Economy of Vatican City

The economy of Vatican City is supported financially by the sale of stamps, coins, medals, and tourist mementos as well as fees for admission to museums and publication sales. The Vatican City state employed 4,822 persons in 2016.[1]

Not to be confused with Prefecture for the Economic Affairs of the Holy See or Institute for the Works of Religion.
Economy of Vatican City
CurrencyEuro (EUR)
Calendar year
Statistics
GDPn/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)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.
This article is part of a series on
Vatican City
History
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Culture
Buildings/geography
Vatican Museums
A souvenir shop on the roof of St. Peter's Basilica
An ATM in Vatican City with Latin instructions

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]

Key statistics
Budget
  • revenues: $315 million (2013)
  • expenditures: $348 million (2013)[1]
Industries

Printing and production of a small amount of mosaics and staff uniforms; worldwide banking and financial activities.[1]

Electricity – production

442 MWh (2010) from solar panels.

Electricity – imports

Electricity supplied by Italy.

Currency

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

The fiscal year is the calendar year.

See also

Notes
  1. "Europe :: Holy See (Vatican City) — The World Factbook - Central Intelligence Agency". www.cia.gov. Retrieved 2019-11-18.
  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.

References
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