The Monaco Economic Board were treated to a preview of the newly released IMSEE report into life in the Principality that features more in-depth data on employment and the Monegasque economy than ever before.  

The director of Monaco’s statistical agency IMSEE, Alexandre Bubbio, met with members of the Monaco Economic Board (MEB) at the Novotel Hotel on 22nd June. He introduced the latest edition of the annual report, now considerably substantial in its breadth of data and topics, with particular reference to the new ground covered in the 2023 edition.  

A separate chapter is now devoted to employment, giving a clear picture of the situation within the Principality, as well as a section focusing on the 12 sectors of economic activity that is simplified with infographics and enhanced by data tables for more in-depth coverage.  

An overview of the economy 

Bubbio and other IMSEE representatives then provided the MEB members present with a short overview of the Monegasque economy.  

In brief, public finances are in good shape with a budget surplus of €32.2 million in 2022. Over the decade, only 2020 was in deficit, and this was explained by the pandemic. Other indicators show the same trend of a strong post-health crisis rebound and a positive evolution over the last 10 years.

In that period, the GDP has increased by 47.3%, the turnover of the Principality has risen by 32.2%, and the average price per square meter in property sales is up by an enormous 60.6%. 

The private sector employed 65,529 people in 2022. International trade, excluding France, grew by an annual average of 5.4% over 10 years.  

The new interactive dashboard available on the IMSEE, which neatly summarises data on foreign trade country-by-country, amongst other functions, was also highlighted at the event.  

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Photo credit: Carte Blanche/ MEB