Background: Economic development was spurred in the late 19th century with a railroad linkup to France and the opening of a casino. Since then the principality's mild climate splendid scenery and gambling facilities have made Monaco world famous as a tourist and recreation center.
Administrative divisions: none; there are no first-order administrative divisions as defined by the US Government but there are four quarters (quartiers singular - quartier); Fontvieille La Condamine Monaco-Ville Monte-Carlo
Diplomatic representation In the us: Monaco does not have an embassy in the US From the us: the US does not have an embassy in Monaco; the US Consul General in Marseille (France) is accredited to Monaco
Flag description: two equal horizontal bands of red (top) and white; similar to the flag of Indonesia which is longer and the flag of Poland which is white (top) and red
Economy overview: Monaco situated on the French Mediterranean coast is a popular resort attracting tourists to its casino and pleasant climate. The Principality 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. 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. Monaco does not publish national income figures; the estimates below are extremely rough.
Exports: $N/A; full customs integration with France which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France
Imports: $N/A; full customs integration with France which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France