The Gross Domestic Product (GDP) in Monaco expanded 5 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Monaco averaged 4.39 percent from 2006 until 2023, reaching an all time high of 22.20 percent in 2021 and a record low of -13.20 percent in 2020. source: Monaco Statistics

GDP Annual Growth Rate in Monaco is expected to reach 2.50 percent by the end of 2025, 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 2.00 percent in 2026 and 3.90 percent in 2027, according to our econometric models.



Related Last Previous Unit Reference
GDP 10.00 8.80 USD Billion Dec 2023
GDP Annual Growth Rate 5.00 11.00 percent Dec 2023
GDP Constant Prices 9244.10 8357.10 EUR Million Dec 2023



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
5.00 11.00 22.20 -13.20 2006 - 2023 percent Yearly