Economy of Vatican City

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

View of St. Peter's Square from the top of Michelangelo's dome
Currency	Euro (EUR)
Fiscal year	Calendar year
Statistics
GDP	19.80 M
GDP growth	0%
GDP per capita	US$27,461
Inflation (CPI)	6.9%
Population below poverty line	0%
Gini coefficient	35.16
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)
All values, unless otherwise stated, are in US dollars.

A souvenir shop on the roof of St. Peter's Basilica

An ATM 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. ^[1]

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. ^[2] Because of their rarity, Vatican euro coins are highly sought by collectors. ^[3]

Vatican euro coins with images of Pope Francis and Pope Benedict XVI

Key statistics

Budget

• Revenues: €770 million (2021) ^[4]
• 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. ^[1]

Electricity – production – 442 MWh (2010) from solar panels. ^[5]

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. ^[6]

The fiscal year is the calendar year.^{[ citation needed ]}

See also

• Secretariat for the Economy
• Index of Vatican City-related articles
• Philatelic and Numismatic Office of the Vatican City State
• Vatican euro coins

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. Archived from the original on 11 September 2014. Retrieved 25 September 2014.
4. "Vatican's 2022 "Mission Budget" shows deficit, but less than last year". international.la-croix.com. 2022-01-28. Retrieved 2023-05-17.
5. "Vatican solar farm will make it the world's first carbon-neutral state".
6. "Questions and Answers For Coin Collectors Regarding the Death of Pope Francis".

References

•  This article incorporates public domain material from The World Factbook (2025 ed.). CIA.  (Archived 2013 edition.)