Countries
San Marino
Key Economic Indicators
$2.67 billion
$78,745
0.4%
1.24%
$1.832 billion (2022 est.)
100 % of GDP
$445.85 million
Economic Overview
high-income, non-EU European economy; surrounded by Italy, which is the dominant importer and exporter; open border to EU and a euro user; strong financial sector; high foreign investments; low taxation; increasingly high and risky debt
All Economic Data
Agricultural products
wheat, grapes, corn, olives; cattle, pigs, horses, beef, cheese, hides
Budget
Expenditures:
$816.886 million (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$841.03 million (2023 est.)
Currency
code:
EUR
name:
euro (EUR) [€]
Current account balance
$445.85 million
Current account balance 2020:
$42.98 million (2020 est.)
Current account balance 2021:
$100.118 million (2021 est.)
Current account balance 2022:
$284.256 million (2022 est.)
Note:
<strong>note:</strong> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
euros (EUR) per US dollar -
Exchange rates 2020:
0.877 (2020 est.)
Exchange rates 2021:
0.845 (2021 est.)
Exchange rates 2022:
0.951 (2022 est.)
Exchange rates 2023:
0.925 (2023 est.)
Exchange rates 2024:
0.924 (2024 est.)
Note:
<strong>note: </strong>while not an EU member state, San Marino, due to its preexisting monetary and banking agreements with Italy, has a 2000 monetary agreement with the EU to produce limited euro coinage—but not banknotes—that began enforcement in January 2002 and was superseded by a new EU agreement in 2012
Exports
$3.77 billion
Exports 2020:
$2.439 billion (2020 est.)
Exports 2021:
$3.23 billion (2021 est.)
Exports 2022:
$3.616 billion (2022 est.)
Note:
<strong>note:</strong> balance of payments - exports of goods and services in current dollars
Exports - commodities
washing and bottling machines, other foods, packaged medicine, woodworking machines, aircraft (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Germany 12%, Austria 10%, USA 9%, Romania 8%, Brazil 7% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$-18,112,874
GDP - composition, by end use
Exports of goods and services:
197.4% (2022 est.)
Government consumption:
17.1% (2022 est.)
Household consumption:
35.5% (2022 est.)
Imports of goods and services:
-173% (2022 est.)
Investment in fixed capital:
17.8% (2022 est.)
Investment in inventories:
5.2% (2022 est.)
Note:
<strong>note:</strong> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
0% (2022 est.)
Industry:
37.6% (2022 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
55.1% (2022 est.)
GDP (official exchange rate)
$1.832 billion (2022 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$59,880
GNI (gross national income)
$1.85 billion
GNI per capita
$53,890
Gross domestic investment
17 % of GDP
Imports
$3.14 billion
Imports 2020:
$2.232 billion (2020 est.)
Imports 2021:
$2.94 billion (2021 est.)
Imports 2022:
$3.169 billion (2022 est.)
Note:
<strong>note:</strong> balance of payments - imports of goods and services in current dollars
Imports - commodities
garments, cars, electricity, animal food, footwear (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Germany 24%, Italy 13%, Netherlands 9%, Spain 9%, Poland 8% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
10.7% (2022 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
tourism, banking, textiles, electronics, ceramics, cement, wine
Inflation rate (consumer prices)
1.24%
Inflation rate (consumer prices) 2022:
5.3% (2022 est.)
Inflation rate (consumer prices) 2023:
5.9% (2023 est.)
Inflation rate (consumer prices) 2024:
1.2% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Public debt
100 % of GDP
Note:
<b>note:</b> central government debt as a % of GDP
Public debt 2022:
103.2% of GDP (2022 est.)
Real GDP (purchasing power parity)
$2.67 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2020:
$1.947 billion (2020 est.)
Real GDP (purchasing power parity) 2021:
$2.218 billion (2021 est.)
Real GDP (purchasing power parity) 2022:
$2.393 billion (2022 est.)
Real GDP growth rate
0.4%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2020:
-6.6% (2020 est.)
Real GDP growth rate 2021:
13.9% (2021 est.)
Real GDP growth rate 2022:
7.9% (2022 est.)
Real GDP per capita
$78,745
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2020:
$56,000 (2020 est.)
Real GDP per capita 2021:
$64,700 (2021 est.)
Real GDP per capita 2022:
$70,900 (2022 est.)
Remittances
$21.04 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2020:
1.1% of GDP (2020 est.)
Remittances 2021:
1.1% of GDP (2021 est.)
Remittances 2022:
1.2% of GDP (2022 est.)
Reserves of foreign exchange and gold
$836.09 million
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2021:
$954.383 million (2021 est.)
Reserves of foreign exchange and gold 2022:
$716.066 million (2022 est.)
Reserves of foreign exchange and gold 2023:
$836.088 million (2023 est.)
Revenue (excl grants)
41 % of GDP
Tax revenue
17 % of GDP
Taxes and other revenues
17.8% (of GDP) (2022 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
World Bank Indicators
Currency
euro (EUR) (2025)
Languages
Italian (2025)
Economic Rankings
GDP Growth Rate
#7
GDP per Capita
#16
Reserves
#141
Inflation Rate
#146
Exports
#146
Imports
#156
GDP (Nominal)
#178
GDP (PPP)
#179
Quick Facts
Industries
tourism, banking, textiles, electronics, ceramics, cement, wine
Agricultural products
wheat, grapes, corn, olives; cattle, pigs, horses, beef, cheese, hides
Exports - partners
Germany 12%, Austria 10%, USA 9%, Romania 8%, Brazil 7% (2023)
Imports - partners
Germany 24%, Italy 13%, Netherlands 9%, Spain 9%, Poland 8% (2023)
Exchange rates
euros (EUR) per US dollar -
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