Key data points
Last release
—
Observation period
2023
Next release
—
Forecast
—
Highest
21.90 % on Dec 31, 2021
Lowest
−13.00 % on Dec 31, 2020
About Monaco GDP YoY
Monaco is a small city-state in Western Europe known for its casino, high-value tourism and tax haven status. The most important sector of the economy is services, accounting for over 95 percent of GDP. One third of Monaco’s GDP is produced by two sectors: scientific and technical activities, administrative and support services (17 percent); and financial and insurance activities (17 percent). Real estate sector accounts for 8.4 percent of GDP and has become the third biggest contributor to GDP in recent years. Tourism is also an important source of revenue as Monaco hosts various events, such as the Formula One Grand Prix, and is home to the famous Monte-Carlo Casino. A large part of the labour force commutes to work from outside Monaco every day.