Gdp: Na

Inflation rate (consumer prices): NA%

Unemployment rate: NA%

Budget: revenues NA; expenditures $37.3 million, including capital expenditures of NA (1985)

Exports: $4.0 million (f.o.b., 1984); commodities—ylang-ylang, vanilla; partners—France 79%, Comoros 10%, Reunion 9%

Imports: $21.8 million (f.o.b., 1984); commodities—building materials, transportation equipment, rice, clothing, flour; partners—France 57%, Kenya 16%, South Africa 11%, Pakistan 8%

External debt: $NA

Industrial production: growth rate NA%

Electricity: NA kW capacity; NA million kWh produced, NA kWh per capita

Industries: newly created lobster and shrimp industry

Agriculture: most important sector; provides all export earnings; crops—vanilla, ylang-ylang, coffee, copra; imports major share of food needs

Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $287.8 million

Currency: French franc (plural—francs); 1 French franc (F) = 100 centimes

Exchange rates: French francs (F) per US$1—5.7598 (January 1990), 6.3801 (1989), 5.9569 (1988), 6.0107 (1987), 6.9261 (1986), 8.9852 (1985)

Fiscal year: calendar year

- Communications
Highways: 42 km total; 18 km bituminous

Civil air: no major transport aircraft

Airports: 1 with permanent-surface runway 1,220-2,439 m

Ports: Dzaoudzi

Telecommunications: small system administered by French Department of Posts and Telecommunications; includes radio relay and high-frequency radio communications for links with Comoros and international communications; 450 telephones; stations—1 AM, no FM, no TV

- Defense Forces
Note: defense is the responsibility of France
——————————————————————————
Country: Mexico
- Geography
Total area: 1,972,550 km2; land area: 1,923,040 km2

Comparative area: slightly less than three times the size of Texas

Land boundaries: 4,538 km total; Belize 250 km, Guatemala 962 km,
US 3,326 km

Coastline: 9,330 km

Maritime claims:

Contiguous zone: 24 nm;

Continental shelf: natural prolongation of continental margin or 200 nm;

Extended economic zone: 200 nm;

Territorial sea: 12 nm

Climate: varies from tropical to desert

Terrain: high, rugged mountains, low coastal plains, high plateaus, and desert

Natural resources: crude oil, silver, copper, gold, lead, zinc, natural gas, timber

Land use: 12% arable land; 1% permanent crops; 39% meadows and pastures; 24% forest and woodland; 24% other; includes 3% irrigated

Environment: subject to tsunamis along the Pacific coast and destructive earthquakes in the center and south; natural water resources scarce and polluted in north, inaccessible and poor quality in center and extreme southeast; deforestation; erosion widespread; desertification; serious air pollution in Mexico City and urban centers along US-Mexico border

Note: strategic location on southern border of US

- People
Population: 87,870,154 (July 1990), growth rate 2.2% (1990)

Birth rate: 29 births/1,000 population (1990)

Death rate: 5 deaths/1,000 population (1990)

Net migration rate: - 2 migrants/1,000 population (1990)

Infant mortality rate: 33 deaths/1,000 live births (1990)

Life expectancy at birth: 68 years male, 76 years female (1990)

Total fertility rate: 3.4 children born/woman (1990)

Nationality: noun—Mexican(s); adjective—Mexican

Ethnic divisions: 60% mestizo (Indian-Spanish), 30% Amerindian or predominantly Amerindian, 9% white or predominantly white, 1% other

Religion: 97% nominally Roman Catholic, 3% Protestant

Language: Spanish

Literacy: 88%

Labor force: 26,100,000 (1988); 31.4% services; 26% agriculture, forestry, hunting, and fishing, 13.9% commerce, 12.8% manufacturing, 9.5% construction, 4.8% transportation, 1.3% mining and quarrying, 0.3% electricity, (1986)

Organized labor: 35% of labor force

- Government
Long-form name: United Mexican States

Type: federal republic operating under a centralized government

Capital: Mexico

Administrative divisions: 31 states (estados, singular—estado) and
1 federal district* (distrito federal); Aguascalientes, Baja California Norte,
Baja California Sur, Campeche, Chiapas, Chihuahua, Coahuila, Colima,
Distrito Federal*, Durango, Guanajuato, Guerrero, Hidalgo, Jalisco, Mexico,
Michoacan, Morelos, Nayarit, Nuevo Leon, Oaxaca, Puebla, Queretaro,
Quintana Roo, San Luis Potosi, Sinaloa, Sonora, Tabasco, Tamaulipas, Tlaxcala,
Veracruz, Yucatan, Zacatecas

Independence: 16 September 1810 (from Spain)

Constitution: 5 February 1917

Legal system: mixture of US constitutional theory and civil law system; judicial review of legislative acts; accepts compulsory ICJ jurisdiction, with reservations

National holiday: Independence Day, 16 September (1810)

Executive branch: president, Cabinet

Legislative branch: bicameral National Congress (Congreso de la Union) consists of an upper chamber or Senate (Camara de Senadores) and a lower chamber or Chamber of Deputies (Camara de Diputados)

Judicial branch: Supreme Court of Justice (Suprema Corte de Justicia)

Leaders:
Chief of State and Head of Government—President Carlos SALINAS de
Gortari (since 1 December 1988)

Political parties and leaders: (recognized parties) Institutional
Revolutionary Party (PRI), Luis Donaldo Colosio Murrieta; National Action
Party (PAN), Luis Alvarez; Popular Socialist Party (PPS), Indalecio Sayago
Herrera; Democratic Revolutionary Party (PRD), Cuauhtemoc Cardenas;
Cardenist Front for the National Reconstruction Party (PFCRN), Rafael
Aguilar Talamantes; Authentic Party of the Mexican Revolution (PARM),
Carlos Enrique Cantu Rosas

Suffrage: universal and compulsory (but not enforced) at age 18

Elections: President—last held on 6 July 1988 (next to be held September 1994); results—Carlos Salinas de Gortari (PRI) 50.74%, Cuauhtemoc Cardemas Solorzano (FDN) 31.06%, Manuel Clouthier (PAN) 16.81%; others 1.39%; note—several of the smaller parties ran a common candidate under a coalition called the National Democratic Front (FDN)

Senate—last held on 6 July 1988 (next to be held September 1991); results—PRI 94%, FDN (now PRD) 6%; seats—(64 total) number of seats by party NA;

Chamber of Deputies—last held on 6 July 1988 (next to be held September 1991); results—PRI 53%, PAN 20%, PFCRN 10%, PPS 6%, PARM 7%, PMS (now part of PRD) 4%; seats—(500 total) number of seats by party NA

Other political or pressure groups: Roman Catholic Church, Confederation
of Mexican Workers (CTM), Confederation of Industrial Chambers (CONCAMIN),
Confederation of National Chambers of Commerce (CONCANACO), National Peasant
Confederation (CNC), National Confederation of Popular Organizations (CNOP),
Revolutionary Workers Party (PRT), Mexican Democratic Party (PDM),
Revolutionary Confederation of Workers and Peasants (CROC), Regional
Confederation of Mexican Workers (CROM), Confederation of Employers of
the Mexican Republic (COPARMEX), National Chamber of Transformation
Industries (CANACINTRA), Business Coordination Council (CCE)

Member of: FAO, G-77, GATT, Group of Eight, IADB, IAEA, IBRD, ICAC, ICAO,
ICO, IDA, IDB—Inter-American Development Bank, IFAD, IFC, ILO, ILZSG, IMF, IMO,
INTELSAT, INTERPOL, IRC, ISO, ITU, IWC—International Whaling Commission, LAIA,
OAS, PAHO, SELA, UN, UNESCO, UPU, WHO, WIPO, WMO, WSG, WTO

Diplomatic representation: Ambassador Gustavo PETRICIOLI Iturbide;
Chancery at 1911 Pennsylvania Avenue NW, Washington DC 20006; telephone
(202) 728-1600;
there are Mexican Consulates General in Chicago, Dallas, Denver, El Paso,
Houston, Los Angeles, New Orleans, New York, San Francisco, San Antonio,
San Diego, and Consulates in Albuquerque, Atlanta, Austin, Boston, Brownsville
(Texas), Calexico (California), Corpus Christi, Del Rio (Texas), Detroit,
Douglas (Arizona), Eagle Pass (Texas), Fresno (California), Kansas City
(Missouri), Laredo, McAllen (Texas), Miami, Nogales (Arizona), Oxnard
(California), Philadelphia, Phoenix, Presidio (Texas), Sacramento, St. Louis,
St. Paul (Minneapolis), Salt Lake City, San Bernardino, San Jose, San Juan
(Puerto Rico), and Seattle;
US—Ambassador John D. NEGROPONTE, Jr.; Embassy at Paseo de la
Reforma 305, Mexico 5, D.F. (mailing address is P. O. Box 3087, Laredo, TX
78044); telephone (5) 211-0042; there are US Consulates General in
Ciudad Juarez, Guadalajara, Monterrey, and Tijuana, and Consulates in
Hermosillo, Matamoros, Mazatlan, Merida, and Nuevo Laredo

Flag: three equal vertical bands of green (hoist side), white, and red; the coat of arms (an eagle perched on a cactus with a snake is its beak) is centered in the white band

- Economy Overview: Mexico's economy is a mixture of state-owned industrial plants (notably oil), private manufacturing and services, and both large-scale and traditional agriculture. In the 1980s Mexico experienced severe economic difficulties: the nation accumulated large external debts as world petroleum prices fell; rapid population growth outstripped the domestic food supply; and inflation, unemployment, and pressures to emigrate became more acute. Growth in national output dropped from 8% in 1980 to 1.1% in 1988 and 2.5% in 1989. The US is Mexico's major trading partner, accounting for two-thirds of its exports and imports. After petroleum, border assembly plants and tourism are the largest earners of foreign exchange. The government, in consultation with international economic agencies, is implementing programs to stabilize the economy and foster growth.

GDP: $187.0 billion, per capita $2,165; real growth rate 2.5% (1989)

Inflation rate (consumer prices): 20% (1989)

Unemployment rate: 20% (1989 est.)

Budget: revenues $36.1 billion; expenditures $56.1 billion, including capital expenditures of $7.7 biilion (1988)

Exports: $23.1 billion (f.o.b., 1989); commodities—crude oil, oil products, coffee, shrimp, engines, cotton; partners—US 66%, EC 16%, Japan 11%

Imports: $23.3 billion (c.i.f., 1989); commodities—grain, metal manufactures, agricultural machinery, electrical equipment; partners—US 62%, EC 18%, Japan 10%

External debt: $95.1 billion (1989)

Industrial production: growth rate 1.3% (1988)

Electricity: 26,900,000 kW capacity; 103,670 million kWh produced, 1,200 kWh per capita (1989)

Industries: food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, transportation equipment, tourism

Agriculture: accounts for 9% of GDP and over 25% of work force; large number of small farms at subsistence level; major food crops—corn, wheat, rice, beans; cash crops—cotton, coffee, fruit, tomatoes; fish catch of 1.4 million metric tons among top 20 nations (1987)

Illicit drugs: illicit cultivation of opium poppy and cannabis continues in spite of government eradication efforts; major link in chain of countries used to smuggle cocaine from South American dealers to US markets

Aid: US commitments, including Ex-Im (FY70-88), $3.0 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $6.8 billion; Communist countries (1970-88), $110 million

Currency: Mexican peso (plural—pesos); 1 Mexican peso (Mex$) = 100 centavos

Exchange rates: market rate of Mexican pesos (Mex$) per US$1—2,660.3 (January 1990), 2,461.3 (1989), 2,273.1 (1988), 1,378.2 (1987), 611.8 (1986), 256.9 (1985)

Fiscal year: calendar year

- Communications Railroads: 20,680 km total; 19,950 km 1.435-meter standard gauge; 730 km 0.914-meter narrow gauge

Highways: 210,000 km total; 65,000 km paved, 30,000 km semipaved or cobblestone, 60,000 km rural roads (improved earth) or roads under construction, 55,000 km unimproved earth roads

Inland waterways: 2,900 km navigable rivers and coastal canals

Pipelines: crude oil, 4,381 km; refined products, 8,345 km; natural gas, 13,254 km

Ports: Acapulco, Coatzacoalcos, Ensenada, Guaymas, Manzanillo,
Mazatlan, Progreso, Puerto Vallarta, Salina Cruz, Tampico, Veracruz

Merchant marine: 68 ships (1,000 GRT or over) totaling 1,041,229 GRT/1,552,478 DWT; includes 5 short-sea passenger, 10 cargo, 2 refrigerated cargo, 2 roll-on/roll-off cargo, 31 petroleum, oils, and lubricants (POL) tanker, 3 chemical tanker, 7 liquefied gas, 4 bulk, 4 combination bulk

Civil air: 174 major transport aircraft

Airports: 1,785 total, 1,484 usable; 190 with permanent-surface runways; 2 with runways over 3,659 m; 31 with runways 2,440-3,659 m; 259 with runways 1,220-2,439 m

Telecommunications: highly developed system with extensive radio relay links; connection into Central American Microwave System; 6.41 million telephones; stations—679 AM, no FM, 238 TV, 22 shortwave; 120 domestic satellite terminals; satellite earth stations—4 Atlantic Ocean INTELSAT and 1 Pacific Ocean INTELSAT

- Defense Forces
Branches: Army, Air Force, Navy, Marine Corps

Military manpower: males 15-49, 21,575,525; 15,803,322 fit for military service; 1,118,046 reach military age (18) annually

Defense expenditures: 0.5% of GDP (1987) —————————————————————————— Country: Micronesia, Federated States of - Geography Total area: 702 km2; land area: 702 km2; includes Pohnpei, Truk, Yap, and Kosrae

Comparative area: slightly less than four times the size of Washington, DC

Land boundaries: none

Coastline: 6,112 km

Maritime claims:

Extended economic zone: 200 nm;

Territorial sea: 12 nm

Climate: tropical; heavy year-round rainfall, especially in the eastern islands; located on southern edge of the typhoon belt with occasional severe damage

Terrain: islands vary geologically from high mountainous islands to low, coral atolls; volcanic outcroppings on Pohnpei, Kosrae, and Truk

Natural resources: forests, marine products, deep-seabed minerals

Land use: NA% arable land; NA% permanent crops; NA% meadows and pastures;
NA% forest and woodland; NA% other

Environment: subject to typhoons from June to December; four major island groups totaling 607 islands

Note: located 5,150 km west-southwest of Honolulu in the North Pacific
Ocean, about three-quarters of the way between Hawaii and Indonesia

- People
Population: 104,937 (July 1990), growth rate 2.6% (1990)

Birth rate: 34 births/1,000 population (1990)

Death rate: 5 deaths/1,000 population (1990)

Net migration rate: - 2 migrants/1,000 population (1990)

Infant mortality rate: 26 deaths/1,000 live births (1990)

Life expectancy at birth: 68 years male, 73 years female (1990)

Total fertility rate: 5.0 children born/woman (1990)

Nationality: noun—Micronesian(s); adjective—Micronesian;
Kosrae(s), Pohnpeian(s), Trukese, Yapese

Ethnic divisions: nine ethnic Micronesian and Polynesian groups

Religion: predominantly Christian, divided between Roman Catholic and
Protestant; other churches include Assembly of God, Jehovah's Witnesses,
Seventh-Day Adventist, Latter Day Saints, and the Baha'i Faith

Language: English is the official and common language; most indigenous
languages fall within the Austronesian language family, the exceptions are the
Polynesian languages; major indigenous languages are Trukese, Pohnpeian,
Yapese, and Kosrean

Literacy: NA%, but education compulsory through eight grades

Labor force: NA; two-thirds are government employees; 45,000 people are between the ages of 15 and 65

Organized labor: NA

- Government
Long-form name: Federated States of Micronesia (no short-form name)

Type: constitutional government in free association with the US; the
Compact of Free Association entered into force 3 November 1986

Capital: Kolonia (on the island of Pohnpei); note—a new capital is being built about 10 km southwest in the Palikir valley

Administrative divisions: 4 states; Kosrae, Pohnpei, Truk, Yap

Independence: 3 November 1986 (from the US-administered UN Trusteeship; formerly the Kosrae, Pohnpei, Truk, and Yap districts of the Trust Territory of the Pacific Islands)

Constitution: 10 May 1979

Legal system: based on adapted Trust Territory laws, acts of the legislature, municipal, common, and customary laws

National holiday: Proclamation of the Federated States of Micronesia, 10 May (1979)

Executive branch: president, vice president, Cabinet

Legislative branch: unicameral House of Representatives

Judicial branch: Supreme Court

Leaders: Chief of State and Head of Government—President John R. HAGLELGAM (since 11 May 1987); Vice President Hiroshi H. ISMAEL (since 11 May 1987)

Political parties and leaders: no formal parties

Suffrage: universal at age 18

Elections: President—last held 11 May 1987 (next to be held May 1991); results—John R. Haglelgam was elected;

House of Representatives—last held on NA (next to be held NA); results—percent of vote NA; seats—(NA total)

Communists: none

Member of: SPF, ESCAP (associate)

Diplomatic representation: Deputy Representative Jesse B. MAREHALAN; Representative Office at 706 G Street SE, Washington DC 20003; telephone (202) 544-2640; US—Representative Michael G. WYGANT; US Office at address NA, Kolonia (mailing address is P. O. Box 1286, Pohnpei, Federated States of Micronesia 96941); telephone 691-320-2187

Flag: light blue with four white five-pointed stars centered; the stars are arranged in a diamond pattern

- Economy Overview: Financial assistance from the US is the primary source of revenue, with the US pledged to spend $1 billion in the islands in the 1990s. Micronesia also earns about $4 million a year in fees from foreign commercial fishing concerns. Economic activity consists primarily of subsistence farming and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remoteness of the location and a lack of adequate facilities hinder development; note—GNP numbers reflect US spending.

GNP: $150 million, per capita $1,500; real growth rate NA% (1989 est.)

Inflation rate (consumer prices): NA%

Unemployment rate: 80%

Budget: revenues $110.8 million; expenditures NA, including capital expenditures of NA (1987 est.)

Exports: $1.6 million (f.o.b., 1983); commodities—copra; partners—NA

Imports: $48.9 million (c.i.f., 1983); commodities—NA; partners—NA

External debt: $NA

Industrial production: growth rate NA%

Electricity: 15,000 kW capacity; 35 million kWh produced, 340 kWh per capita (1989)

Industries: tourism, craft items from shell, wood, and pearl

Agriculture: mainly a subsistence economy; copra, black pepper; tropical fruits and vegetables, coconuts, cassava, sweet potatoes, pigs, chickens

Aid: under terms of the Compact of Free Association, the US will provide $1.3 billion in grant aid during the period 1986-2001

Currency: US currency is used

Exchange rates: US currency is used

Fiscal year: 1 October-30 September

- Communications Highways: 39 km of paved macadam and concrete roads on major islands, otherwise 187 km stone-, coral-, or laterite-surfaced roads

Ports: Colonia (Yap), Truk (Kosrae), Okat (Kosrae)

Airports: 11 total, 10 usable; 7 with permanent-surface runways; 6 with runways 1,220-2,439

Telecommunications: 16,000 radio receivers, 1,125 TV sets (est. 1987); telephone network—960 telephone lines at both Kolonia and Truk; islands interconnected by shortwave radio (used mostly for government purposes); stations—5 AM, 1 FM, 6 TV, 1 shortwave; 4 Pacific Ocean INTELSAT earth stations

- Defense Forces Note: defense is the responsibility of the US —————————————————————————— Country: Midway Islands (territory of the US) - Geography Total area: 5.2 km2; land area: 5.2 km2; includes Eastern Island and Sand Island

Comparative area: about nine times the size of The Mall in Washington, DC

Land boundaries: none

Coastline: 15 km

Maritime claims:

Contiguous zone: 12 nm;

Continental shelf: 200 m;

Extended economic zone: 200 nm;

Territorial sea: 12 nm

Climate: tropical, but moderated by prevailing easterly winds

Terrain: low, nearly level

Natural resources: fish and wildlife

Land use: 0% arable land; 0% permanent crops; 0% meadows and pastures; 0% forest and woodland; 100% other

Environment: coral atoll

Note: located 2,350 km west-northwest of Honolulu at the western end of Hawaiian Islands group, about one-third of the way between Honolulu and Tokyo; closed to the public

- People
Population: 453 US military personnel (1989)

- Government
Long-form name: none

Type: unincorporated territory of the US administered by the US Navy, under command of the Barbers Point Naval Air Station in Hawaii and managed cooperatively by the US Navy and the Fish and Wildlife Service of the US Department of the Interior as part of the National Wildlife Refuge System

Diplomatic representation: none (territory of the US)

Flag: the US flag is used

- Economy Overview: The economy is based on providing support services for US naval operations located on the islands. All food and manufactured goods must be imported.

- Communications
Highways: 32 km total

Pipelines: 7.8 km

Ports: Sand Island

Airports: 3 total; 2 usable; 1 with permanent-surface runways; none with runways over 2,439 m; 2 with runways 1,220-2,439 m

- Defense Forces
Note: defense is the responsibility of the US
——————————————————————————
Country: Monaco
- Geography
Total area: 1.9 km2; land area: 1.9 km2

Comparative area: about three times the size of The Mall in Washington, DC

Land boundary: 4.4 km with France

Coastline: 4.1 km

Maritime claims:

Territorial sea: 12 nm

Climate: Mediterranean with mild, wet winters and hot, dry summers

Terrain: hilly, rugged, rocky

Natural resources: none

Land use: 0% arable land; 0% permanent crops; 0% meadows and pastures; 0% forest and woodland; 100% other

Environment: almost entirely urban

Note: second-smallest independent state in world (after
Vatican City)

- People
Population: 29,453 (July 1990), growth rate 0.9% (1990)

Birth rate: 7 births/1,000 population (1990)

Death rate: 7 deaths/1,000 population (1990)

Net migration rate: 9 migrants/1,000 population (1990)

Infant mortality rate: 9 deaths/1,000 live births (1990)

Life expectancy at birth: 72 years male, 80 years female (1990)

Total fertility rate: 1.2 children born/woman (1990)

Nationality: noun—Monacan(s) or Monegasque(s); adjective—Monacan or
Monegasque

Ethnic divisions: 47% French, 16% Monegasque, 16% Italian, 21% other

Religion: 95% Roman Catholic

Language: French (official), English, Italian, Monegasque

Literacy: 99%

Labor force: NA

Organized labor: 4,000 members in 35 unions

- Government
Long-form name: Principality of Monaco

Type: constitutional monarchy

Capital: Monaco

Administrative divisions: 4 quarters (quartiers, singular—quartier);
Fontvieille, La Condamine, Monaco-Ville, Monte-Carlo

Independence: 1419, rule by the House of Grimaldi

Constitution: 17 December 1962

Legal system: based on French law; has not accepted compulsory ICJ jurisdiction

National holiday: National Day, 19 November

Executive branch: prince, minister of state, Council of Government (cabinet)

Legislative branch: National Council (Conseil National)

Judicial branch: Supreme Tribunal (Tribunal Supreme)

Leaders:
Chief of State—Prince RAINIER III (since November 1949); Heir Apparent
Prince ALBERT Alexandre Louis Pierre (born 14 March 1958);

Head of Government Minister of State Jean AUSSEIL (since 10
September 1985)

Political parties and leaders: National and Democratic Union (UND),
Democratic Union Movement (MUD), Monaco Action, Monegasque Socialist Party (PSM)

Suffrage: universal adult at age 25

Elections: National Council—last held on 24 January 1988 (next to be held 24 January 1993); results—percent of vote by party NA; seats—(18 total) UND 18

Member of: IAEA, ICAO, IHO, INTELSAT, INTERPOL, IPU, ITU,
UN (permanent observer), UNESCO, UPU, WHO, WIPO

Diplomatic representation: Monaco maintains honorary consulates
general in Boston, Chicago, Los Angeles, New Orleans, New York, and San
Francisco, and honorary consulates in Dallas, Honolulu, Palm Beach,
Philadelphia, and Washington;
US—no mission in Monaco, but the US Consul General in Marseille,
France, is accredited to Monaco; Consul General R. Susan WOOD; Consulate
General at 12 Boulevard Paul Peytral, 13286 Marseille Cedex (mailing
address APO NY 09777); telephone (91) 549-200

Flag: two equal horizontal bands of red (top) and white; similar to the flag of Indonesia which is longer and the flag of Poland which is white (top) and red

- Economy Overview: No data are published on the economy. Monaco, situated on the French Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The Principality has successfully sought to diversify into services and small, high-value-added, non-polluting industries. The state has no income tax and low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. About 50% of Monaco's annual revenue comes from value-added taxes on hotels, banks, and the industrial sector; about 25% of revenue comes from tourism. Living standards are high, that is, roughly comparable to those in prosperous French metropolitan suburbs.