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
Industrial production growth rate 10.7% (2022 est.)
Industries tourism, banking, textiles, electronics, ceramics, cement, wine
Population below poverty line
Taxes and other revenues 17.8% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency euros (EUR) per US dollar -
Exchange rates 2024 0.924 (2024 est.)
Exchange rates 2023 0.925 (2023 est.)
Exchange rates 2022 0.951 (2022 est.)
Exchange rates 2021 0.845 (2021 est.)
Exchange rates 2020 0.877 (2020 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $836.088 million (2023 est.)
Reserves of foreign exchange and gold 2022 $716.066 million (2022 est.)
Reserves of foreign exchange and gold 2021 $954.383 million (2021 est.)
Current account balance
Current account balance 2022 $284.256 million (2022 est.)
Current account balance 2021 $100.118 million (2021 est.)
Current account balance 2020 $42.98 million (2020 est.)
Public debt
Public debt 2022 103.2% of GDP (2022 est.)
Budget
Revenues $841.03 million (2023 est.)
Expenditures $816.886 million (2023 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2022 1.2% of GDP (2022 est.)
Remittances 2021 1.1% of GDP (2021 est.)
Remittances 2020 1.1% of GDP (2020 est.)
Imports
Imports 2022 $3.169 billion (2022 est.)
Imports 2021 $2.94 billion (2021 est.)
Imports 2020 $2.232 billion (2020 est.)
Imports (partners) Germany 24%, Italy 13%, Netherlands 9%, Spain 9%, Poland 8% (2023)
Comodities Imports force garments, cars, electricity, animal food, footwear (2023)
Exports
Imports 2022 $3.169 billion (2022 est.)
Imports 2021 $2.94 billion (2021 est.)
Imports 2020 $2.232 billion (2020 est.)
Exports (partners) Germany 12%, Austria 10%, USA 9%, Romania 8%, Brazil 7% (2023)
Comodities Exports force washing and bottling machines, other foods, packaged medicine, woodworking machines, aircraft (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022 $2.393 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $2.218 billion (2021 est.)
Real GDP (purchasing power parity) 2020 $1.947 billion (2020 est.)
GDP (official exchange rate) $1.832 billion (2022 est.)
Real GDP Per capita
Real GDP per capita 2022 $70,900 (2022 est.)
Real GDP per capita 2021 $64,700 (2021 est.)
Real GDP per capita 2020 $56,000 (2020 est.)
GDP - composition, by sector of origin
Agriculture 0% (2022 est.)
Industry 37.6% (2022 est.)
Services 55.1% (2022 est.)
GDP - composition, by end use
Household consumption 35.5% (2022 est.)
Government consumption 17.1% (2022 est.)
Investment in fixed capital 17.8% (2022 est.)
Investment in inventories 5.2% (2022 est.)
Exports of goods and services 197.4% (2022 est.)
Imports of goods and services -173% (2022 est.)
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