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Monaco

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Causes We Support

Human Rights
Education
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Economy
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Health
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Human Rights
Monaco has an excellent human rights record with hardly any violations.1 The most prominent human rights issues are prisons not meeting certain exercise standards and refusal to acknowledge political rights for foreign women. There is little to no civil unrest.2

Show References
1 http://www.state.gov/documents/organization/220521.pdf
2 https://www.state.gov/documents/organization/265664.pdf
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Monaco News

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Geography

Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy
Area

Total 2 sq km
Land 2 sq km
Water 0 sq km

Climate

Mediterranean with mild, wet winters and hot, dry summers
Natural Resources

none ;
Natural Hazards

NA
Current Environmental Issues

NA

Demographics

Nationality
Monegasque or Monacan
Population
30,500 (July 2013 est.)
Ethnic Groups
Languages
Religions

Finances

Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a 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. Monaco, however, is not a tax-free shelter; it charges nearly 20% value-added tax, collects stamp duties, and companies face a 33% tax on profits unless they can ...See More show that three-quarters of profits are generated within the principality. Monaco's reliance on tourism and banking for its economic growth has left it vulnerable to a downturn in France and other European economies which are the principality's main trade partners. In 2009, Monaco''s GDP fell by 11.5% as the euro-zone crisis precipitated a sharp drop in tourism and retail activity and home sales. A modest recovery ensued in 2010 with GDP growth of 2.5%, but Monaco''s economic prospects remain clouded in uncertainty tied to future euro-zone growth. Weak economic growth also has deteriorated public finances as the principality recorded a budget deficit of 1.3% of GDP in 2012. Monaco was formally removed from the OECD''s "grey list" of uncooperative tax jurisdictions in late 2009, but continues to face international pressure to abandon its banking secrecy laws and help combat tax evasion. 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. Show Less ;
GDP Purchasing Power Parity

$5.748 billion (2011 est.); $5.47 billion (2010 est.); $5.337 billion (2009 est.)
Agriculture Products

none
Industries

tourism, construction, small-scale industrial and consumer products