Wikipedia

Economy of Vatican City

Economy of Vatican City
Currency Euro (EUR)
Calendar year
Statistics
GDP n/av
Labour force
4,822 (2016)
Labour force by occupation
note: essentially services with a small amount of industry; nearly all dignitaries, priests, nuns, guards, and the approximately 3,000 lay workers live outside the Vatican
Main industries
printing, production of coins, medals, postage stamps, mosaics and staff uniforms and financial services
Public finances
Revenues $315 million (2013)
Expenses $334 million (2013)
Economic aid Peter's Pence
Main data source: CIA World Fact Book

All values, unless otherwise stated, are in US dollars.
Vatican City
This article is part a series on the
Vatican City
An ATM in Vatican City with Latin instructions

The economy of Vatican City is unique and noncommercial. It is supported financially by contributions (known as Peter's Pence) from Roman Catholics throughout the world, the sales of postage stamps and tourist mementos, fees for admission to museums,[1] and the sale of publications. The Vatican City state employs nearly 2,000 people.

The Vatican City issues its own coins and stamps. It has used the euro as its currency since 1 January 1999, owing to a special agreement with the European Union (council decision 1999/98). Euro coins and notes were introduced on 1 January 2002—the Vatican does not issue euro banknotes. Issuance of euro-denominated coins is strictly limited by treaty, though somewhat more than usual is allowed in a year in which there is a change in the papacy.[2] Because of their rarity, Vatican euro coins are highly sought by collectors.[3] Vatican City state had a surplus of 6.7 million euros in 2007 but ran a deficit in 2008 of over 15 million euros.[4]

Key statistics [ edit ]

Budget:

  • revenues: $315 million (2013)
  • expenditures: $348 million (2013) [5]
Industries

Printing and production of a small amount of mosaics and staff uniforms; worldwide banking and financial activities[citation needed]

Electricity – production

442 MWh (2010) from solar panels.[citation needed]

Electricity – imports

Electricity supplied by Italy.[citation needed]

Currency

Euro (since 2002). Vatican City depends on Italy for practical production of banknotes, stamps and other valuable titles.[citation needed] Owing to their rarity, Vatican euro coins are sought by collectors.[citation needed]

The fiscal year is the calendar year.[citation needed]

See also [ edit ]

Notes [ edit ]

  1. ^ "Italy suspends Vatican bank card payments". 3 January 2013 – via www.bbc.co.uk.
  2. ^ "Agreements on monetary relations (Monaco, San Marino, the Vatican and Andorra)". Activities of the European Union: Summaries of legislation. Retrieved 23 February 2007.
  3. ^ "Benedict Vatican euros set for release". Catholic News. 21 April 2006. Retrieved 25 September 2014.
  4. ^ Holy See's budget shortfall shrinks in 2008Archived 22 July 2011 at the Wayback Machine. Christian Telegraph. The report quoted deals mainly with the revenues and expenses of the Holy See and mentions only briefly the finances of Vatican City.
  5. ^ Europe :: Holy See (Vatican City). CIA – The World Factbook. Cia.gov. Retrieved on August 1, 2017.

References [ edit ]

What is this?