On Thursday 13 June, Sophie Vincent, Director of the Monegasque Institute of Statistics and Economic Studies (IMSEE), met with entrepreneurs who are members of the Monaco Economic Board (MEB) to announce a preview of the latest statistics from the Economy Bulletin for the 1st Quarter of 2019, which will be published this Friday, and the latest trends stemming from an analysis of regular economic indicators as compared to the same period in the previous year. An update was also given on the role, modus operandi and aims of IMSEE.
"An analysis of the economic data for this first quarter shows a rather quiet start to 2019," summarised Sophie Vincent, recalling both "caution with regard to provisional figures and the volatility of a Monegasque economy in which the results of a few large operators can quickly make a difference."
Among the significant figures for this first quarter, Sophie Vincent cited:
- Growth in foreign trade in goods (excluding France) of +5% to €780 million;
- A decline in the Principality's turnover (excluding banking activities) by more than 7%, with two sectors losing momentum, namely information and communications and real estate activities;
- A steady increase in employment (+3.1%), i.e. an increase of 1,638 additional jobs, meaning that, in total, the 55,000 jobs milestone in the Principality was exceeded in the first quarter of the year;
- A positive balance of new businesses and deregistrations over this period, with the establishment of 206 businesses as against 146 deregistrations.
This meeting took place within the framework of the links that exist between IMSEE and the MEB; each year, a lecture on a topical subject is held for its members.