Monaco is about 22,614 times smaller than Estonia.

Estonia is approximately 45,228 sq km, while Monaco is approximately 2 sq km, making Monaco 0.0% the size of Estonia. Meanwhile, the population of Estonia is ~1.2 million people (1.2 million fewer people live in Monaco).
This to-scale comparison of Estonia vs. Monaco uses the Mercator projection, which distorts the size of regions near the poles. Learn more.

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