Economy - overview:
San Marino's economy relies heavily on its tourism and banking industries, as well as on the manufacture and export of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. The per capita level of output and standard of living are comparable to those of the most prosperous regions of Italy, which supplies much of its food. San Marino boasts the world's longest life expectancy for men with 80 years. The economy benefits from foreign investment due to its relatively low corporate taxes and low taxes on interest earnings. San Marino has recently faced increased international pressure to improve cooperation with foreign tax authorities and transparency within its own banking sector, which generates about one-fifth of the country's tax revenues. Italy's implementation in October 2009 of a tax amnesty to repatriate untaxed funds held abroad has resulted in financial outflows from San Marino to Italy worth more than $4.5 billion. Such outflows, combined with a money-laundering scandal at San Marino's largest financial institution and the recent global economic downturn, have contributed to a deep recession and growing budget deficit. However, San Marino has no national debt, and an unemployment rate half the size of Italy's. The San Marino government has adopted measures to counter the downturn, including subsidized credit to businesses. San Marino also continues to work towards harmonizing its fiscal laws with EU members and international standards. In September 2009, the OECD removed San Marino from its list of tax havens that have yet to fully implement global tax standards.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Exports: Exports - commodities: Imports: Imports - commodities: Debt - external: Exchange rates:
NOTE: The information regarding San Marino on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of San Marino Economy 2011 information contained here. All suggestions for corrections of any errors about San Marino Economy 2011 should be addressed to the CIA.
$1.662 billion (2007)
country comparison to the world: 192
[see also: GDP (purchasing power parity) country ranks ]
$1.048 billion (2004)
[see also: GDP (official exchange rate) country ranks ]
4.3% (2007 est.)
country comparison to the world: 71
[see also: GDP - real growth rate country ranks ]
$41,900 (2007)
country comparison to the world: 17
[see also: GDP - per capita country ranks ]
agriculture: 0.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
46.5%
[see also: GDP - composition by sector - industry country ranks ]
services:
53.4% (2007)
[see also: GDP - composition by sector - services country ranks ]
22,660 (2008)
country comparison to the world: 209
[see also: Labor force country ranks ]
agriculture: 0.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
37.7%
[see also: Labor force - by occupation - industry country ranks ]
services:
62.2% (2008 est.)
[see also: Labor force - by occupation - services country ranks ]
3.1% (2008)
country comparison to the world: 24
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $690.6 million
[see also: Budget - revenues country ranks ]
expenditures:
$652.9 million (2006)
[see also: Budget - expenditures country ranks ]
-3.5% (2008)
country comparison to the world: 1
[see also: Inflation rate (consumer prices) country ranks ]
NA% (31 December 2009 est.)
[see also: Commercial bank prime lending rate country ranks ]
$NA (31 December 2008)
[see also: Stock of narrow money country ranks ]
$NA (31 December 2008)
[see also: Stock of broad money country ranks ]
$7.875 billion (31 December 2008)
country comparison to the world: 103
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
wheat, grapes, corn, olives; cattle, pigs, horses, beef, cheese, hides
tourism, banking, textiles, electronics, ceramics, cement, wine
3.1% (2007)
country comparison to the world: 101
[see also: Industrial production growth rate country ranks ]
$4.628 billion (2007)
country comparison to the world: 110
[see also: Exports country ranks ]
building stone, lime, wood, chestnuts, wheat, wine, baked goods, hides, ceramics
$3.744 billion (2007)
country comparison to the world: 131
[see also: Imports country ranks ]
wide variety of consumer manufactures, food
$NA
[see also: Debt - external country ranks ]
euros (EUR) per US dollar - 0.7715 (2010), 0.7179 (2009), 0.6734 (2008), 0.7345 (2007), 0.7964 (2006)
This page was last modified 09-Feb-11