Monaco: GDP deflator (base year varies by country)

Key figures

What the numbers say

In 2024, Monaco's GDP deflator (base year varies by country) rose 2.4% on 2023 (from 109.48 to 112.1).

Across the 30 yearly changes before that (1994 to 2023), the average change was +1.5% and a typical year strayed about 1.1% from that (the standard deviation). This year's change was 0.9 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 13.7% in 1975 and the biggest yearly fall was 0.2% in 2004. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 2.04 a year. A straight line explains 91% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Monaco had the 12th highest value of the 14 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Monaco in the 2024 ranking

• Afghanistan — 9th of 14: 117.29
• United Arab Emirates — 10th of 14: 114.18
• Bahamas, The — 11th of 14: 112.22
• New Caledonia — 13th of 14: 111.78
• Turks and Caicos Islands — 14th of 14: 107.57

What this measures

The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. The base year varies by country. This indicator is expressed as a ratio (a÷b).

All 55 values

GDP deflator (base year varies by country) in nearby economies

• Albania — 124.77 (2025)
• Andorra — 127.73 (2025)
• Armenia — 144.93 (2025)
• Austria — 123.03 (2025)
• Azerbaijan — 380.4 (2025)
• Belarus — 134.42 (2025)
• Belgium — 120.8 (2025)
• Bosnia and Herzegovina — 128.9 (2025)
• Bulgaria — 154.2 (2025)
• Channel Islands — 100 (2023)

More financial sector data for Monaco

• Official exchange rate (LCU per US$, period average) — US$0.88 (2025)
• DEC alternative conversion factor (LCU per US$) — US$0.88 (2025)
• Inflation, GDP deflator (annual % growth) — 2.39% (2024)
• Inflation, GDP deflator, linked series (annual % growth) — 2.39% (2024)
• GDP deflator, linked series (base year varies by country) — 112.1 (2024)
• Bank nonperforming loans to total gross loans (%) — 0.24% (2019)
• Bank capital to assets ratio (%) — 4.6% (2019)

Every indicator for Monaco is on the Monaco data page.

Reading data like this

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Questions people ask

What is Monaco's GDP deflator (base year varies by country)?

112.1 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 665.44% from 14.64 in 1970 (3.84% a year on average, compounded). The highest value was 112.1 in 2024 and the lowest 14.64 in 1970.

How does Monaco rank?

12th highest of 14 economies with data for 2024.

Is the latest change in GDP deflator (base year varies by country) unusual for Monaco?

In 2024, Monaco's GDP deflator (base year varies by country) rose 2.4% on 2023 (from 109.48 to 112.1). Across the 30 yearly changes before that (1994 to 2023), the average change was +1.5% and a typical year strayed about 1.1% from that (the standard deviation). This year's change was 0.9 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.GDP.DEFL.ZS, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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