France and Monaco
France and Monaco maintain close administrative, economic and health ties. Neighbourhood cooperation has specific mechanisms for a small state.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07History and institutional framework
The annual Franco-Monegasque commission brings together shared issues.
Areas of the relationship
Neighbourhood cooperation has specific mechanisms for a small state.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | ||
| Goods: France to Monaco | ||
| Goods: Monaco to France | ||
| Services trade | ||
| Export share: France to Monaco | ||
| Export share: Monaco to France | ||
| Investment stock: France in Monaco | ||
| Investment stock: Monaco in France |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Some annual indicators refer to different years. Check the period beside each value before comparing them.
| Indicator | France | Monaco |
|---|---|---|
| Nominal GDP | 3.37 trillion USD2025 · WB | 11.13 billion USD2024 · WB |
| GDP per capita | 48,985.73 USD2025 · WB | 288,001.57 USD2024 · WB |
| GDP growth | 0.84 %2025 · WB | 8.51 %2024 · WB |
| Policy interest rate | 2.5 %2026-09-16 · BCE | |
| Inflation · annual average | 0.94 %Annual average · 2025 · WB | |
| Inflation · latest year-on-year figure | 3 %provisionalprovisionalYear-on-year · Sept. 2026 · Insee | |
| Unemployment | 7.54 %ILO est.2025 · WB | |
| Budget balance (% of GDP) | -5.1 %IMF est.2025 · IMF | |
| Gross public debt (% of GDP) | 116 %IMF est.2025 · IMF | |
| Current account balance (% of GDP) | -0.27 %2025 · WB | |
| Population | 68,720,3372025 · WB | 38,6312024 · WB |
| Area | 606,410 km²2023 · BM / FAO | 75 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDFrance: 2025 · World BankMonaco: 2024 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personFrance: 2025 · World BankMonaco: 2024 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)France: 2025 · World BankMonaco: 2024 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)France: 2026-09-16 · ECB deposit facility; shared euro-area rate · European Central Bank
- Inflation · annual average
- Average annual change in headline CPI (%)France: 2025 · Annual average change in CPI (%) · World Bank
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedFrance: 2026-09 · Change in headline CPI from the same month of the previous year (%) · Insee · Published: 2026-09-30 · provisional · Provisional · National headline CPI, year-on-year, not monthly inflation or an annual average. Provisional data or an official advance release; subject to revision.
- Unemployment
- % of the labour force; definition used by the stated institutionFrance: 2025 · World Bank · ILO est.
- Budget balance
- General government (% of GDP)France: 2025 · IMF — World Economic Outlook · IMF est.
- Gross public debt
- General government (% of GDP)France: 2025 · IMF — World Economic Outlook · IMF est.
- Current account balance
- % of GDPFrance: 2025 · World Bank
- Population
- PeopleFrance: 2025 · World BankMonaco: 2024 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceFrance: 2023 · Total area, including inland waters; territorial coverage as defined by the source · World Bank · FAOMonaco: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
France to Monaco
| Product or sector | Value / share |
|---|---|
Monaco to France
| Product or sector | Value / share |
|---|---|
Connections between people
Contacts between people and relations between governments are distinct dimensions. Published counts appear in the table with their date and definition; a resident community is not inferred from trade or diplomatic representation. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from France living in Monaco | ||
| Residents from Monaco living in France | ||
| Study and training: France in Monaco | ||
| Study and training: Monaco in France | ||
| Academic stays: France in Monaco | ||
| Academic stays: Monaco in France | ||
| Travel: France to Monaco | ||
| Travel: Monaco to France |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
History and institutional framework
The annual Franco-Monegasque commission brings together shared issues. Old meetings mentioned in a profile are not presented as the most recent meetings without an updated record. [1] [2]
The scale of both economies
France's nominal GDP is 3,366.3 billion USD (2025), compared with 11.1 for Monaco (2024). The reference populations are 68.72 and 0.04 million, respectively. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [3] [4] [5] [6]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
Areas of the relationship
Neighbourhood cooperation has specific mechanisms for a small state. [1] [2]
Treaties, customs and taxation
The 2002 friendship treaty and the 2005 administrative cooperation convention form part of the framework between sovereign states. The French consulate became an embassy on 1 January 2006. The financial relationship includes the customs union arising from the 1865 agreement and the 1963 tax convention. The customs union has a scope distinct from trade statistics identifying all French and Monegasque goods separately. [1]
Day-to-day coordination and education
The annual Franco-Monegasque commission and other bilateral bodies address economic affairs, cross-border cooperation, social security and taxation. The use of French educational programmes and French as an official language provides specific social connections. Monaco also retains its national language and its own institutions. Health, tax and local cooperation commissions have different functions: they do not constitute a single investment budget or territorial incorporation. [1]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — FRA-MCO
France's Ministry of Foreign Affairs · Institutional source · Accessed: 2026-10-07
- Bilateral relations — FRA-MCO
France's Ministry of Foreign Affairs · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07