Monaco Economy 2013 – the Monégasque Tiger


The Monaco Office of Statistics has recently released the figures on the Monaco economy for the 2013 year. The GDP of the Principality continues its strong growth with an impressive increase of almost of almost 10% in real terms to a total GDP of €4.93billion.

Monaco GDP per capita is €64,082, an increase in real terms of +6.7%. Monaco GDP per employee is €97,227, an increase of +6.8% in real terms.

The performance of Monaco is all the more impressive against a stagnant economy across Europe and its immediate neighbour France, with Italy recording a decline during the year.

In 2012 the economy expanded beyond the 2008 pre-crisis levels and the figures for 2013 demonstrate that the trend continues the well-established recovery.

The strength of Monaco’s diversified economy contributed to the expansion with growth recorded in all sectors. The two largest sectors, financial services and scientific and technical services continued their strong growth, comprising 33.4% of economic activity. Real estate activity, which makes up 8.4% of economic activity, bounced back recording 21.3% growth over the year and construction expanding by 16.4%.

With economic growth, the number of employees working in Monaco has continued the increase seen in 2012, with 50,800 employees recorded in employment by December 2013.