Introduction :: Monaco

Background

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

Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy

Geographic coordinates

43 44 N, 7 24 E

Map references

Europe

Area

total: 2 sq km

land: 2 sq km

water: 0 sq km

Area – comparative

about three times the size of the National Mall in Washington, DC

Land boundaries

total: 6 km

border countries (1): France 6 km

Coastline

4.1 km

Maritime claims

territorial sea: 12 nm

exclusive economic zone: 12 nm

Climate

Mediterranean with mild, wet winters and hot, dry summers

Terrain

hilly, rugged, rocky

Elevation

lowest point: Mediterranean Sea 0 m

highest point: Chemin des Revoires on Mont Agel 162 m

Natural resources

none

Land use

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

0 sq km (2012)

Population distribution

the second most densely populated country in the world (after Macau); its entire population living on 2 square km

Natural hazards

none

Environment – current issues

no serious issues; actively monitors pollution levels in air and water

Environment – international agreements

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

second-smallest independent state in the world (after the Holy See); smallest country with a coastline; almost entirely urban

People and Society :: Monaco

Population

39,000 (2019 est.)

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

Nationality

noun: Monegasque(s) or Monacan(s)

adjective: Monegasque or Monacan

Ethnic groups

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

French (official), English, Italian, Monegasque

Religions

Roman Catholic 90% (official), other 10%

Age structure

Median age

total: 55.4 years

male: 53.7 years

female: 57 years (2020 est.)

Population growth rate

0.37% (2020 est.)

Birth rate

6.4 births/1,000 population (2020 est.)

Death rate

10.8 deaths/1,000 population (2020 est.)

Net migration rate

8.3 migrant(s)/1,000 population (2020 est.)

Population distribution

the second most densely populated country in the world (after Macau); its entire population living on 2 square km

Urbanization

urban population: 100% of total population (2020)

rate of urbanization: 0.51% annual rate of change (2015-20 est.)

Major urban areas – population

39,000 MONACO (capital) (2018)

Sex ratio

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

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.)

Life expectancy at birth

total population: 89.3 years

male: 85.4 years

female: 93.3 years (2020 est.)

Total fertility rate

1.55 children born/woman (2020 est.)

Drinking water source

improved:** urban:** 100% of population

total: 100% of population

unimproved:** urban:** 0% of population

total: 0% of population (2017 est.)

Current Health Expenditure

1.8% (2017)

Physicians density

7.51 physicians/1,000 population (2014)

Hospital bed density

13.8 beds/1,000 population (2012)

Sanitation facility access

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

HIV/AIDS – people living with HIV/AIDS

HIV/AIDS – deaths

Education expenditures

1.5% of GDP (2017)

Unemployment, youth ages 15-24

total: 26.6%

male: 25.7%

female: 27.9% (2016 est.)

Government :: Monaco

Country name

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

constitutional monarchy

Capital

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

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

1419 (beginning of permanent rule by the House of GRIMALDI)

National holiday

National Day (Saint Rainier’s Day), 19 November (1857)

Constitution

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

Legal system

civil law system influenced by French legal tradition

International law organization participation

has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt

Citizenship

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

18 years of age; universal

Executive branch

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

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

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

Horizon Monaco [Laurent NOUVION]
Priorite Monaco [Stephane VALERI]
Renaissance [SBM (public corporation)]
Union Monegasque [Jean-Francois ROBILLON]

International organization participation

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

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

the 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

Flag description

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)

red and white lozenges (diamond shapes); national colors: red, white

National anthem

None

Economy :: Monaco

Economy – overview

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 OECDs 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)

$7.672 billion (2015 est.)
$7.279 billion (2014 est.)
$6.79 billion (2013 est.)

note: data are in 2015 US dollars

GDP (official exchange rate)

$6.006 billion (2015 est.)

GDP – real growth rate

5.4% (2015 est.)
7.2% (2014 est.)
9.6% (2013 est.)

GDP – per capita (PPP)

$115,700 (2015 est.)
$109,200 (2014 est.)
$101,900 (2013 est.)

GDP – composition, by sector of origin

agriculture: 0% (2013)

industry: 14% (2013)

services: 86% (2013)

Agriculture – products

none

Industries

banking, insurance, tourism, construction, small-scale industrial and consumer products

Industrial production growth rate

6.8% (2015)

Labor force

52,000 (2014 est.)

note: includes all foreign workers

Labor force – by occupation

agriculture: 0%

industry: 16.1%

services: 83.9% (2012 est.)

Unemployment rate

2% (2012)

Population below poverty line

Household income or consumption by percentage share

lowest 10%: NA
highest 10%: NA

Budget

revenues: 896.3 million (2011 est.)

expenditures: 953.6 million (2011 est.)

Taxes and other revenues

14.9% (of GDP) (2011 est.)

Budget surplus (+) or deficit (-)

-1% (of GDP) (2011 est.)

Fiscal year

calendar year

Inflation rate (consumer prices)

1.5% (2010)

Exports

$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

Imports

$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

Debt – external

Exchange rates

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

electrification – total population: 100% (2016)

Communications :: Monaco

Telephones – fixed lines

total subscriptions: 43,374

subscriptions per 100 inhabitants: 141 (2018 est.)

Telephones – mobile cellular

total subscriptions: 32,689

subscriptions per 100 inhabitants: 106 (2018 est.)

Telecommunication systems

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 141 per 100 and mobile-cellular teledensity exceeds 106 per 100 persons (2018)

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

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

.mc

Internet users

total: 29,821

percent of population: 97.05% (July 2018 est.)

Broadband – fixed subscriptions

total: 19,822

subscriptions per 100 inhabitants: 65 (2018 est.)

Military and Security :: Monaco

Military and security forces

no regular military forces; Ministry of Interior: Compagnie des Carabiniers du Prince (Princes Company of Carabiniers (Palace Guard)), Corps des Sapeurs-pompiers de Monaco (Fire and Emergency), Police Department (2019)

Military – note

defense is the responsibility of France

Transportation :: Monaco

Civil aircraft registration country code prefix

3A (2016)

Heliports

1 (2012)

Railways

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

major seaport(s): Hercules Port

Transnational Issues :: Monaco

Disputes – international

none

Source: https://www.cia.gov