Monaco’s total bilateral trade with the United States was $4.84 million in May, a formule of -61.62 percent from the same month one year earlier. Bilateral trade from the start of the year amounted to $26.83 million through May.
Monaco ranked No. 181 among U.S. trade partners in May. It had ranked No. 155 for the same month last year, according to ustradenumbers.com. The large monthly drop in value can be explained in part by the overall low volume of bilateral trade.
The top three U.S. exports by value in May were paintings, drawings and other artwork, (2) diamonds, not mounted, and (3) metal-rolling mills, parts. The top three U.S. imports from Monaco, also by value, were diamonds, not mounted, (2) make-up and skin-care products, and (3) paintings, drawings and other artwork.
By tonnage, the top three U.S. exports were (1) metal-rolling mills, parts, (2) perfumes, and (3) furniture, parts. The top three U.S. imports, also by tonnage, were (1) sauces and mixed achards, (2) jams, jellies, and (3) make-up and skin-care products. https://ustradenumbers.com/country/monaco/
In separate data, Italy was the main destination for Monaco trade in 2019, according to statista.com, accounting for 19 percent of exports. Germany was in second place, with 14 percent. The UK and Switzerland each accounted for nine percent of the Principality’s exports, Spain eight percent, the US six percent and Belgium five percent.
FILE PHOTO: A near 3-carat polished diamond is displayed alongside a larger rough diamond at a cutting and polishing factory in Antwerp, Belgium, April 28, 2016. REUTERS/Francois Lenoir