Economy of San Marino

Economy of San Marino
CurrencyEuro (EUR, €)
Trade organisations
EU Customs Union
Country group
Statistics
PopulationIncrease 34,735 (1 January 2020)[3]
GDP
  • Increase $2.034 billion (nominal, 2024)[4]
  • Increase $2.978 billion (PPP, 2024)[4]
GDP rank
GDP growth
  • Increase 4.6% (2022)[5]
  • Increase 1.2% (2023f)[5]
  • Increase 1.0% (2024f)[5]
GDP per capita
  • Increase $59,405 (nominal, 2024)[4]
  • Increase $86,989 (PPP, 2024)[4]
GDP per capita rank
GDP by sector

(2017)[6]

1.95% (2020 est.)[4]
  • Increase 0.867 very high (2022)[7] (43rd)
Labour force
23,963 (2019)[8]
Labour force by occupation
UnemploymentPositive decrease 7.66% (2019)[8]
External
Exports€1,638.7 million (2018 est.)
Main export partners
Italy, France, Germany
Imports€1,496.3 million (2018 est.)
Main import partners
Italy, China, Germany
Decrease −€22.2 million (2018) [9]
Public finances
  • Negative increase 30.3% of GDP (2018, official)
  • Negative increase 78.8% of GDP (2018, IMF) [9]
RevenuesIncrease 23% of GDP (2018)
ExpensesPositive decrease 24.5% of GDP (2018)
All values, unless otherwise stated, are in US dollars.


The economy of San Marino is a developed free-market economy focused on industries such as tourism, banking, and the manufacture of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. Taken together, the manufacturing and financial sector make up more than half of the national GDP. The primary sector contribution to the GDP of the country is marginal, with the main agricultural products being wine and cheeses. In addition, San Marino sells collectible postage stamps to philatelists.[11]

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ "Population on 1 January". ec.europa.eu/eurostat. Eurostat. Retrieved 13 July 2020.
  4. ^ a b c d e "Report for Selected Countries and Subjects: April 2024". imf.org. International Monetary Fund.
  5. ^ a b c "The outlook is uncertain again amid financial sector turmoil, high inflation, ongoing effects of Russia's invasion of Ukraine, and three years of COVID". International Monetary Fund. April 11, 2023.
  6. ^ a b "CIA World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 23 August 2020.
  7. ^ "Human Development Report 2023/2024" (PDF). United Nations Development Programme. 13 March 2024. Archived (PDF) from the original on 13 March 2024. Retrieved 4 May 2024.
  8. ^ a b "Statistical Office of San Marino". Retrieved 23 August 2020.
  9. ^ a b "IMF data mapper, April 2020". Retrieved 23 August 2020.
  10. ^ "Fitch Downgrades San Marino to 'BB+'; Outlook Negative". Retrieved 23 August 2020.
  11. ^ "CIA Factbook San Marino". 4 April 2023.