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, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a major banking center and 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.
GDP (purchasing power parity):
$976.3 million note: Monaco does not publish national income figures; the estimates are extremely rough (2006 est.)
GDP (official exchange rate):
$NA
GDP - real growth rate:
0.9% (2000 est.)