Gouvernement Princier de Monaco

Economy and Finance

The Economy in detail

The Bulletin of the Economy offers a synthesis of Monegasque economic activity for the preceding quarter. It is like a scorecard, making it possible to keep track of changes in the tourism, real estate and transport sectors, foreign trade, the Principality's revenue, finance and employment.

The figures for each period are aggregated and compared with those for the corresponding three months of the previous year. At the end of the bulletin, commentaries are included on each sector in order to emphasise or explain the key points.

The Observatories of the Economy are more detailed. These are studies of specific sectors which present and comment on the annual figures relating to the Retail Trade, Foreign Trade, Industry and Real Estate.

The introduction, on 1 January 2012, of the French classification of activities (NAF) 2008, allowed for a redefinition of the major economic sectors of Monaco, while ensuring international comparability. The presentation of GDP and of the Economic Bulletin in 12 sectors, rather than the previous 9, along with the removal of the sector “Various”, make it easier to understand the real economic situation.

Download the NAF 2008 codes by sector


Gross Domestic Product

10 November 2016 Thematic Content

Monaco’s GDP was 5.64 billion euros in 2015, compared with 5.32 billion in 2014. Corrected for inflation, GDP recorded an increase of 5.4% by volume. GDP indicators...

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Retail trade

13 March 2017 Thematic Content

Barometer (monthly business survey)According to the retailers interviewed, in January 2017, the business climate continues to decline.The summary indicator loses 3 points in comparison with the month of December and remains below its long-term average....

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Foreign Trade

06 April 2016 Thematic Content

In 2015, the stagnation and marked slowdown in global trade were a cause of concern for the OECD. The organisation’s Chief Economist, American Catherine Mann, described trade figures in 2015 as “deeply concerning”, among the worst seen in the last 50 years.The slowdown in global trade (with growth down 1.4 points ov...

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Real estate

16 February 2017 Thematic Content

The Monegasque property market was affected by the international financial crisis in 2009 and 2010, but it recovered and even surpassed pre-crisis levels in 2011, and saw two exceptional years in 2014 and 2015.

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19 October 2016 Thematic Content

Turnover in the Industry sector was EUR 964.4 million, accounting for 6.6% of the Principality’s turnover (excluding Financial and insurance activities). Once again, it experienced a decline in 2015 (-6.7%). 2015 INDUSTRY TURNOVER 964.4 M€...

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Trade and Industry Register

17 March 2016 Thematic Content

The Trade and Industry Register (RCI) references all natural or legal persons, deemed as trading by law, and carrying out their commercial activities on the Principality’s territory. Number of active entities in the RCI as at 31/12/2015...

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Economy Bulletin

16 March 2017 Thematic Content

Data at 4thquarter 2016 The total volume of trade inc...

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Focus Economy - Finance

07 July 2016 Thematic Content

Wholesale tradeFor the third consecutive year, turnover in the Wholesale Trade sector has declined. With a fall of 9 % in 2015, smaller than in 2013 and 2014, the sector has seen its turnover drop by more than 42 % in three years, declining from 8 billion to 4.6 billion. It nevertheless represents more than a third...

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