Gouvernement Princier de Monaco

Economy Bulletin

Data at 2nd quarter 2017


Total trade volume decreased by -71.4 M € (-6.6%).  The more marked decline in imports (-44 M €) than exports (-27 M €) reduced the deficit in the trade balance.

As in the first quarter, the Principality's turnover, excluding Financial and Insurance activities, was up (+ 6.7%) compared to 2016, thanks to good results from Wholesale Trade and Construction.

The number of jobs is increasing.  Additional jobs were created in all sectors of activity, with the exception of Retail Trade (-21 jobs).  The number of employers and the number of hours worked is increasing.

Although the balance remains clearly positive, the pace of new business activities is slowing down, while that of closures is increasing.

The results for tourism are mixed - the main indicators for the hotel trade show a downward trend, in contrast to those of the cruise sector.

The real estate sector experienced a difficult first half of the year, although it remains at a high level.  While the number of sales is more or less stable, the number of resales has decreased markedly.  In addition, the value of the properties traded is decreasing.

Registration of new vehicles continues to rise, reaching its highest level ever for the first half of the year.  Car park use is also increasing.  The cumulative results since the beginning of the year for air traffic (helicopter) remain in decline, adversely affected by the figures for the first quarter.