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Europe :: Monaco Print
Page last updated on November 24, 2020
  • Introduction :: Monaco
  • Background field listing
    The Genoese built a fortress on the site of present day Monaco in 1215. The current ruling GRIMALDI family first seized control in 1297 but was not able to permanently secure its holding until 1419. Economic development was spurred in the late 19th century with a railroad linkup to France and the opening of a casino. Since then, the principality's mild climate, splendid scenery, and gambling facilities have made Monaco world famous as a tourist and recreation center.
  • Geography :: Monaco
  • Location field listing
    Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy
    Geographic coordinates field listing
    43 44 N, 7 24 E
    Map references field listing
    Area field listing
    total: 2 sq km
    land: 2 sq km
    water: 0 sq km
    country comparison to the world: 255
    Area - comparative field listing
    about three times the size of the National Mall in Washington, DC
    Land boundaries field listing
    total: 6 km
    border countries (1): France 6 km
    Coastline field listing
    4.1 km
    Maritime claims field listing
    territorial sea: 12 nm
    exclusive economic zone: 12 nm
    Climate field listing
    Mediterranean with mild, wet winters and hot, dry summers
    Terrain field listing
    hilly, rugged, rocky
    Elevation field listing
    lowest point: Mediterranean Sea 0 m
    highest point: Chemin des Revoires on Mont Agel 162 m
    Natural resources field listing
    Land use field listing
    agricultural land: 1% (2011 est.)
    arable land: 0% (2011 est.) / permanent crops: 1% (2011 est.) / permanent pasture: 0% (2011 est.)
    forest: 0% (2011 est.)
    other: 99% (2011 est.)
    Irrigated land field listing
    0 sq km (2012)
    Population distribution field listing
    the second most densely populated country in the world (after Macau); its entire population living on 2 square km
    Natural hazards field listing
    Environment - current issues field listing
    no serious issues; actively monitors pollution levels in air and water
    Environment - international agreements field listing
    party to: Air Pollution, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling
    signed, but not ratified: none of the selected agreements
    Geography - note field listing
    second-smallest independent state in the world (after the Holy See); smallest country with a coastline; almost entirely urban
  • People and Society :: Monaco
  • Population field listing
    39,000 (2019 est.)

    note: immigrants make up almost 68% of the total population, according to UN data (2019)

    country comparison to the world: 214
    Nationality field listing
    noun: Monegasque(s) or Monacan(s)
    adjective: Monegasque or Monacan
    Ethnic groups field listing
    Monegasque 32.1%, French 19.9%, Italian 15.3%, British 5%, Belgian 2.3%, Swiss 2%, German 1.9%, Russian 1.8%, American 1.1%, Dutch 1.1%, Moroccan 1%, other 16.6%

    note: data represent population by country of birth

    French 24.9%, Monegasque 22.5%, Italian 21.9%, British 7.5%, Swiss 3.2%, Belgian 2.9%, German 2.4%, Russian 2%, Dutch 1.5%, Portuguese 1.4%, Greek 1.1%, American 1%, other 7.7%

    note: data represent population by nationality (2016 est.)
    Languages field listing
    French (official), English, Italian, Monegasque
    Religions field listing
    Roman Catholic 90% (official), other 10%
    Age structure field listing
    0-14 years: 9.41% (male 1,497/female 1,415)
    15-24 years: 9.52% (male 1,538/female 1,406)
    25-54 years: 30.46% (male 4,779/female 4,644)
    55-64 years: 15.47% (male 2,370/female 2,417)
    65 years and over: 35.15% (male 4,817/female 6,057) (2020 est.)
    population pyramid: population pyramid
    Median age field listing
    total: 55.4 years
    male: 53.7 years
    female: 57 years (2020 est.)
    country comparison to the world: 1
    Population growth rate field listing
    0.37% (2020 est.)
    country comparison to the world: 165
    Birth rate field listing
    6.4 births/1,000 population (2020 est.)
    country comparison to the world: 229
    Death rate field listing
    10.8 deaths/1,000 population (2020 est.)
    country comparison to the world: 24
    Net migration rate field listing
    8.3 migrant(s)/1,000 population (2020 est.)
    country comparison to the world: 10
    Population distribution field listing
    the second most densely populated country in the world (after Macau); its entire population living on 2 square km
    Urbanization field listing
    urban population: 100% of total population (2020)
    rate of urbanization: 0.51% annual rate of change (2015-20 est.)
    total population growth rate v. urban population growth rate, 2000-2030: PDF
    Major urban areas - population field listing
    39,000 MONACO (capital) (2018)
    Sex ratio field listing
    at birth: 1.03 male(s)/female
    0-14 years: 1.06 male(s)/female
    15-24 years: 1.09 male(s)/female
    25-54 years: 1.03 male(s)/female
    55-64 years: 0.98 male(s)/female
    65 years and over: 0.8 male(s)/female
    total population: 0.94 male(s)/female (2020 est.)
    Infant mortality rate field listing
    total: 1.9 deaths/1,000 live births
    male: 2.1 deaths/1,000 live births
    female: 1.6 deaths/1,000 live births (2020 est.)
    country comparison to the world: 227
    Life expectancy at birth field listing
    total population: 89.3 years
    male: 85.4 years
    female: 93.3 years (2020 est.)
    country comparison to the world: 1
    Total fertility rate field listing
    1.55 children born/woman (2020 est.)
    country comparison to the world: 195
    Drinking water source field listing
    improved: urban: 100% of population
    total: 100% of population
    unimproved: urban: 0% of population
    total: 0% of population (2017 est.)
    Current Health Expenditure field listing
    1.8% (2017)
    Physicians density field listing
    7.51 physicians/1,000 population (2014)
    Hospital bed density field listing
    13.8 beds/1,000 population (2012)
    Sanitation facility access field listing
    improved: urban: 100% of population
    total: 100% of population
    unimproved: urban: 0% of population
    total: 0% of population (2017 est.)
    HIV/AIDS - adult prevalence rate field listing
    HIV/AIDS - people living with HIV/AIDS field listing
    HIV/AIDS - deaths field listing
    Education expenditures field listing
    1.5% of GDP (2017)
    country comparison to the world: 173
    Unemployment, youth ages 15-24 field listing
    total: 26.6%
    male: 25.7%
    female: 27.9% (2016 est.)
    country comparison to the world: 43
  • Government :: Monaco
  • Country name field listing
    conventional long form: Principality of Monaco
    conventional short form: Monaco
    local long form: Principaute de Monaco
    local short form: Monaco
    etymology: founded as a Greek colony in the 6th century B.C., the name derives from two Greek words "monos" (single, alone) and "oikos" (house) to convey the sense of a people "living apart" or in a "single habitation"
    Government type field listing
    constitutional monarchy
    Capital field listing
    name: Monaco
    geographic coordinates: 43 44 N, 7 25 E
    time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
    daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
    Administrative divisions field listing
    none; there are no first-order administrative divisions as defined by the US Government, but there are 4 quarters (quartiers, singular - quartier); Fontvieille, La Condamine, Monaco-Ville, Monte-Carlo; note - Moneghetti, a part of La Condamine, is sometimes called the 5th quarter of Monaco
    Independence field listing
    1419 (beginning of permanent rule by the House of GRIMALDI)
    National holiday field listing
    National Day (Saint Rainier's Day), 19 November (1857)
    Constitution field listing
    history: previous 1911 (suspended 1959); latest adopted 17 December 1962
    amendments: proposed by joint agreement of the chief of state (the prince) and the National Council; passage requires two-thirds majority vote of National Council members; amended 2002
    International law organization participation field listing
    has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
    Citizenship field listing
    citizenship by birth: no
    citizenship by descent only: the father must be a citizen of Monaco; in the case of a child born out of wedlock, the mother must be a citizen and father unknown
    dual citizenship recognized: no
    residency requirement for naturalization: 10 years
    Suffrage field listing
    18 years of age; universal
    Executive branch field listing
    chief of state: Prince ALBERT II (since 6 April 2005)
    head of government: Minister of State Serge TELLE (since 1 February 2016)
    cabinet: Council of Government under the authority of the monarch
    elections/appointments: the monarchy is hereditary; minister of state appointed by the monarch from a list of three French national candidates presented by the French Government
    Legislative branch field listing
    description: unicameral National Council or Conseil National (24 seats; 16 members directly elected in multi-seat constituencies by simple majority vote and 8 directly elected by proportional representation vote; members serve 5-year terms)
    elections: last held on 11 February 2018 (next to be held in February 2023)
    election results: percent of vote by party - Priorite Monaco 57.7%, Horizon Monaco 26.1%, Union Monegasque 16.2%; seats by party - Priorite Monaco 21, Horizon Monaco 2, Union Monegasque 1; composition - men 16, women 8, percent of women 33.3%
    Judicial branch field listing
    highest courts: Supreme Court (consists of 5 permanent members and 2 substitutes)
    judge selection and term of office: Supreme Court members appointed by the monarch upon the proposals of the National Council, State Council, Crown Council, Court of Appeal, and Trial Court
    subordinate courts: Court of Appeal; Civil Court of First Instance
    Political parties and leaders field listing
    Horizon Monaco [Laurent NOUVION]
    Priorite Monaco [Stephane VALERI]
    Renaissance [SBM (public corporation)]
    Union Monegasque [Jean-Francois ROBILLON]
    International organization participation field listing
    CD, CE, FAO, IAEA, ICAO, ICC (national committees), ICRM, IFRCS, IHO, IMO, IMSO, Interpol, IOC, IPU, ITSO, ITU, OAS (observer), OIF, OPCW, OSCE, Schengen Convention (de facto member), UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WHO, WIPO, WMO
    Diplomatic representation in the US field listing
    chief of mission: Ambassador Maguy MACCARIO-DOYLE (since 3 December 2013)
    chancery: 3400 International Drive NW, Suite 2K-100, Washington, DC 20008
    telephone: (202) 234-1530
    FAX: (202) 244-7656
    consulate(s) general: New York
    Diplomatic representation from the US field listing
    US does not have an embassy in Monaco; the US Ambassador to France is accredited to Monaco; the US Consul General in Marseille (France), under the authority of the US Ambassador to France, handles diplomatic and consular matters concerning Monaco; +(33)(1) 43-12-22-22, enter zero "0" after the automated greeting; US Embassy Paris, 2 Avenue Gabriel, 75008 Paris, France
    Flag description field listing
    two equal horizontal bands of red (top) and white; the colors are those of the ruling House of Grimaldi and have been in use since 1339, making the flag one of the world's oldest national banners

    note: similar to the flag of Indonesia which is longer and the flag of Poland which is white (top) and red

    National symbol(s) field listing
    red and white lozenges (diamond shapes); national colors: red, white
    National anthem field listing
    name: "A Marcia de Muneghu" (The March of Monaco)
    lyrics/music: Louis NOTARI/Charles ALBRECHT

    note: music adopted 1867, lyrics adopted 1931; although French is commonly spoken, only the Monegasque lyrics are official; the French version is known as "Hymne Monegasque" (Monegasque Anthem); the words are generally only sung on official occasions

  • Economy :: Monaco
  • Economy - overview field listing

    Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a banking center and has successfully sought to diversify into services and small, high-value-added, nonpolluting industries. The state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service. Living standards are high, roughly comparable to those in prosperous French metropolitan areas.

    The state has no income tax and low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. Monaco, however, is not a tax-free shelter; it charges nearly 20% value-added tax, collects stamp duties, and companies face a 33% tax on profits unless they can show that three-quarters of profits are generated within the principality. Monaco was formally removed from the OECD's "grey list" of uncooperative tax jurisdictions in late 2009, but continues to face international pressure to abandon its banking secrecy laws and help combat tax evasion. In October 2014, Monaco officially became the 84th jurisdiction participating in the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters, an effort to combat offshore tax avoidance and evasion.

    Monaco's reliance on tourism and banking for its economic growth has left it vulnerable to downturns in France and other European economies which are the principality's main trade partners. In 2009, Monaco's GDP fell by 11.5% as the euro-zone crisis precipitated a sharp drop in tourism and retail activity and home sales. A modest recovery ensued in 2010 and intensified in 2013, with GDP growth of more than 9%, but Monaco's economic prospects remain uncertain.

    GDP (purchasing power parity) field listing
    $7.672 billion (2015 est.)
    $7.279 billion (2014 est.)
    $6.79 billion (2013 est.)

    note: data are in 2015 US dollars

    country comparison to the world: 165
    GDP (official exchange rate) field listing
    $6.006 billion (2015 est.)
    GDP - real growth rate field listing
    5.4% (2015 est.)
    7.2% (2014 est.)
    9.6% (2013 est.)
    country comparison to the world: 36
    GDP - per capita (PPP) field listing
    $115,700 (2015 est.)
    $109,200 (2014 est.)
    $101,900 (2013 est.)
    country comparison to the world: 4
    GDP - composition, by sector of origin field listing
    agriculture: 0% (2013)
    industry: 14% (2013)
    services: 86% (2013)
    Agriculture - products field listing
    Industries field listing
    banking, insurance, tourism, construction, small-scale industrial and consumer products
    Industrial production growth rate field listing
    6.8% (2015)
    country comparison to the world: 33
    Labor force field listing
    52,000 (2014 est.)

    note: includes all foreign workers

    country comparison to the world: 190
    Labor force - by occupation field listing
    agriculture: 0%
    industry: 16.1%
    services: 83.9% (2012 est.)
    Unemployment rate field listing
    2% (2012)
    country comparison to the world: 20
    Population below poverty line field listing
    Household income or consumption by percentage share field listing
    lowest 10%: NA
    highest 10%: NA
    Budget field listing
    revenues: 896.3 million (2011 est.)
    expenditures: 953.6 million (2011 est.)
    Taxes and other revenues field listing
    14.9% (of GDP) (2011 est.)
    country comparison to the world: 196
    Budget surplus (+) or deficit (-) field listing
    -1% (of GDP) (2011 est.)
    country comparison to the world: 80
    Fiscal year field listing
    calendar year
    Inflation rate (consumer prices) field listing
    1.5% (2010)
    country comparison to the world: 84
    Exports field listing
    $964.6 million (2017 est.)
    $1.115 billion (2011)

    note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

    country comparison to the world: 161
    Imports field listing
    $1.371 billion (2017 est.)
    $1.162 billion (2011 est.)

    note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France

    country comparison to the world: 176
    Debt - external field listing


    Exchange rates field listing
    euros (EUR) per US dollar -
    0.885 (2017 est.)
    0.903 (2016 est.)
    0.9214 (2015 est.)
    0.885 (2014 est.)
    0.7634 (2013 est.)
  • Energy :: Monaco
  • Electricity access field listing
    electrification - total population: 100% (2020)
  • Communications :: Monaco
  • Telephones - fixed lines field listing
    total subscriptions: 34,903
    subscriptions per 100 inhabitants: 113.23 (2019 est.)
    country comparison to the world: 166
    Telephones - mobile cellular field listing
    total subscriptions: 26,725
    subscriptions per 100 inhabitants: 86.7 (2019 est.)
    country comparison to the world: 211
    Telecommunication systems field listing
    general assessment: modern automatic telephone system; the country's sole fixed-line operator offers a full range of services to residential and business customers; competitive mobile telephony market; 4G LTE widely available (2020)
    domestic: fixed-line 113 per 100 and mobile-cellular teledensity exceeds 87 per 100 persons (2019)
    international: country code - 377; landing points for the EIG and Italy-Monaco submarine cables connecting Monaco to Europe, Africa, the Middle East and Asia; no satellite earth stations; connected by cable into the French communications system (2019)
    note: the COVID-19 outbreak is negatively impacting telecommunications production and supply chains globally; consumer spending on telecom devices and services has also slowed due to the pandemic's effect on economies worldwide; overall progress towards improvements in all facets of the telecom industry - mobile, fixed-line, broadband, submarine cable and satellite - has moderated
    Broadcast media field listing
    TV Monte-Carlo operates a TV network; cable TV available; Radio Monte-Carlo has extensive radio networks in France and Italy with French-language broadcasts to France beginning in the 1960s and Italian-language broadcasts to Italy beginning in the 1970s; other radio stations include Riviera Radio and Radio Monaco
    Internet country code field listing
    Internet users field listing
    total: 29,821
    percent of population: 97.05% (July 2018 est.)
    country comparison to the world: 204
    Broadband - fixed subscriptions field listing
    total: 19,822
    subscriptions per 100 inhabitants: 65 (2018 est.)
    country comparison to the world: 152
  • Transportation :: Monaco
  • Civil aircraft registration country code prefix field listing
    3A (2016)
    Heliports field listing
    1 (2012)
    Railways field listing
    note: Monaco has a single railway station but does not operate its own train service;  the French operator SNCF operates rail services in Monaco
    Ports and terminals field listing
    major seaport(s): Hercules Port
  • Military and Security :: Monaco
  • Military and security forces field listing
    no regular military forces; Ministry of Interior: Compagnie des Carabiniers du Prince (Prince’s Company of Carabiniers (Palace Guard)), Corps des Sapeurs-pompiers de Monaco (Fire and Emergency), Police Department (2019)
    Military - note field listing
    defense is the responsibility of France
  • Transnational Issues :: Monaco
  • Disputes - international field listing