IMSEE publishes Annual GDP Report for 2015

Retrouvez le Rapport Annuel 2015 sur www.imsee.mc

Calculated since 2005 by the Monegasque Institute of Statistics and Economic Studies (IMSEE), the Principality’s gross domestic product (GDP) is the subject of an annual report which presents detailed results. The annual economic growth rate as well as GDP per employee and GDP per capita are also presented, and the principles and choices of methodology used in the calculations are explained.

At the international level, 2015 was marked by economic growth which continues to be disappointing and below initial expectations, a fall in international trade, the ongoing presence of highly accommodative monetary policies, and confirmation of the decline in oil prices. Consequently, 2015 represents a continuation of 2014. Growth remains weak, particularly in the euro zone (+1.7%).

In this context, the Monegasque economy stood out due to its results in 2015.

Monaco’s GDP for the year was EUR 5.64 billion, compared with EUR 5.32 billion in 2014. It recorded growth of 5.4% by volume.

After the downturn experienced in 2009, GDP is continuing to grow, although it is tending to shift course, and all components of GDP (employee salaries, gross operating surplus, taxes), with the exception of subsidies, made a positive contribution to the result.

Furthermore, economic performance by sector highlighted significant differences depending on the activity.

The two most important economic sectors in the Principality in terms of GDP are Financial and Insurance Activities and Scientific and Technical Activities, Administrative and Support Services.

Finally, GDP per employee was EUR 108,611.

It increased by 5.9% by volume.

For more information, see www.imsee.mc