Source: world bank Nominal/PPP
Summary:
Monaco GDP Per Capita expanded from 1970 to 2024, increasing from $0.29 to $11.13 .The compound annual growth rate (CAGR) averaged 6.99% over the period. The economy recorded its peak level in 2024 and its lowest level in 1970. Growth volatility remained high. The maximum drawdown reached 24.64%, indicating the largest cyclical decline from peak levels. The country experienced 10 recession episode(s) during the observed period.
Monaco Economic Phases (1970 - 2024)
From 1970 to 2024, Monaco economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1971–1975) indicating robust economic expansion
- High Growth (1977–1980) indicating robust economic expansion
- Contraction (1982–1984) indicating temporary slowdown
- High Growth (1986–1988) indicating robust economic expansion
- High Growth (1994–1995) indicating robust economic expansion
- Contraction (1999–2000) indicating temporary slowdown
- High Growth (2002–2004) indicating robust economic expansion
- High Growth (2006–2008) indicating robust economic expansion
- High Growth (2013–2014) indicating robust economic expansion
- High Growth (2023–2024) indicating robust economic expansion
The most remarkable growth occurred in 1986 with an increase of 39.928%, while the largest decline was in 2009 at -15.817%.