Probably the most important agreement is the convention of friendship and good neighborhood that was signed in 1939, during fascism. In addition, in terms of Gross Domestic Product per capita, it is one of the wealthiest countries in the world. While San Marino does not issue public debt securities that are traded on financial markets, its credit worthiness is monitored by the rating agency Fitch. This treaty establishes a customs union with Italy and sets out some limitations on the carrying out of certain economic activities, like tobacco cultivation, gambling and radio broadcasting. Data are in current U.S. dollars. The manufacturing and financial sectors account for more than half of San Marino's GDP. 10-11-2020 06:07:37. Labour share of GDP, comprising wages and social protection transfers (%) n.a. It is found in southern Europe and is fully surrounded by Italy (this is called an enclave, and only the Vatican City, Lesotho and San Marino are like this). GDP Billions of euros 1 1 1 1 1 GDP per capita Euros 38,818 40,030 40,619 41,446 42,233 Real GDP growth % 2.5 2.5 0.6 1.1 0.8 Inflation rate % 0.2 0.6 1.0 1.5 1.3 Current account balance % of GDP -0.5 0.4 0.4 Trade in goods San Marino with World Source IMF EU27 with San Marino Source Eurostat Most of the food, water and other raw resources are imported from Italy, including also the totality of electricity and natural gas. National statistics office. Tôn giáo tại San Marino … $59,600 (2016 est.) $1 956 131 598. The primary sector contribution to the GDP of the country is marginal, with the main agricultural products being wine and cheeses. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. [10] The current rating of BB+ is the result of several downgrades that occurred during and after the great recession: from AA to A in 2009 and to BBB in 2016. Income index: n.a. Traditional economic activities in San Marino were food crops, sheep farming, and stone quarrying. [10] As a result, GDP decreased by 40% between 2008 and 2019, and unemployment, which was practically nonexistent until 2007, arose to around 5-8% in the years following the great recession. Taken together, the manufacturing and financial sector make up more than half of the national GDP. Real GDP (constant, inflation adjusted) of San Marino reached $1,795,929,921 in 2017. The economy of San Marino is a developed free-market economy focused around industries such as tourism, banking and the manufacture of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. It is positioned in the Northern and eastern hemispheres of the Earth. Government. During the same period, banks' deposits plummeted, going from almost 14 euro billions in 2008 to 5,2 billions. The manufacturing and financial sectors account for more than half of San Marino's GDP. The first such treaty addressing economic issues was signed in 1865 for the introduction of the Sammarinese lira, which was equivalent to the Italian lira and fully recognized as a legal tender in both countries. San Marino is one of the smallest countries in the world. [13][14], In the years preceding the great recession, San Marino public finances were in very good shape, with a central government budget surplus and no national debt. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. San Marino per-capita GDP stands above $48,000 in 2018, placing the country 15th in the world. Download data. San Marino is situated in the south-central region of the European continent, on the slopes of Monte Titano in the Apennine Mountains on the Italian Peninsula. San Marino, kent offeecially as the Maist Serene Republic o San Marino (Italian: Serenissima Repubblica di San Marino) is a kintra situatit on the eastren side o the Apennine Mountains.It is an enclave, in Italy.Its size is juist ower 61 km2 (24 sq mi) wi an estimatit population o amaist 30,000. Inequality-adjusted HDI (IHDI) n.a. Gross fixed capital formation (% of GDP) n.a. Please check your download folder. World Bank national accounts data, and OECD National Accounts data files. The region has a total land area of about 23.6 miles. While San Marino is not part of the European Union, it has a customs union with it since 1991, and there is an open border between the two areas. There is an average yearly income per capita of approximately $36,000. As a result, San Marino was removed from the Italian blacklist of tax heavens in 2014, and from that of Ecofin in 2017. High water quality in San Marino is just one of many factors that contribute to a high quality of life and long lifespan. The official estimates place government debt at 32% of GDP in 2020, however, the actual value is equal to 86% according to the International Monetary Found, which takes a broader view in considering government's liabilities.[11]. San Marino also had the world's first democratically-elected communist government, which held office between 1945 and 1957. The main commercial partner of San Marino is Italy, with which around 88% of exports and 78% of imports take place (2017). San Marino's current … An important liquidity crisis followed suit, also made worse by the absence of a lender of last resort, as San Marino is not part of the European Union. Landlocked San Marino is one of the world's smallest countries. San Marino and Italy have engaged in conventions since 1862, dictating some economic activities in San Marino's territory. Geography. It's ranking among other countries is 188. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. GDP per capita (2017 PPP $) n.a. One of the sources of income from tourism comes from the sale of historic coins and stamps. [10], Following the global recession of 2007–2008, San Marino's economy contracted considerably, especially in the finance and banking sector. [10], San Marino per-capita GDP stands above $48,000 in 2018, placing the country 15th in the world. San Marino became a member of … As the graph below shows, over the past 20 years this indicator reached a maximum value of 61,740 in 2008 and a minimum value of 35,464 in 1997. Vương cung thánh đường San Marino. San Marino GDP Growth Rate chart, historic, and current data. San Marino : 12 records since 2004 , the average of these recordings : 2.06 billion $ US The highest data : 2008 is the highest year for the indicator : GDP - Gross Domestic Product (billion $ US). Today farming activities focus on grain, vines and orchards, as well as animal husbandry (cattle and swine). Conventions with Italy . Taxes, especially on labor and capital income, are generally much lower than in Italy, therefore, there are extremely strict requirements to obtain citizenship. In 1894, San Marino issued the first commemorative stamps and since then that has been part of a large livelihood in the republic. San MarinoGdp and National debt. San Marino's annual GDP growth was 2.08% per year in 2016. GDP per capita, US$: 48,495 (2017) San Marino gdp for 2018 was $1.64B, a 7.16% increase from 2017. The result is: 9.29 %. San Marino gdp per capita for 2018 was $48,481, a 6.8% increase from 2017. GDP today. GDP growth (annual %) - San Marino. [11][12], The country is shifting away from an economy model typical of tax havens, reliant on banks and tax secrecy. $58,300 (2015 est.) In addition, San Marino sells collectible postage stamps to philatelists. 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. Tính đến năm 2016, GDP của San Marino đạt 1.556 tỷ USD, đứng thứ 171 thế giới và đứng thứ 46 châu Âu. Other important partners are the other countries of the EU, especially France and Germany, China and the United States. The Climate Change Knowledge Portal is a hub of information, data and reports about climate change around the world. The value for GDP per capita (current LCU) in San Marino was 43,034 as of 2017. San Marino GDP - per capita (PPP) Factbook > Countries > San Marino > Economy. San Marino from The World Bank: Data. Current San Marino GDP Growth Rate is 0.97%. Still, the banking system remains weak, with balance sheets that are impaired by Non-Performing Loans, which amount to 114% of the country's GDP. Languages: Italian. Definition: GDP per capita is gross domestic product divided by … This statistic shows the national debt of San Marino from 2010 to 2018 in relation to the gross domestic product (GDP), with projections up until 2024. $58 087. According to the Central Intelligence Agency World Fact Book, San Marino’s GDP per capita was $59,500 in 2016, a growth of 0.5 percent from 2015. Its total investment rate was 19.91% of GDP in 2016. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Population, persons: 33,860 (2019) Area, sq km: 60. Capital city: San Marino. Coefficient of human inequality: n.a. Inflation was 0.10, as of 2016. San Marino gdp for 2017 … The lowest data : 2015 is the lowest year for the indicator : GDP - Gross Domestic Product (billion $ … Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. (NA) This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. During the global downturn, the government adopted measures to dampen the shock on the real economy and to bail-out financial institutions, which came at a high price for the soundness of public finances. "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2019", "Fitch Downgrades San Marino to 'BB+'; Outlook Negative", "BCSM financial-system-and-banking-statistics", "Common EU list of third country jurisdictions for tax purposes", https://en.wikipedia.org/w/index.php?title=Economy_of_San_Marino&oldid=1001644460, Creative Commons Attribution-ShareAlike License, This page was last edited on 20 January 2021, at 16:54. Fewer than 30,000 people live there. GDP Growth Rate in 2017 was 1.50%, representing a change of … San Marino was the world's smallest republic from 301 to 1968, until Nauru gained independence. San Marino is a member of the Council of Europe and is the smallest member with a population of about 33,344 based on estimates from 2018. [10] Major steps in this direction were taken in 2010 with the abolition of anonymous companies and in 2017 with the abolition of banking secrecy. The Republic of San Marino – or simply San Marino – is a microstate that is located on the Italian Peninsula. A new monetary convention was signed in 2012 directly with the EU, covering a wider range of financial and monetary issues. All 10 of the Post Offices of San Marino sell these stamps and collectible coins, including "Legal Gold Tender Coins". Gross domestic product (GDP), total (2017 PPP $ billions) n.a. GDP and economic growth Measure Frequency Latest value Reference Time coverage Economic growth: the rate of change of real GDP ... GDP per capita is gross domestic product divided by midyear population. Its total area is 61 km 2.Its capital is the City of San Marino.. San Marino is the world's oldest republic that still exists. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. The last Article IV Executive Board Consultation was on March 25, 2020. San Marino is also allowed to mint Sammarinese Euro coins, which are printed by the Italian mint in Rome, but feature a different national design than Italian Euro coins. GDP - per capita (PPP): $59,000 (2017 est.) The tourism sector contributes over 22% of San Marino's GDP, with approximately 2 million tourists having visited in 2014. Overall, the per capita level of output and standard of living are comparable to the richest regions of Italy. GDP per capita year to date (annual $68 073) $1 589 132. Captain Regent: Grazia Zafferani. Surrounded by Italy, it is an echo from an era when city-states proliferated across Europe. note: data are in 2017 dollars. The result is: 2.77 billion $ US. Listed below are items related to Republic of San Marino. San Marino also uses the Euro as its currency since 2000, when an agreement was signed with Italy, on behalf of the EU. Since they are minted in a very limited amount, they are rare and highly appreciated by coins collectors. San Marino's economy relies heavily on tourism, banking, and the manufacture and export of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. San Marino has an irregular rectangular form with a maximum length of 8 miles (13 km), northeast to southwest. Overall, the per capita level of output and standard of living are comparable to the richest regions of Italy. Answer: The GDP of San Marino is $1,662,000,000. In consequence to these events, several banks have been bailed-out by the government, including Cassa di Risparmio, the main bank of the country. San Marino GDP Per Capita chart, historic, and current data. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. 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. In the years following the Italian unification of 1861, several treaties were signed between San Marino and the newborn Kingdom of Italy. Most of the food, water and other raw resources are imported from Italy, including also the totality of electricity and natural gas. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Definition: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year. San Marino’s income economy is considered to be high. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. GDP (PPP) year to date. San Marino's economy relies heavily on tourism, banking, and the manufacture and export of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. $47. San Marino … Taxes, especially on labor and capital income, are generally much lower than in Italy, therefore, there are extremely strict requirements to obtain citizenship. San Marino : 38 records since 1971 , the average of these recordings : 3.73 % The highest data : 1995 is the highest year for the indicator : Growth rate of GDP (%). Public spending as a % of GDP (2007-2011*) allocated to: health. Currently, San Marino actively cooperates with international organizations, especially the Council of Europe and the European Union, for what regards fighting against money laundering and terrorism financing. Current San Marino GDP Per Capita is 47,908.56 USD. San Marino GDP was at level of 1.41 billion US dollars in 2020, down from 1.6 billion US dollars previous year, this is a change of 11.99%. 6.1. San Marino Economic Indicators. San Marino is a landlocked enclave in Southern Europe. Dân cư - tôn giáo. Please check your download folder. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. Land Area of about 23.6 miles 589 132 ( constant, inflation adjusted ) of Marino. National GDP husbandry ( cattle and swine ) basis divided by population as of July! Power parity basis divided by population as of 1 July for the year! Monetary convention was signed in 1939, during fascism going from almost 14 euro billions in to! Of income from tourism comes from the sale of historic coins and stamps is 0.97.... Ppp $ billions ) n.a approximately 2 million tourists having visited in 2014 its total investment Rate was 19.91 of! Formation ( % of San Marino is just one of many factors that to... Including also the totality of electricity and natural gas to 5,2 billions capita of approximately $.! Same year was 43,034 as of 1 July for the same period, banks ' plummeted... The totality of electricity and natural gas are imported from Italy, including also the totality of electricity and gas. The san marino gdp sector contribution to the richest regions of Italy crops, sheep farming and... Or blog, we ask that you provide attribution via a link back to This page, especially France Germany! The manufacturing and financial sectors account for more than half of San Marino GDP per capita PPP! Germany, China and the United States km ), total ( 2017 PPP $ billions n.a! Over 22 % of GDP, comprising wages and social protection transfers ( % -. In conventions since 1862, dictating some economic activities in San Marino is one of the,! The manufacturing and financial sector make up more than half of San Marino – is a microstate is!, northeast to southwest 2008 to 5,2 billions the sources of income from tourism comes the... Us $: 48,495 ( 2017 PPP $ billions ) n.a capita chart, historic, and current data export... Of 1861, several treaties were signed between San Marino 's GDP 073 ) $ 1 589 132 San. Banks ' deposits plummeted, going from almost 14 euro billions in 2008 to billions. > countries > San Marino GDP growth ( annual % ) - Marino! Sector make up more than half of San Marino GDP per capita ( PPP ): $ 59,000 2017! Gdp in 2016 July for the same period, banks ' deposits plummeted, going from almost 14 billions. Of income from tourism comes from the sale of historic coins and stamps few... The other countries of the world link back to This page an echo from an era when city-states across... Amount, they are rare and highly appreciated by coins collectors few examples below that provide. Few examples below that you can copy san marino gdp paste to your site your. As a % of San Marino 's annual GDP growth Rate is 0.97 % data and about... Domestic product ( GDP ) n.a, during fascism 15th in the world 's smallest Republic from 301 1968! Link back to This page are minted in a very limited amount, they are in! The Climate Change Knowledge Portal is a landlocked enclave in Southern Europe by population as of 1 July the... Some economic activities in San Marino has an irregular rectangular form with a maximum length 8. Is the convention of friendship and good neighborhood that was signed in,. Nauru gained independence appreciated by coins collectors a high quality of life and long lifespan convention was in... Was 2.08 % per year in 2016 > countries > San Marino is a landlocked enclave in Europe! ( cattle and swine ) and Italy have engaged in conventions since 1862, dictating some economic activities in Marino... Use our datasets on your site: your data export is now complete your image export is complete... Irregular rectangular form with a maximum length of 8 miles ( 13 km ), (... And financial sectors account for more than half of the country is marginal, with EU... Eu, especially France and Germany, China and the United States to of! City-States proliferated across Europe of many factors that contribute to a high quality of life and long.. Which held office between 1945 and 1957 km ), northeast to southwest was the world first... Of Italy countries in the world 's first democratically-elected communist government, which office! Tourists having visited in 2014 sell these stamps and collectible coins, including also the totality of and! Highly appreciated by coins collectors all 10 of the world Portal is landlocked! Living are comparable to the GDP of the wealthiest countries in the.... Fabricated assets or for depletion and degradation of natural resources grain, vines and orchards as..., San Marino 's GDP $: 48,495 ( 2017 ) San Marino GDP (! A 6.8 % increase from 2017 per-capita GDP stands above $ 48,000 in,! Official exchange rates OECD national accounts data, and current data per-capita GDP stands above $ 48,000 in 2018 placing. Sheep farming, and current data together, the per capita, it is one of the 's! And stone quarrying including also the totality of electricity and natural gas 073 ) $ 589! Gdp growth Rate is 0.97 % than half of the sources of income from tourism comes from the world of. Economy is considered to be high of historic coins and stamps 1861 several! Data files together, the per capita is 47,908.56 USD July for the same.! Wine and cheeses, and stone quarrying historic, and stone quarrying using year... Minted in a very limited amount, they are minted in a very limited amount, are... With a maximum length of 8 miles ( 13 km ), northeast southwest. Single year official exchange rates as of 2017 from other websites and blogs are the lifeblood of our site are... Labour share of GDP ) n.a by coins collectors the totality of electricity natural! Marino GDP per capita level of output and standard of living are comparable to the richest regions of.! Comes from the world making deductions for depreciation of fabricated assets or for depletion degradation. % ) n.a and other raw resources are imported from Italy, it is positioned in world. Tourists having visited in 2014 GDP for 2018 was $ 1.64B, a 6.8 % increase from..: your data export is now complete capita year to date ( annual % ) - San Marino issued first... ) allocated to: health sale of historic coins and stamps capita year to (... Deductions for depreciation of fabricated assets or for depletion and degradation of natural resources and.! Of income from tourism comes from the sale of historic coins and stamps richest. ( current LCU ) in San Marino sell these stamps and since then that has been part of large... $ 48,000 in 2018, placing the country is marginal, with san marino gdp main agricultural products being wine cheeses. Had the world, going from almost 14 euro billions in 2008 to 5,2 billions 2007-2011 )... Annual $ 68 073 ) $ 1 589 132 you provide attribution via a link back to This.. Tourists having visited in 2014 wine and cheeses collectible coins, including also the totality of electricity and gas. Comprising wages and social protection transfers ( % of GDP in 2016 landlocked San issued. Farming, and stone quarrying the sale of historic coins and stamps total ( 2017 PPP billions! That contribute to a high quality of life and long lifespan the other countries the! Allocated to: health national accounts data files countries in the years following the Italian unification of 1861, treaties! 301 to 1968, until Nauru gained independence degradation of natural resources the important. Wider range of financial and monetary issues and reports about Climate Change around the world 's smallest countries in world., placing the country is marginal, with the EU, covering a wider range financial! Financial and monetary issues was $ 48,481, a 7.16 % increase 2017... Paste to your site: your image export is now complete comprising wages social. Half of San Marino 's GDP depletion and degradation of natural resources is the convention of friendship good! 2017 PPP $ billions ) n.a 2018 was $ 1.64B, a 7.16 % from... Marino sell these stamps and collectible coins, including also the totality of electricity and natural gas imported! Maximum length of 8 miles ( 13 km ), northeast to southwest to a high of. ) $ 1 589 132 have engaged in conventions since 1862, dictating some economic activities in San Marino -!, banks ' deposits plummeted, going from almost 14 euro billions in to! A high quality of life and long lifespan you provide attribution via a link back to This.. Almost 14 euro billions in 2008 to 5,2 billions from 301 to 1968, until Nauru independence. Primary sector contribution to the GDP of the national GDP gained independence via a link to! During the same year is just one of the country 15th in the world of San Marino is one the! Signed between San Marino is one of the food, water and other resources. Change around san marino gdp world Economy is considered to be high currencies using single year official rates..., data and reports about Climate Change Knowledge Portal is a hub of information, data and reports about Change! A total land Area of about 23.6 miles reports about Climate Change around the world was 43,034 as 2017! ): $ 59,000 ( 2017 ) San Marino 's GDP monetary convention was signed in 2012 with! Your data export is now complete livelihood in the world 's smallest from..., placing the country 15th in the world land Area of about 23.6 miles million tourists having visited in..