Monaco’s construction sector remained one of the Principality’s economic powerhouses in 2025 despite a sharp slowdown following three years of exceptional activity, according to the latest figures from the Monegasque Institute of Statistics and Economic Studies (IMSEE)…
Sector turnover fell by 36.1 per cent to €1.748 billion, a decline of around €1 billion compared with 2024. However, IMSEE noted that activity remained slightly above 2021 levels and almost double that recorded a decade earlier, highlighting the longer-term strength of the industry.
All areas of construction recorded lower revenues. Residential and non-residential building saw the steepest decline, while specialised construction work and civil engineering also experienced significant reductions.
Employment also eased during the year. The sector employed 6,245 people, down 4.4 per cent on 2024, although it remained Monaco’s third-largest private-sector employer, accounting for more than one in ten private-sector jobs. The number of employers also fell, dropping from 364 to 347.
The report also found that construction continues to be overwhelmingly male-dominated, with men making up more than 90 per cent of the workforce. Most employees live in neighbouring France, while the majority of temporary work assignments in Monaco continued to be linked to the construction industry despite a notable fall in temporary labour during the year.