Monaco uses the Euro on the basis of a formal arrangement with the European Community.
According to Monegasque Institute for Statistics and Economic Studies, nominal GDP of Monaco in 2020 was 6.0 bln EUR.
Monaco outperforms the European Union in terms of real GDP growth with the average annual differential coming to 1.4% over the past 10 years (2010 - 2020). In 2020 real GDP growth was -11.8% which was below the Euro Area average (-6.6%) and below the European Union average (-5.6%).
Chart 1. Real GDP Growth in Monaco. Source: Monegasque Institute for Statistics and Economic Studies.
In 2020, nominal GDP per capita in Monaco was 69,380 EUR.
According to Monegasque Institute for Statistics and Economic Studies, unemployment rate in Monaco in 2015 was 0.0% which was below the Euro Area average (10.9%) and below the European Union average (9.4%).
Chart 2. Unemployment Rate in Monaco. Source: Monegasque Institute for Statistics and Economic Studies.
Monaco doesn't have sovereign credit ratings assigned by American credit rating agencies Fitch or Moody's. Scope Ratings, the European rating agency, have not assigned credit ratings to Monaco.
Fitch and Moody's rating data are provided for September 2023, Scope Ratings for November 2024.
