Exchange Rate Home >> Country Info >> Monaco
Monaco |
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Introduction
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Background:
The Genoese built a fortress on the site of present-day Monaco in 1215. The current ruling Grimaldi family secured control in the late 13th century, and a principality was established in 1338. 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.
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Geography
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Land boundaries:
total: 4.4 km border countries: France 4.4 km
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
Climate:
Mediterranean with mild, wet winters and hot, dry summers
Map references:
Europe
Geographic coordinates:
43 44 N, 7 24 E
Natural resources:
none
Elevation extremes:
lowest point: Mediterranean Sea 0 m highest point: Mont Agel 140 m
Terrain:
hilly, rugged, rocky
Geography - note:
second-smallest independent state in the world (after Holy See); almost entirely urban
Area:
total: 1.95 sq km land: 1.95 sq km water: 0 sq km
Location:
Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy
Coastline:
4.1 km
Area - comparative:
about three times the size of The Mall in Washington, DC
Irrigated land:
NA
Environment - current issues:
NA
Maritime claims:
territorial sea: 12 nm exclusive economic zone: 12 nm
Natural hazards:
NA
Land use:
arable land: 0% permanent crops: 0% other: 100% (urban area) (2005)
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People
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Total fertility rate:
1.75 children born/woman (2008 est.)
Sex ratio:
at birth: 1.06 male(s)/female under 15 years: 1.05 male(s)/female 15-64 years: 0.98 male(s)/female 65 years and over: 0.69 male(s)/female total population: 0.91 male(s)/female (2008 est.)
HIV/AIDS - adult prevalence rate:
NA
HIV/AIDS - people living with HIV/AIDS:
NA
Life expectancy at birth:
total population: 79.96 years male: 76.14 years female: 83.97 years (2008 est.)
Literacy:
definition: age 15 and over can read and write total population: 99% male: 99% female: 99% (2003 est.)
Net migration rate:
7.62 migrant(s)/1,000 population (2008 est.)
Ethnic groups:
French 47%, Monegasque 16%, Italian 16%, other 21%
Median age:
total: 45.5 years male: 43.5 years female: 47.5 years (2008 est.)
Population:
32,796 (July 2008 est.)
Education expenditures:
4.4% of GDP (2004)
Population growth rate:
0.375% (2008 est.)
Languages:
French (official), English, Italian, Monegasque
Death rate:
12.96 deaths/1,000 population (2008 est.)
Infant mortality rate:
total: 5.18 deaths/1,000 live births male: 6 deaths/1,000 live births female: 4.33 deaths/1,000 live births (2008 est.)
HIV/AIDS - deaths:
NA
Age structure:
0-14 years: 14.8% (male 2,488/female 2,369) 15-64 years: 62.4% (male 10,110/female 10,353) 65 years and over: 22.8% (male 3,048/female 4,428) (2008 est.)
Birth rate:
9.09 births/1,000 population (2008 est.)
Religions:
Roman Catholic 90%, other 10%
Nationality:
noun: Monegasque(s) or Monacan(s) adjective: Monegasque or Monacan
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Government
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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 routine diplomatic and consular matters concerning Monaco
National holiday:
National Day (Saint Rainier's Day), 19 November (1857)
Suffrage:
18 years of age; universal
Government type:
constitutional monarchy
Political pressure groups and leaders:
NA
Diplomatic representation in the US:
chief of mission: Ambassador to the US and UN Gilles NOGHES chancery: 2314 Wyoming Avenue NW, Washington, DC 20008 telephone: (202) 234-1530 FAX: (202) 552-5778
International organization participation:
CE, FAO, IAEA, ICAO, ICC, ICCt (signatory), ICRM, IFRCS, IHO, IMO, IMSO, Interpol, IOC, IPU, ITSO, ITU, OIF, OPCW, OSCE, Schengen Convention, UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WFTU, WHO, WIPO, WMO
Legislative branch:
unicameral National Council or Conseil National (24 seats; 16 members elected by list majority system, 8 by proportional representation; to serve five-year terms) elections: last held 3 February 2008 (next to be held February 2013) election results: percent of vote by party - UPM 52.2%, REM 40.5%, Monaco Together 7.3%; seats by party - UPM 21, REM 3
Legal system:
based on French law; has not accepted compulsory ICJ jurisdiction
Flag description:
two equal horizontal bands of red (top) and white; similar to the flag of Indonesia which is longer and the flag of Poland which is white (top) and red
Independence:
1419 (beginning of rule by the House of Grimaldi)
Country name (Goverment):
conventional long form: Principality of Monaco conventional short form: Monaco local long form: Principaute de Monaco local short form: Monaco
Political parties and leaders:
Union for Monaco or UPM (including National Union for the Future of Monaco or UNAM); Rally and Issues for Monaco or REM; Monaco Together
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
Constitution:
17 December 1962; modified 2 April 2002
Executive branch:
chief of state: Prince ALBERT II (since 6 April 2005) head of government: Minister of State Jean-Paul PROUST (since 1 June 2005) cabinet: Council of Government is under the authority of the monarch elections: the monarchy is hereditary; minister of state appointed by the monarch from a list of three French national candidates presented by the French Government
Administrative divisions:
none; there are no first-order administrative divisions as defined by the US Government, but there are four quarters (quartiers, singular - quartier); Fontvieille, La Condamine, Monaco-Ville, Monte-Carlo
Judicial branch:
Supreme Court or Tribunal Supreme (judges appointed by the monarch on the basis of nominations by the National Council)
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Economy
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Electricity - consumption:
NA kWh
Electricity - imports:
NA kWh; note - electricity supplied by France
Debt - external:
$18 billion (2000 est.)
Unemployment rate:
0% (2005)
GDP - per capita (PPP):
$30,000 (2006 est.)
GDP (purchasing power parity):
$976.3 million note: Monaco does not publish national income figures; the estimates are extremely rough (2006 est.)
GDP (official exchange rate):
$NA
Exchange rates:
euros (EUR) per US dollar - 0.6734 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004)
GDP - real growth rate:
0.9% (2000 est.)
Labor force:
44,000 note: includes workers from all foreign countries (2005 est.)
Inflation rate (consumer prices):
1.9% (2000)
GDP - composition by sector:
agriculture: 0% industry: 4.9% services: 95.1% (2005)
Exports:
$716.3 million note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France (2005)
Currency (code):
euro (EUR)
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 major banking center and has successfully sought to diversify into services and small, high-value-added, nonpolluting industries. 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. 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.
Industries:
tourism, construction, small-scale industrial and consumer products
Population below poverty line:
NA%
Imports:
$916.1 million note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France (2005)
Market value of publicly traded shares:
$NA
Currency code:
EUR
Household income or consumption by percentage share:
lowest 10%: NA% highest 10%: NA%
Economic aid - recipient:
$NA
Budget:
revenues: $863 million expenditures: $920.6 million (2005 est.)
Fiscal year:
calendar year
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Communications
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Internet users:
20,000 (2006)
Telephones - main lines in use:
34,000 (2005)
Televisions:
25,000 (1997)
Internet country code:
.mc
Radio broadcast stations:
AM 1, FM NA, shortwave 8 (1998)
Radios:
34,000 (1997)
Telephones - mobile cellular:
17,200 (2005)
Television broadcast stations:
5 (1998)
Telephone system:
general assessment: modern automatic telephone system domestic: NA international: country code - 377; no satellite earth stations; connected by cable into the French communications system
Internet Service Providers (ISPs):
2 (2000)
Internet hosts:
21,058 (2008)
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Transportation
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Ports and terminals:
Monaco
Heliports:
1 (2007)
Merchant marine:
registered in other countries: 70 (Bahamas 15, Georgia 4, Isle of Man 3, Liberia 8, Marshall Islands 13, Norway 5, Panama 16, Saint Vincent and the Grenadines 5, Vanuatu 1) (2008)
Roadways:
total: 50 km paved: 50 km (2007)
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Military
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Manpower available for military service:
males age 16-49: 6,687 (2008 est.)
Military - note:
defense is the responsibility of France
Manpower fit for military service:
males age 16-49: 5,376 (2008 est.)
Military branches:
no regular military forces; the Palace Guard performs ceremonial duties
Manpower reaching militarily significant age annually:
male: 191 female: 182 (2008 est.)
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Transnational Issues
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Disputes - international:
none
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