Gouvernement Princier de Monaco

Retail trade

Barometer (monthly business survey)

According to the retailers interviewed, in May 2018, the business climate improves and is again favorable in the retail trade and in the trade and repair of motor vehicles.

Standardized summary indicator (average=100 and standard deviation=10)

Download the retail trade business survey methodology


The Retail Trade sector employs 2,720 people.  Between 2001 and 2016, the weight of this sector was relatively stable, at around 5.8%.  87.7% of employees in this sector work in the traditional retail trade (excluding motor vehicles).

Number of employees int the retail trade as at december 2016
2 720 employees
Source: Monaco Social Funds


With an average age of 40, employees in the retail trade are the youngest, after those in Accommodation and Catering.

Number of establishments in the retail trade as at december 2016
737 establishments
Source: Monaco statistics


As at 31 December 2016, 737 establishments were operating in the retail trade.  This figure is down 5.4% from 2007.

In 2016, the average time for which an establishment had been in operation was 14.4 years, but one in two establishments had been in operation for less than 10 years.  In 2007, the average time for which an establishment had been in operation was 13.2 years, and one in two establishments had been in operation for less than 9 years.

2016 Retail Trade turnover
1 503.1 M€
Source: Monaco Statistics


Retail Trade, the second largest sector in terms of turnover after Wholesale Trade, represents almost 12% of the Principality's overall turnover, excluding Financial and Insurance activities, and exceeds EUR 1.5 billion for the first time.

In fifteen years, the turnover for Retail Trade has more than doubled (+113.3%).  However, its two components have not evolved at the same speed.  Whilst Retail Trade, excluding cars and motorcycles, grew by 87.8%, turnover for the Trade and Repair of Cars and Motorcycles tripled in the same period.

In 2016, 58.1% of the turnover for the Retail Trade, excluding motor vehicles, was generated by three NAF (Nomenclature of French Activities) classes:

- Retail sale of watches and jewellery in specialised stores:  22.4%;

- Retail sale of clothing in specialised stores:  19.4%;

- Retail trade in non-specialised stores that are predominantly food-dominated (convenience stores, supermarkets and hypermarkets):  16.3%.

The excellent results for Retail Trade for watches and jewellery items in specialised stores (+44.9%) mask the difficulties experienced by the traditional retail trade in 2016:  a decline in turnover of the main NAF classes such as clothing (-7.8%).

The results for convenience stores, supermarkets and hypermarkets remained stable (+0.9%).