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San Marino Economy 2011
https://theodora.com/wfb2011/san_marino/san_marino_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















San Marino Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2011

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):
$1.662 billion (2007)
country comparison to the world: 192

$850 million (2004 est.)
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$1.048 billion (2004)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.3% (2007 est.)
country comparison to the world: 71
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$41,900 (2007)
country comparison to the world: 17
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
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 ]

Labor force:
22,660 (2008)
country comparison to the world: 209
[see also: Labor force country ranks ]

Labor force - by occupation:
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 ]

Unemployment rate:
3.1% (2008)
country comparison to the world: 24
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Budget:
revenues: $690.6 million
[see also: Budget - revenues country ranks ]
expenditures: $652.9 million (2006)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
-3.5% (2008)
country comparison to the world: 1

-1.5% (2006)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2009 est.)

NA% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$NA (31 December 2008)

$1.326 billion (31 December 2007)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$NA (31 December 2008)

$4.584 billion (31 December 2007)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$7.875 billion (31 December 2008)
country comparison to the world: 103

$7.511 billion (31 December 2007)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
wheat, grapes, corn, olives; cattle, pigs, horses, beef, cheese, hides

Industries:
tourism, banking, textiles, electronics, ceramics, cement, wine

Industrial production growth rate:
3.1% (2007)
country comparison to the world: 101
[see also: Industrial production growth rate country ranks ]

Exports:
$4.628 billion (2007)
country comparison to the world: 110

$1.291 billion (2004)
[see also: Exports country ranks ]

Exports - commodities:
building stone, lime, wood, chestnuts, wheat, wine, baked goods, hides, ceramics

Imports:
$3.744 billion (2007)
country comparison to the world: 131

$2.035 billion (2004)
[see also: Imports country ranks ]

Imports - commodities:
wide variety of consumer manufactures, food

Debt - external:
$NA
[see also: Debt - external country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.7715 (2010), 0.7179 (2009), 0.6734 (2008), 0.7345 (2007), 0.7964 (2006)


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.






This page was last modified 09-Feb-11
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