International organization participation: ACCT, ECE, FAO, IAEA, ICAO,
ICC, ICRM, IFRCS, IHO, IMO, Interpol, IOC, ITU, OPCW, OSCE, UN, UNCTAD,
UNESCO, UPU, WHO, WIPO, WMO, WToO
Diplomatic representation in the US: Monaco does not have an embassy in the US consulate(s) general: New York
Diplomatic 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
Economy Monaco
Economy - overview: Monaco, situated on the French Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. In 2001, a major new construction project will extend the pier used by cruise ships in the main harbor. 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. Living standards are high, roughly comparable to those in prosperous French metropolitan areas. Monaco does not publish national income figures; the estimates below are extremely rough.
GDP: purchasing power parity - $870 million (1999 est.)
GDP - real growth rate: NA%
GDP - per capita: purchasing power parity - $27,000 (1999 est.)
GDP - composition by sector: agriculture: NA% industry: NA% services: NA%