Principality of Monaco: GDP + 9,3%, Italian exports also up
The Monégasque economy registered an increase in real terms of 9.3% in 2013 and the trend held through 2014. All services sectors contributed solidly to this result, but those that stood out in particular were scientific and technical services, administrative support for businesses (+5.9%) and financial and insurance services (8.7%), which together account for one third of the Principality’s combined wealth. The greatest increase was seen in real estate (+21.3%) which accounts for 8.4% of GDP, followed by the sectors of industry (+20.8%) and construction (16.4%) consequent to major infrastructure projects completed over the past three years that included 6 tunnels, and some major real estate construction projects still under way. An extension project is set to begin soon and include the construction of 6 hectares of island in the adjacent sea. Others of Monaco’s leading sectors include tourism-hotels and restaurants (+11.3%) wholesale commerce (9.7%). Per capita income for dependent employees rose by 6.8% in 2013 to EUR 97,227. Italy is a Monaco’s top economic-trade partner, with 2013 exports reaching a total 204.9 million euro, and the positive export trend (+4.6% over the previous year) was confirmed in the first 9 months of 2014 at 215.9 million euro. Principal products included, auto, ship and boat parts, textiles, apparel, leather and footwear, rubber products, plastics and other non-metallic mineral products, various manufactured goods, food/wine and chemical products.
Source: infoMercatiEsteri