Gouvernement Princier de Monaco

Foreign Trade

As a result of the Customs Union which exists between France and the Principality of Monaco, goods and services traded between the two countries are not subject to customs formalities. The data presented here relates solely to trade between the Principality of Monaco and the rest of the world, excluding France.

Global growth slowed down in 2018. According to forecasts, it should settle at 3.7%. Several factors are at play in this slowdown. Uncertainty weighed down on financial markets (shut down, trade tensions betweens the United States and China, etc.). Financial condictions have more or less tightened depending on the economic region since the fourth quarter of 2018. We also see outflows of capital in emerging markets. Furthermore, industrial production, especially that of capital goods, fell below expectations. New anti-pollution measures that were put in place in Europe (Diesel gate) negatively affected the automotive industry.

2018 Balance of trade
- 1069,3 million euros
Source: Monaco Statistics
2018 Exports
959,2 million euros
Source: Monaco Statistics
2018 Imports
2028,5 million euros
Source: Monaco Statistics


While global growth slowed down and settled well below 2017 levels, Monaco's foreign trade experienced a strong increase in 2018 (+20,9 %) following moderate growth in 2017 (+1,1 %).

However, while the overall volume of trade continued to grow, there has been a growing divergence between imports and exports since 2013 leading to an increase in the trade deficit. The trade deficit rose above 1 billion euros for the first time.

Over three-quarters of Monegasque trade is done with partners on the European continent and mainly with members of the European Union.

Goods from the manufacture of other industrial products (perfumes, cosmetics, etc.) account for more than half of trade (57,0 %).