The Institut Monégasque de la statistique et des études économiques (IMSEE) Economy Bulletin provides economic stakeholders in the Principality with a concise overview of economic activity during the previous quarter.
Its latest edition examines figures for the second quarter of 2026, with cumulative data covering the first six months of the year.
Here are the main takeaways.
Monaco’s total trade volume reached €1.8 billion by the end of the second quarter of 2026.
According to IMSEE, this marks a “return to a level close to 2023.”
Both imports and exports declined, in trade with the European Union as well as with the rest of the world.
One notable development was the rise of Taiwan, now the Principality’s second-largest supplier after Italy.
IMSEE attributes this to “imports of electronic components and circuit boards valued at nearly €190 million.”
On the export side, sales to Italy fell by 23.2%, while Germany and Spain were among the markets that gained ground.
Turnover Down, but Employment Reaches New Highs
Monaco businesses generated €9.2 billion in turnover during the first half of 2026, excluding financial and insurance activities.
That was down nearly 10% compared with the same period, although the decline was only about half as steep as in the first quarter.
“This trend is explained by the completion of major construction projects in the previous year, as well as the absence of exceptional operations similar to those observed at the beginning of 2025,” IMSEE explains.
The figures varied sharply by sector.
Accommodation and food services exceeded €600 million in revenue, an increase of €74 million and a record for this point in the year.
Construction, by contrast, saw turnover fall by €190.6 million, largely due to weaker structural work activity.
Private-sector employment also reached a new high.
In June 2026, the month of the Formula 1 Grand Prix, which had previously been held in May, the number of private-sector jobs approached 70,000 for the first time in the second quarter, surpassing the previous record set in 2025.
Accommodation and food services added nearly 800 jobs compared with 2025, taking the sector above 11,000 jobs for the first time in June.
Across the first half of the year, private-sector employees worked a cumulative 53.5 million hours, one million more than during the same period in 2025.
New-Build Sales Fall Sharply
The new-build property market recorded just four sales worth a combined €42.7 million in the first half of 2026.
“This represents a sharp decline compared to the exceptional level of the first half of 2025, which had been boosted by the delivery of several major projects,” IMSEE said.
The resale market was considerably more active.
There were 238 resales, exactly the same number as during the first half of 2025 and “the highest level of the decade.”
The combined value of those transactions reached €1.2 billion.
“Even though it decreased by €300 million compared to the first half of 2025, the total value of resales stands at €1.2 billion, making it the second-highest level since data collection began in 2006,” IMSEE said.
Tourism and Transport Paint a Mixed Picture
Monaco’s hotels recorded nearly 170,000 arrivals during the period.
Overnight stays totaled 423,261, with visitors staying an average of 2.5 nights.
Cruise activity moved in the opposite direction.
The number of cruise ships calling at the Principality increased by nine, or 15.5%, while passenger numbers fell by 3,473, or 10.5%.
Air traffic, however, grew sharply between January and June.
Monaco recorded 13,579 movements, up 14.9%, and 32,505 passengers, an increase of 25.7%.
June accounted for the highest number of movements during the first half of the year, primarily because of the change in the Formula 1 Grand Prix calendar.
New registrations of private vehicles totaled 1,307, down 8.7%.
Non-plug-in gasoline-electric hybrids were the most popular powertrain.
Meanwhile, public parking facilities recorded nearly 8.5 million entries, an increase of 66,375.