Monaco: GDP deflator, linked series (base year varies by country)

Key figures

What the numbers say

In 2024, Monaco's GDP deflator, linked series (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 5% in 2023 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 13 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 13: 117.29
• United Arab Emirates — 10th of 13: 114.18
• Bahamas, The — 11th of 13: 112.22
• Turks and Caicos Islands — 13th of 13: 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 series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator is expressed as a ratio (a÷b).

All 35 values

GDP deflator, linked series (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)

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)
• GDP deflator (base year varies by country) — 112.1 (2024)
• Inflation, GDP deflator (annual % growth) — 2.39% (2024)
• Inflation, GDP deflator, linked series (annual % growth) — 2.39% (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

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

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

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

How has it changed since 1990?

It is up 67.99% from 66.73 in 1990 (1.54% a year on average, compounded). The highest value was 112.1 in 2024 and the lowest 66.73 in 1990.

How does Monaco rank?

12th highest of 13 economies with data for 2024.

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

In 2024, Monaco's GDP deflator, linked series (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.AD, licensed CC BY 4.0. Original source: Staff estimates, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD); World Economic Outlook database, International Monetary Fund (IMF) 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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