Gouvernement Princier de Monaco

Economy Bulletin

Data at 3rd quarter 2018

The increase in both imports and exports has translated into growth (+30.0%) in the total volume of trade. Imports were more than double exports, resulting in a widening of the trade deficit.

In the third quarter of 2018, the Principality’s turnover, excluding financial and insurance activities, increased by EUR 588.4 million, or 5.9%, exceeding EUR 10 billion for the first time. This rise is due primarily to good performance in the construction sector.

Employment in the private sector was up 3.8% compared to the third quarter of 2017, with temporary employment making a significant contribution to this upward trend.

The number of businesses launched fell but the balance (launches minus closures) remains broadly positive (+239).

In the tourism sector, the number of overnight stays increased and despite a rise in the number of rooms available for sale following the partial reopening of the Hotel de Paris, the occupancy rate was stable. The number of ports of call and cruise passengers rose.

The property market experienced growth, with an increase in sales and resales.

Registrations of new vehicles continued to rise (+5.0%), and at a faster pace than in 2017 (+3.1%).

Use of public car parks remained more or less unchanged (-0.3%). The number of helicopter flights fell, but passenger numbers were up.