Gouvernement Princier de Monaco

Economy Bulletin

Data at 1st quarter 2019

The total volume of trade continued to increase and exceeded 780 million euros. The total value of exports increased and imports fell: the trade deficit decreased significantly.

In the first quarter of 2019, the Principality’s revenue excluding Financial and Insurance activities decreased (-€242.1 M, that is, –7.2 %) with respect to 2018. It reverted to its Q1 2017 level. Only two sectors saw their revenue increase: Accommodation and catering and Transport and storage.

With 55 099 jobs and 6 112 employers, private sector employment was on the rise in the first quarter of 2019. The most significant increase came again from Scientific and technical activities, administrative and support services.

The number of entities created and struck off decreased. Although the balance remained positive, it was smaller.

The number of rooms booked (in terms of nights) decreased slightly. The total reopening of the Hôtel de Paris led to a 21 % increase in the number of 5* rooms available for booking. The combination of these two factors explains the decrease in the occupancy rate. The number of stopovers and cruise passengers decreased due to the harbouring of 3 ships less.

The arrival on the market of two new real estate projects supported sales of new apartments. There was a decline in the market for second hand properties.

The number of new car registrations decreased for the second quarter in a row after having increased for seven consecutive quarters. Public car park usage was also down.

The number of flights and passengers of the heliport increased.