white (top) and red

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. The state retains monopolies in a number of sectors,
including tobacco, the telephone network, and the postal service.
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%

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): NA%

Labor force: 30,540 (January 1994)

Unemployment rate: 3.1% (1994)

Budget:
revenues: $518 million
expenditures: $531 million, including capital expenditures of $NA
(1995)

Industrial production growth rate: NA%

Electricity--production: NA kWh

Electricity--production by source:
fossil fuel: NA%
hydro: NA%
nuclear: NA%
other: NA%

Electricity--consumption: NA kWh

Electricity--exports: NA kWh

Electricity--imports: 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--recipient: $NA

Currency: 1 French franc (F) = 100 centimes

Exchange rates: French francs (F) per US$1--5.65 (January 1999),
5.8995 (1998), 5.8367 (1997), 5.1155 (1996), 4.9915 (1995), 5.5520
(1994)

Fiscal year: calendar