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 (purchasing power parity):
$1.662 billion (2007)
$850 million (2004)
GDP (official exchange rate):
$850 million (2004)
GDP - real growth rate:
4.3% (2007 est.)
GDP - per capita (PPP):
$41,900 (2007)
GDP - composition by sector:
agriculture: 0.1%
industry: 46.5%
services: 53.4% (2007)
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)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Budget:
revenues: $690.6 million
expenditures: $652.9 million (2006)
Inflation rate (consumer prices):
-3.5% (2008)
Commercial bank prime lending rate:
7.58% (31 December 2007)
Stock of money:
$1.326 billion (31 December 2007)
Stock of quasi money:
$4.584 billion (31 December 2007)
Stock of domestic credit:
$7.513 billion (31 December 2007)
Market value of publicly traded shares:
$NA
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)
Exports:
$4.628 billion (2007)
Exports - commodities:
building stone, lime, wood, chestnuts, wheat, wine, baked goods, hides, ceramics
Imports:
$3.744 billion (2007)
Imports - commodities:
wide variety of consumer manufactures, food
Debt - external:
$NA
Exchange rates:
euros (EUR) per US dollar - 0.6734 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004)
