Member of: IAEA, ICAO, IHO, INTELSAT, INTERPOL, IPU, ITU,
UN (permanent observer), UNESCO, UPU, WHO, WIPO
Diplomatic representation: Monaco maintains honorary consulates
general in Boston, Chicago, Los Angeles, New Orleans, New York, and San
Francisco, and honorary consulates in Dallas, Honolulu, Palm Beach,
Philadelphia, and Washington;
US—no mission in Monaco, but the US Consul General in Marseille,
France, is accredited to Monaco; Consul General R. Susan WOOD; Consulate
General at 12 Boulevard Paul Peytral, 13286 Marseille Cedex (mailing
address APO NY 09777); telephone [33] (91) 549-200
Flag: 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
- Economy Overview: No data are published on the economy. 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.
GNP: NA
Inflation rate (consumer prices): NA%
Unemployment rate: full employment (1989)
Budget: revenues $386 million; expenditures $NA, 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