In its annual report on Monaco’s economy, the Monegasque Institute of Statistics and Economic Studies (IMSEE) has again reported significant GDP (in French, PIB or produit intérieur brut) growth for 2015.
Internationally, last year was still marked by disappointing economic growth below initial expectations, by a fall in international trade, by the maintenance of extremely accommodative monetary policies, and by the continuation of the decline of price of oil.
Growth remained low, particularly in the euro area (+1.7%). However, the Monegasque economy in 2015 stands out for its results.
Monegasque GDP for the year 2015 amounts to €5.64 billion against €5.32 billion in 2014, a growth of + 5.4%.
IMSEE pointed out that sectoral economic performances show great disparities. The two most important economic sectors of the Principality, in terms of GDP, are Financial and Insurance Activities and Scientific and Technical Activities, Administrative and Support Services.
In 2015, GDP per employee was €108,611, up by + 5.9% over 2014.
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