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 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 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.)
Exchange rates 2019 0.893 (2019 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 2017 $0 (2017 est.)
Current account balance 2016 $0 (2016 est.)
Public debt
Public debt 2021 95.12% of GDP (2021 est.)
Budget
Revenues $817.27 million (2022 est.)
Expenditures $816.572 million (2022 est.)
Budget surplus (+) or deficit (-)
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 $2.218 billion (2021 est.)
Real GDP (purchasing power parity) 2020 $2.045 billion (2020 est.)
Real GDP (purchasing power parity) 2019 $2.19 billion (2019 est.)
GDP (official exchange rate) $1.855 billion (2021 est.)
Real GDP Per capita
Real GDP per capita 2021 $65,700 (2021 est.)
Real GDP per capita 2020 $60,100 (2020 est.)
Real GDP per capita 2019 $64,100 (2019 est.)
GDP - composition, by sector of origin
Agriculture 0% (2021 est.)
Industry 36.6% (2021 est.)
Services 56.5% (2021 est.)
GDP - composition, by end use
Household consumption 33.1% (2021 est.)
Government consumption 18.5% (2021 est.)
Investment in fixed capital 17.5% (2021 est.)
Investment in inventories 4.7% (2021 est.)
Exports of goods and services 184.3% (2021 est.)
Imports of goods and services -158.2% (2021 est.)
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