Gouvernement Princier de Monaco

Industry

In 2018, the Principality's total turnover, excluding Financial and Insurance activities reached 14 235.5 million euros. The industrial sector acounted for 5.9 % of this turnover, that is 838.2 million euros, 20.2 % less that in 2009. This decrease is due to manufacturing industries which saw their turnover fall from 1 004.2 million euros in 2013 to 684.8 million euros in 2018.

2018 INDUSTRY TURNOVER
838.2 M€
Source: IMSEE

 

The increase in turnover in extractive and other industries (from 126.2 million euros in 2013 to 154.3 million euros in 2018) didn't compensate for this fall. With 81.7 % of industrial turnover in 2018, the share of manufacturing industries decreased. Indeed, it was 88.8 % in 2013. 

Despite a decrease in total turnover with respect to 2009, the industrial sector still accounted for a large share of the Principality's foreign trade. In 2018, 31.6 % of the industrial sector's turnover came from exports, that is, 265.3 million euros. The Industrial sector was the second largest in terms of exports behind wholesale. 

With 174 active entities, the industrial sector accounted for 1.8 % of the Principality's active entities. This figure was over 7 % in 1985 but has been decreasing every year. 

The average age of an industrial entity is the highest of any of the Principality's sectors at 25.8 years versus 12.5 years for the average entity, all sectors combined. 

 

 

In 2013, there were 112 employers in the industrial sector versus 118 in 2018. While the total number of private sector employees in the Principality increased from 46 600 in 2013 to 51 601 in 2018 (+10.7 %), the industrial sector experienced a steady decrease in the number of employees (-15.7 % since 2013). 

INDUSTRY EMPLOYERS AS AT DECEMBER 2018
118 EMPLOYERS
Source: Monaco social funds

 

INDUSTRY EMPLOYEES AS AT DECEMBER 2018
2 603 EMPLOYEES
Source: Monaco social funds

 

Proportionally, the industrial sector employs more men (64.0 %)  than the Principality's other sectors. Employees in the sector are also older (43.7  years old, on average, versus 41.8 years old, all sectors combined). French nationals account for 73.1 % of the industrial sector's employees versus 63.0 % of all employees in the Principality.

In comparison with other sectors, a smaller share of industrial employees reside in Monaco (6.5 % versus 12.8 %). However, the share of employees who live in Italy is significantly higher at 14.1 % versus 8.3 % on average, all sectors combined. 

 

http://www.monacostatistics.mc/Economy-and-Finance/Industry