Foreign Trade

In Monaco, the post health crisis economic recovery initiated in 2021 continues in 2022, and foreign trade, excluding France, is no exception. Although the overall volume of trade has not yet returned to its 2019 level, it is up significantly by 18.0% compared with 2021 and amounts to 3.5 billion euros. In detail, only exports have returned to their pre-pandemic level thanks to an increase of 226.5 million euros (+19.8%). Imports rose by 309.2 million euros (+16.8%), which is a stronger increase in value, but less important in volume. As a result, the balance of trade increased its deficit, while the coverage rate increased by 1.6 points.

Approaching 19 billion euros at the end of 2022, Monegasque revenue continues its strong growth (+2.5 billion). It rose by 15.0% after 15.6% the previous year. Although a price effect is undeniably involved, this development bears witness to the continuing economic recovery. While in 2021 some major economic sectors (MES) posted lower revenue than in 2019, all MESs have now surpassed their pre-pandemic level.

The weight of imports from European countries is 72.0%. It is reduced by almost five percentage points, in particular to the benefit of purchases in Asia (15.5% of imports in 2022). In terms of exports, Europe accounts for over 80% of the amount sold internationally (83.7%). Overall, it is still Monaco's leading trading partner. 

The balances of trade with each of the geographical zones are in deficit. Only the deficit with Europe is reduced, due to a nominal growth of exports greater than that of imports.

For information on Monaco's trade with a particular country, consult our new interactive Foreign trade Dashboard.