after two years of crisis, the economy regained color
Like all other countries, the Principality of Monaco has not been spared by the health crisis. The economy has taken a hit now seems to be showing a good recovery.
On March 17, the Monegasque Institute for Statistics and Economic Studies (IMSEE) published its results for the last quarter of 2021.
After a major impact on trade, foreign trade (excluding France) canceled by 23% compared to the same period in 2020. A positive balance but below its pre-pandemic level.
In detail, the Principality recorded 336 million euros of imports against 213 million euros of exports. A situation that has increased the trade balance deficit, today at -634 million euros.
For the first time, Monegasque turnover exceeds 16 billion euros. A much more satisfactory result than in 2020 (14.1 billion) and even than in 2019 (14.9 billion).
In terms of employment, nearly 2,000 jobs were created in 2021. Monaco now has 56,999 workers, compared to 54,881 in 2020 and 56,871 in 2019.
All sectors experienced growth, except accommodation and food services, which increased from 7,481 employees in 2020 to 7,377 in 2021.