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Foreign Trade in Figures

Monaco's economy is open to trade. Despite the declining pace of growth in global trade, the Principality of Monaco’s foreign trade continued to rise in 2019 (+8.9%), albeit more slowly than in 2018 (+26.5% - Monaco Statistics latest available data). The country's customs regulations conform to French and EU policies. The two nations are part of a customs union, and the capital is free to move without restrictions between the two. As a result, the Principality is part of the European Union customs zone, without being a member of the EU. French customs service collects duties on cargo that unloads in Monaco and pays a share to the Principality. Monaco imposes a tax on exports to all countries, except France. Monaco mainly purchases products from the textile industry, other manufacturing industries and manufactured transportation materials.

More than three-quarters of Monegasque trade is with partners on the European continent and mostly with members of the European Union, especially Italy, which took over Germany as the main destination of Monaco's exports and remained its top supplier in 2019. Total transactions with the European Union, excluding France, grew significantly (+20.9%), whereas those with countries outside the European Union fell (-7%).

The latest figures from Monaco Statistics show that in 2021 the overall volume of trade (excluding France) stood at EUR 2.9 billion, up by 23% year-on-year. Exports reached EUR 1.1 billion, close to the historical high witnessed in 2019, whereas imports totalled almost EUR 1.8 billion. For the first time in the last decade, imports from extra-EU countries exceeded those from the EU. Italy remained the Principality’s main trading partner, whereas imports from the UK tripled year-on-year, making it the second-largest source of imports.

 

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To go further, check out our service Import Controls and Export Controls

To go further, check out our service Import Export Flows

 

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List of tariffs and local taxes that apply to your product on our service Customs Duties and Local Taxes

 

Trade Compliance

International Economic Cooperation
The Principality of Monaco is a sovereign and independent state, linked closely to France by the Treaty of July 1918 & 1945 and the Agreement of 1963.
Useful Resources
National Organisation of Intellectual Property
The Intellectual Property Division.
 
 
 

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Latest Update: April 2022

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