The Monegasque Institute for Statistics and Economic Studies (IMSEE) recently published its report on manufacturing industries in Monaco, businesses that together comprise the smallest ‘major’ sector of the economy.
The health crisis, of course, had a major negative impact on manufacturing, and then it rebounded, by 12.2 percent, from 2021 until the end of 2022.
The bounce back took total revenues to 13.1 percent higher than in 2019, the last full pre-crisis year, when it stood at 807.9 million euros.
The sectors that did best last year were the manufacture of rubber and plastic products (+16.2 percent) and the chemical industry (+14.3 percent).
However, in the longer term the trend is downward, as turnover in the sector has fallen by 19.2 percent over the last decade. It also the oldest sector in terms of company age and among Monaco’s major sectors it has the fewest proportion of new entities.
As might be expected the sector is predominantly male and the vast majority of employees commute from France.
