San Marino flag

The Economy of San Marino

Sammarinese Economy

San Marino's map

Economy - overview: San Marino's economy relies heavily on its tourism and banking industries, as well as from the manufacture and export of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. The economy also benefits from foreign investment due to its relatively low corporate taxes and low taxes on interest earnings. The San Marino government, sworn in on 3 December 2008, will continue to work towards an economic cooperation agreement with Italy - a longstanding priority - as well as harmonizing its fiscal laws with EU members. 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.

GDP:

GDP - real growth rate: 4.3% (2007 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 0.1% industry: 46.5% services: 53.4% (2007)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 22,660 (2008)

Labor force - by occupation: agriculture: 0.1% industry: 37.7% services: 62.2% (2008 est.)

Unemployment rate: 3.1% (2008)

Budget: revenues: $690.6 million expenditures: $652.9 million (2006)

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

Industrial production growth rate: 3.1% (2007)

Electricity - production:

Electricity - production by source:

Electricity - consumption:

Electricity - exports:

Electricity - imports:

Oil - production:

Oil - consumption:

Oil - exports:

Oil - imports:

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

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

Exports: $4.628 billion (2007)

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

Exports - partners:

Imports: $3.744 billion (2007)

Imports - commodities: wide variety of consumer manufactures, food

Imports - partners:

Debt - external: $NA

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: euros (EUR) per US dollar - 0.6734 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004)

Fiscal year: