NA

International organization participation:

CE, FAO, IAEA, ICAO, ICC, ICCt (signatory), ICRM, IFRCS, IHO, IMO,
IMSO, Interpol, IOC, IPU, ITSO, ITU, OIF, OPCW, OSCE, Schengen
Convention, UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU,
WFTU, WHO, WIPO, WMO

Diplomatic representation in the US:

chief of mission: Ambassador to the US and UN Gilles NOGHES chancery: 2314 Wyoming Avenue NW, Washington, DC 20008 telephone: (202) 234-1530 FAX: (202) 552-5778

Diplomatic representation from the US:

the US does not have an embassy in Monaco; the US Ambassador to France is accredited to Monaco; the US Consul General in Marseille (France), under the authority of the US ambassador to France, handles routine diplomatic and consular matters concerning Monaco

Flag description:

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
Monaco

Economy - overview:

Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a major banking center and has successfully sought to diversify into services and small, high-value-added, nonpolluting 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. The state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service. Living standards are high, roughly comparable to those in prosperous French metropolitan areas.

GDP (purchasing power parity):

$976.3 million note: Monaco does not publish national income figures; the estimates are extremely rough (2006 est.)

GDP (official exchange rate):