Economy of San Marino

Economy of San Marino
Currency	Euro (EUR, €)
Trade organisations	EU Customs Union
Country group	Developed/Advanced; High-income economy;
Statistics
Population	34,735 (1 January 2020)
GDP	$2.840 billion (nominal, 2025); $2.978 billion (PPP, 2025);
GDP rank	171st (nominal; 2024); 176th (PPP; 2024);
GDP growth	4.6% (2022); 1.2% (2023f); 1.0% (2024f);
GDP per capita	$61,520 (nominal, 2025); $82,589 (PPP, 2025);
GDP per capita rank	12th (nominal; 2024); 7th (PPP; 2024);
GDP by sector	agriculture: 0.1%; industry: 39.2%; services: 60.7%; (2017)
Inflation (CPI)	1.95% (2020 est.)
Human Development Index	0.867 very high (2022) (43rd);
Labour force	23,963 (2019)
Labour force by occupation	agriculture: 0.2%; industry: 33.5%; services: 66.3%; (2013);
Unemployment	7.66% (2019)
External
Exports	€1,638.7 million (2018 est.)
Main export partners	Italy, France, Germany
Imports	€1,496.3 million (2018 est.)
Main import partners	Italy, China, Germany
Current account	−€22.2 million (2018)
Public finances
Government debt	30.3% of GDP (2018, official); 78.8% of GDP (2018, IMF) ;
Revenues	23% of GDP (2018)
Expenses	24.5% of GDP (2018)
Credit rating	Fitch: BB+; Outlook: Stable;
	All values, unless otherwise stated, are in US dollars.

The economy of San Marino is a developed free-market economy focused on industries such as tourism, banking, and the manufacture of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. Taken together, the manufacturing and financial sector make up more than half of the national GDP. The primary sector contribution to the GDP of the country is marginal, with the main agricultural products being wine and cheeses. In addition, San Marino sells collectible postage stamps to philatelists.