Economy of Vatican City
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This article needs additional citations for verification. (October 2011) |
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This article is incomplete. (October 2011) |
| Economy of Vatican City | |
|---|---|
| Currency | Euro (EUR) |
| Fiscal year | Calendar year |
| Statistics | |
| GDP | n/av |
| Labour force | 2,832 (December 2011) |
| 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 |
| External | |
| Public finances | |
| Revenues | $308 million (2011) |
| Expenses | $326.4 million (2011) |
| Economic aid | Peter's Pence |
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Main data source: CIA World Fact Book |
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The unique, noncommercial economy of Vatican City is supported financially by contributions (known as Peter's Pence) from Roman Catholics throughout the world, the sale of postage stamps and tourist mementos, fees for admission to museums,[1] and the sale of publications.
The Vatican also conducts worldwide financial activities, the Istituto per le Opere di Religione (also known with the acronym IOR and wrongly known as the Vatican Bank). This Institute has an ATM with instructions in Latin, possibly the only such ATM in the world.[2]
The Vatican has often been accused by critics of being excessively wealthy, as in Avro Manhattan's The Vatican Billions. However, the papal state has previously run budget deficits and obtains much of its money from international donations such as Peter's Pence.
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Key statistics [edit]
Budget:
- revenues: $355.5 million (2008)
- expenditures: $356.8 million (2008) [3]
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.
Electricity – imports: Electricity supplied by Italy.
Currency: The euro since 2002. Vatican depends on Italy for practical production of banknotes, stamps and other valuable titles. Owing to their rarity, the Vatican's euro coins are highly sought by collectors.
Fiscal year: Calendar year
See also [edit]
Notes [edit]
- ^ Vatican visitors forced to use cash after credit card ban as city-state falls foul of EU legislation | Mail Online. Dailymail.co.uk (2013-01-04). Retrieved on 2013-02-08.
- ^ Seán P. O'Malley (2006-09-28). "A Glimpse Inside the Vatican & Msgr. Robert Deeley’s Guest Post". Retrieved 2008-01-30.
- ^ Europe :: Holy See (Vatican City). CIA – The World Factbook. Cia.gov. Retrieved on 2013-02-08.
References [edit]
This article incorporates public domain material from the CIA World Factbook document "2010 edition".
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