Economy of Vatican City

{{Short description|none}}

{{Distinguish|Prefecture for the Economic Affairs of the Holy See|Institute for the Works of Religion}}{{Infobox economy

| country = Vatican City

| image = File:St Peter's Square, Vatican City - April 2007.jpg

| width =

| caption = View of St. Peter's Square from the top of Michelangelo's dome

| currency = Euro (EUR)

| year = Calendar year

| organs =

| gdp = 19.80 M

| growth = 0%

| per capita = US$27,461

| sectors =

| inflation = 6.9%

| poverty = 0%

| gini = 35.16

| labor = 4,822 (2016)

| occupations = 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

| unemployment =

| industries = printing, production of coins, medals, postage stamps, mosaics and staff uniforms and financial services

| exports =

| export-goods =

| export-partners =

| imports =

| import-goods =

| import-partners =

| FDI =

| gross external debt =

| debt =

| revenue = $315 million (2013)

| expenses = $334 million (2013)

| reserves =

| aid =

| cianame = holy-see-(vatican-city)

}}

{{Vatican city}}

File:Vatican-Souvenir-shop-on-the-roof-of-St-Peter-6653.jpg on the roof of St. Peter's Basilica]]

File:Vatican ATM in Latin.jpg in Vatican City with Latin instructions]]

The economy of Vatican City is mainly supported financially by the sale of stamps, coins, medals, and tourist mementos as well as fees for admission to museums and publication sales. Vatican City employed 4,822 people in 2016.{{Cite web|url=https://www.cia.gov/the-world-factbook/countries/holy-see-vatican-city/|title=Europe :: Holy See (Vatican City) — The World Factbook - Central Intelligence Agency|website=www.cia.gov|access-date=2019-11-18}}

The Vatican City receives subsidies from the Italian state, which include the water supply free of charge, tax exemptions and other kinds of dedicated public funding.

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.{{cite web|url=http://europa.eu/legislation_summaries/economic_and_monetary_affairs/institutional_and_economic_framework/l25040_en.htm|title=Agreements on monetary relations (Monaco, San Marino, the Vatican and Andorra)|access-date=23 February 2007|work=Activities of the European Union: Summaries of legislation}} Because of their rarity, Vatican euro coins are highly sought by collectors.{{cite web|url=http://cathnews.acu.edu.au/604/100.html|title=Benedict Vatican euros set for release|access-date=25 September 2014|work=Catholic News|date=21 April 2006}}

Key statistics

;Budget:

  • revenues: €770 million (2021){{Cite web |date=2022-01-28 |title=Vatican's 2022 "Mission Budget" shows deficit, but less than last year |url=https://international.la-croix.com/news/religion/vaticans-2022-mission-budget-shows-deficit-but-less-than-last-year/15561 |access-date=2023-05-17 |website=international.la-croix.com |language=en}}
  • expenditures: €803 million (2021)
  • deficit: €33m (2021)

;Industries:

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

;Electricity – production:

442 MWh (2010) from solar panels.{{citation needed|date=November 2015}}

;Electricity – imports:

Electricity supplied by Italy.{{citation needed|date=November 2015}}

;Currency:

Euro (since 2002). Vatican City depends on Italy for practical production of banknotes, stamps and other valuable titles.{{citation needed|date=November 2015}} Owing to their rarity, Vatican euro coins are sought by collectors.{{citation needed|date=November 2015}}

The fiscal year is the calendar year.{{citation needed|date=November 2015}}

See also

Notes

{{Reflist}}

References

  • {{CIA World Factbook|year=2013}}

{{Vatican City topics}}

{{Economy of Europe}}

{{DEFAULTSORT:Economy Of Vatican City}}

Vatican City