Preview of expanded Monaco en Chiffres for MEB members

To a packed house, Monaco Institute for Statistics and Economic Studies (IMSEE) Director, Alexandre Bubbio and his team presented the latest edition of the publication that summarises key data for Monaco. And figures are encouraging for the economy.

On Thursday 22 June at the Novotel Monte-Carlo, true to form the IMSEE Director and his team gave MEB members a preview of the key stats from the annual ‘Monaco en Chiffres’.

The new edition is slightly thicker with 20 extra pages containing new info not included before. For example, employment now has its own chapter with lots of additional information. Also new so readers can see at a glance in the graphics key indicators for the 12 main industry sectors that appear alongside the usual tables of figures 

During his talk, Alexandre Bubbio gave a brief statistical overview of Monaco’s economy. Public finances are holding up with a budget surplus of €32.2 million in 2022. In the last ten years only 2020 saw a deficit due to the health crisis.  The trend is the same for other indicators with a strong post-covid rebound and favourable evolution over the last decade: GDP is up by 47.3%, turnover by +32.2%, the number of establishments is up +46.6% and the average price per square metre of property resales is up +60.6%.

Alexandre Bubbio then handed over to his three colleagues who expanded on the themes developed in Monaco en Chiffres: employment, three key sectors (GSA), and foreign trade.

For example in 2022 in the private sector, of the 65,529 jobs in the Principality, 6,651 were filled by people from Nice; that the three major activities, scientific & technical, administrative and support services, represented 21.1% of GDP and includes professions as diverse as law, advertising companies, travel agents and temp work agencies, and that trade (excluding France*) had grown by an average 5.4% per year for ten years. Still on foreign trade, a new online tool was introduced in the form of an interactive overview to quickly access information on trade, with each country just a few clicks away. It’s available on the IMSEE website.

The 100-strong audience had plenty of questions, often relating to their business, a sign that the information provided is crucial to them and the Principality as a whole.