The Gross Domestic Product (GDP) in Monaco contracted 11.80 percent in the fourth quarter of 2020 over the same quarter of the previous year. source: Monaco Statistics

GDP Annual Growth Rate in Monaco averaged 2.84 percent from 2006 until 2020, reaching an all time high of 14.40 percent in 2007 and a record low of -11.80 percent in 2020. This page provides - Monaco GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Monaco GDP Annual Growth Rate - values, historical data and charts - was last updated on June of 2022.

GDP Annual Growth Rate in Monaco is expected to reach 3.90 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Monaco GDP Annual Growth Rate is projected to trend around 3.90 percent in 2023 and 3.30 percent in 2024, according to our econometric models.

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Monaco GDP Annual Growth Rate



Related Last Previous Unit Reference
GDP Annual Growth Rate -11.80 6.90 percent Dec 2020
GDP Constant Prices 5967.60 6595.90 EUR Million Dec 2020

Monaco GDP Annual Growth Rate
Monaco is a small city-state in Western Europe known for its casino, high-value tourism and tax haven status. The most important sector of the economy is services, accounting for over 95 percent of GDP. One third of Monaco’s GDP is produced by two sectors: scientific and technical activities, administrative and support services (17 percent); and financial and insurance activities (17 percent). Real estate sector accounts for 8.4 percent of GDP and has become the third biggest contributor to GDP in recent years. Tourism is also an important source of revenue as Monaco hosts various events, such as the Formula One Grand Prix, and is home to the famous Monte-Carlo Casino. A large part of the labour force commutes to work from outside Monaco every day.
Actual Previous Highest Lowest Dates Unit Frequency
-11.80 6.90 14.40 -11.80 2006 - 2020 percent Yearly