home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
CNN Newsroom: Global View
/
CNN Newsroom: Global View.iso
/
eur
/
mon
/
mon.ec1
< prev
next >
Wrap
Text File
|
1994-05-02
|
2KB
|
61 lines
<text>
<title>
Monaco: Economy
</title>
<article><hdr>The World Factbook 1993: Monaco
Economy</hdr><body>
<p>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 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.
</p>
<p>National product: GDP - exchange rate conversion - $475 million
(1991 est.)
</p>
<p>National product real growth rate: NA%
</p>
<p>National product per capita: $16,000 (1991 est.)
</p>
<p>Inflation rate (consumer prices): NA%
</p>
<p>Unemployment rate: NEGL%
</p>
<p>Budget: revenues $424 million; expenditures $376 million, including
capital expenditures of $NA (1991)
</p>
<list>
<l>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</l>
<l>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</l>
</list>
<p>External debt: $NA
</p>
<p>Industrial production: growth rate NA%
</p>
<p>Electricity: 10,000 kW standby capacity (1992); power imported from
France
</p>
<p>Agriculture: NA
</p>
<p>Economic aid: NA
</p>
<p>Currency: 1 French franc (F)=100 centimes
</p>
<p>Exchange rates: French francs (F) per US$1 - 5.4812 (January 1993),
5.2938 (1992), 5.6421 (1991), 5.4453 (1990), 6.3801 (1989), 5.9569
(1988)
</p>
<p>Fiscal year: calendar year
</p></body></article></text>