San Marino - Economy
How is the economy of San Marino? Based on the information we have, San Marino has a 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. Key agricultural products in this country include: wheat, grapes, corn, olives; cattle, pigs, horses, beef, cheese, hides.
More about the economy of San Marino
Labor force 21,960 (September 2013 est.)
Industrial production growth rate 11.57% (2021 est.)
Industries tourism, banking, textiles, electronics, ceramics, cement, wine
Population below poverty line
Taxes and other revenues 17.3% (of GDP) (2021 est.)
Fiscal year
Exchange rates
Currency euros (EUR) per US dollar -
Exchange rates 2022 0.951 (2022 est.)
Exchange rates 2021 0.845 (2021 est.)
Exchange rates 2020 0.877 (2020 est.)
Exchange rates 2019 0.893 (2019 est.)
Exchange rates 2018 0.847 (2018 est.)
Debt - external
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022 $716.066 million (2022 est.)
Reserves of foreign exchange and gold 2021 $954.383 million (2021 est.)
Reserves of foreign exchange and gold 2020 $781.674 million (2020 est.)
Current account balance
Current account balance 2017 $0 (2017 est.)
Current account balance 2016 $0 (2016 est.)
Public debt
Public debt 2021 95.12% of GDP (2021 est.)
Public debt 2020 98.35% of GDP (2020 est.)
Public debt 2019 55.09% of GDP (2019 est.)
Budget
Revenues $371 million (2019 est.)
Expenditures $363 million (2019 est.)
Budget surplus (+) or deficit (-) -2.9% (of GDP) (2011 est.)
Remittances
Remittances 2021 1.13% of GDP (2021 est.)
Remittances 2020 1.15% of GDP (2020 est.)
Remittances 2019 1.08% of GDP (2019 est.)
Imports
Imports 2021 $2.934 billion (2021 est.)
Imports 2020 $2.164 billion (2020 est.)
Imports 2019 $2.315 billion (2019 est.)
Imports (partners) Italy 22%, Germany 20%, Poland 7%, Spain 7%, Netherlands 7% (2022)
Comodities Imports force electricity, garments, cars, aluminum, footwear (2022)
Exports
Imports 2021 $2.934 billion (2021 est.)
Imports 2020 $2.164 billion (2020 est.)
Imports 2019 $2.315 billion (2019 est.)
Exports (partners) US 10%, Germany 9%, France 9%, Austria 9%, Romania 7% (2022)
Comodities Exports force washing and bottling machines, woodworking machines, furniture, other foods, packaged medicine (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2021 $2.079 billion (2021 est.)
Real GDP (purchasing power parity) 2020 $1.917 billion (2020 est.)
Real GDP (purchasing power parity) 2019 $2.053 billion (2019 est.)
GDP (official exchange rate) $1.855 billion (2021 est.)
Real GDP Per capita
Real GDP per capita 2021 $61,600 (2021 est.)
Real GDP per capita 2020 $56,400 (2020 est.)
Real GDP per capita 2019 $60,100 (2019 est.)
GDP - composition, by sector of origin
Agriculture 0.1% (2009)
Industry 39.2% (2009)
Services 60.7% (2009)
GDP - composition, by end use
Household consumption (2011 est.) NA
Government consumption (2011 est.) NA
Investment in fixed capital (2011 est.) NA
Investment in inventories (2011 est.) NA
Exports of goods and services 176.6% (2011)
Imports of goods and services -153.3% (2011)
Unemployment rate
Unemployment rate 2017 8.1% (2017 est.)
Unemployment rate 2016 8.6% (2016 est.)
Youth unemployment rate (ages 15-24)
Total 27.4% (2016 est.)
Male 21.4%
Female 36%
All Important Facts about San Marino

Want to know more about San Marino? Check all different factbooks for San Marino below.

San Marino is found in Southern Europe