Monaco

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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 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

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

Area 254/257

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

mean elevation:

elevation extremes:

lowest point: Mediterranean Sea 0 m

highest point: Mont Agel 140 m

Natural resources

none

Land use

agricultural land: 1%

arable land 0%; permanent crops 1%; permanent pasture 0%

forest: 0%

other: 99% (2011 est.)

Irrigated land

0 sq km (2012)

Natural hazards

NA

Environment - current issues

NA

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); smallest country with a coastline; almost entirely urban

People and Society

Nationality

noun: Monegasque(s) or Monacan(s)

adjective: Monegasque or Monacan

Ethnic groups

French (official) 47%, Monegasque 16%, Italian 16%, other 21%

Languages

French (official), English, Italian, Monegasque

Religions

Roman Catholic 90% (official), other 10%

Population 218/238

30,535

note: immigrants make up more than 60% of the total population, according to UN data (2013) (July 2015 est.)

Age structure

0-14 years: 11.41% (male 1,793/female 1,692)

15-24 years: 9.03% (male 1,420/female 1,337)

25-54 years: 34.47% (male 5,239/female 5,286)

55-64 years: 14.71% (male 2,255/female 2,238)

65 years and over: 30.37% (male 4,146/female 5,129) (2015 est.)

Median age

total: 51.7 years

male: 50.6 years

female: 53 years (2015 est.)

Population growth rate 187/233

0.12% (2015 est.)

Birth rate 224/224

6.65 births/1,000 population (2015 est.)

Death rate 63/225

9.24 deaths/1,000 population (2015 est.)

Net migration rate 35/222

3.83 migrant(s)/1,000 population (2015 est.)

Urbanization

urban population: 100% of total population (2015)

rate of urbanization: 0.79% annual rate of change (2010-15 est.)

Major urban areas - population

MONACO (capital) 38,000 (2014)

Sex ratio

at birth: 1.04 male(s)/female

0-14 years: 1.06 male(s)/female

15-24 years: 1.06 male(s)/female

25-54 years: 0.99 male(s)/female

55-64 years: 1.01 male(s)/female

65 years and over: 0.81 male(s)/female

total population: 0.95 male(s)/female (2015 est.)

Infant mortality rate 224/224

total: 1.82 deaths/1,000 live births

male: 2.06 deaths/1,000 live births

female: 1.57 deaths/1,000 live births (2015 est.)

Life expectancy at birth 1/224

total population: 89.52 years

male: 85.63 years

female: 93.58 years (2015 est.)

Total fertility rate 193/224

1.52 children born/woman (2015 est.)

Health expenditures 155/191

4% of GDP (2013)

Physicians density

7.17 physicians/1,000 population (2012)

Hospital bed density

13.8 beds/1,000 population (2012)

Drinking water source

improved:

urban: 100% of population

total: 100% of population

unimproved:

urban: 0% of population

total: 0% of population (2015 est.)

Sanitation facility access

improved:

urban: 100% of population

total: 100% of population

unimproved:

urban: 0% of population

total: 0% of population (2015 est.)

HIV/AIDS - adult prevalence rate

NA

HIV/AIDS - people living with HIV/AIDS

NA

HIV/AIDS - deaths

NA

Education expenditures 169/173

1.6% of GDP (2011)

Government

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

previous 1911 (suspended 1959); latest adopted 17 December 1962; amended 2002 (2015)

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 Michel ROGER (since 29 March 2010)

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 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 (public corporation)]

Union Monegasque [Jean-Francois ROBILLON]

Political pressure groups and leaders

NA

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

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

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

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 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 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 and intensified in 2013, with GDP growth of more than 9%, but Monaco's economic prospects remain uncertain, and tied to future euro-zone growth.

GDP (purchasing power parity) 167/230

$6.79 billion (2013 est.)

$6.213 billion (2012 est.)

$5.748 billion (2011 est.)

note: data are in 2012 US dollars

GDP (official exchange rate)

$6.063 billion (2013 est.)

GDP - real growth rate 4/225

9.3% (2013 est.)

1.2% (2012)

7% (2011)

GDP - per capita (PPP) 9/230

$78,700 (2013 est.)

$73,200 (2012)

$72,600 (2011)

GDP - composition, by sector of origin

agriculture: 0%

industry: 14%

services: 86% (2013)

Agriculture - products

none

Industries

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

Industrial production growth rate 1/202

20% (2013)

Labor force 191/233

52,000

note: includes all foreign workers (2014 est.)

Labor force - by occupation

agriculture: 0%

industry: 16.1%

services: 83.9% (2012 est.)

Unemployment rate 12/207

2% (2012)

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA%

highest 10%: NA%

Budget

revenues: $1.075 billion

expenditures: $1.144 billion (2011 est.)

Taxes and other revenues 175/219

17.7% of GDP (2011 est.)

Budget surplus (+) or deficit (-) 55/220

-1.1% of GDP (2011 est.)

Fiscal year

calendar year

Inflation rate (consumer prices) 88/226

1.5% (2010)

Market value of publicly traded shares

$NA

Exports 157/224

$1.115 billion (2011)

$684.9 million (2010)

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

Exports - partners

Europe 73.2%, Africa 14.6%, America 5.2%, Asia 4.9% (2013 est.)

Imports 175/223

$1.162 billion (2011)

$850.2 million (2010)

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 - partners

Europe 70.4%, Asia 20.8%, America 4.4%, Africa 4.1% (2013 est.)

Debt - external

$NA

Exchange rates

euros (EUR) per US dollar -

0.89 (2015 est.)

0.75 (2014 est.)

0.76 (2013 est.)

0.78 (2012 est.)

0.72 (2011 est.)

Communications

Telephones - fixed lines 162/219

total subscriptions: 50,600

subscriptions per 100 inhabitants: 166 (2014 est.)

Telephones - mobile cellular 207/217

total: 33,700

subscriptions per 100 inhabitants: 110 (2014 est.)

Telephone 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)

Radio broadcast stations

AM 1, FM 11, shortwave 1 (2008)

Television broadcast stations

5 (1998)

Internet country code

.mc

Internet hosts 111/232

26,009 (2012)

Internet users 199/217

total: 27,400

percent of population: 89.9% (2014 est.)

Transportation

Heliports

1 (2012)

Roadways 218/223

total: 77 km

paved: 77 km (2010)

Merchant marine 63/156

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)

Ports and terminals

major seaport(s): Monaco

Military and Security

Military branches

no regular military forces; Directorate of Public Security (2012)

Transnational Issues

Disputes - international

none