Monaco
Principality of MonacoPrincipaute de Monaco
constitutional monarchy
Monaco as the 2013 edition of the CIA World Factbook published it: 107 fields, one of 36 editions from 1990 to 2025.
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Introduction
1 fieldBackground
The Genoese built a fortress on the site of present day Monaco in 1215. The current ruling GRIMALDI family first seized temporary control in 1297, and again in 1331, but were not able to permanently secure their 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
Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy
18 fieldsLand useshare of 2 sq km
Location
Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy
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 Holy See); almost entirely urban
People and Society
28 fieldsAge structuremale left, female right · (2013 est.)
Per 1,000 population(2013 est.)
Male · female
Sex ratio
- at birth:
- 1.04 male(s)/female
- 0-14 years:
- 1.05 male(s)/female
- 15-24 years:
- 1.08 male(s)/female
- 25-54 years:
- 0.98 male(s)/female
- 55-64 years:
- 1.02 male(s)/female
- 65 years and over:
- 0.81 male(s)/female
- total population:
- 0.95 male(s)/female (2013 est.)
Government
Constitutional monarchy; Prince ALBERT II (since 6 April 2005); Minister of State Michel ROGER (since 29 March 2010)
20 fieldsPresidential electionpercent of vote
National Council or Conseil National, 24 seats, elected 10 February 2013one dot, one seat
Percent of vote
Country name
- conventional long form:
- Principality of Monaco
- conventional short form:
- Monaco
- local long form:
- Principaute de Monaco
- local short form:
- Monaco
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 four 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
International law organization participation
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Executive branch
- chief of state:
- Prince ALBERT II (since 6 April 2005)
- head of government:
- Minister of State Michel ROGER (since 29 March 2010)
- cabinet:
- Council of Government under the authority of the monarch; (For more information visit theWorld Leaders website)
- 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
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 on 10 February 2013 (next to be held in February 2018)
- election results:
- percent of vote by party - Horizon Monaco 50.3%, Union Monegasque 39%, Renaissance 10.7%; seats by party - Horizon Monaco 20, Union Monegasque 3, Renaissance 1
Judicial branch
- highest court(s):
- 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]
- Renaissance [SBM (corporation)]
- Union Monegasque [Stephane VALERI]
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
- 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
- the US does not have an embassy in Monaco;
- the US Ambassador to France, currently Ambassador Charles H. RIVKIN, 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
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
Economy
Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate.
23 fieldsGDP - composition, by sector of origin(2011)
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 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's reliance on tourism and banking for its economic growth has left it vulnerable to a downturn 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 with GDP growth of 2.5%, but Monaco''s economic prospects remain clouded in uncertainty tied to future euro-zone growth. Weak economic growth also has deteriorated public finances as the principality recorded a budget deficit of 1.3% of GDP in 2012.
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. 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.
Labor force
50,580 country comparison to the world: 191 note: includes workers from all foreign countries (2011 est.)
Exports
$864.6 million (2011) · $684.9 million (2010) country comparison to the world: 162 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
$847.9 million (2011) · $850.2 million (2010) country comparison to the world: 183 note: full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France
Exchange rates
euros (EUR) per US dollar - 0.78 (2012 est.) · 0.72 (2011 est.) · 0.76 (2010 est.) · 0.72 (2009 est.) · 0.68 (2008 est.)
Communications
7 fieldsTelephone system
- general assessment:
- modern automatic telephone system; the country's sole fixed line operator offers a full range of services to residential and business customers
- domestic:
- combined fixed-line and mobile-cellular teledensity exceeds 200 per 100 persons
- international:
- country code - 377;
- no satellite earth stations;
- connected by cable into the French communications system (2011)
Broadcast media
- TV Monte-Carlo (TMC) 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 (2012)
Transportation
4 fieldsMerchant marine
registered in other countries: 64 (Bahamas 8, Bermuda 2, Liberia 8, Malta 3, Marshall Islands 30, Panama 11, Saint Vincent and the Grenadines 2) (2010) country comparison to the world: 63
Military
No regular military forces; Directorate of Public Security (2012)
5 fieldsTransnational Issues
1 fieldCite this entry
Central Intelligence Agency. “Monaco.” The World Factbook 2013. Archived by The Factbook, thefactbook.org/monaco/2013.