Current San Marino GDP Per Capita is 47,908.56 USD. It's ranking among other countries is 188. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. Today farming activities focus on grain, vines and orchards, as well as animal husbandry (cattle and swine). 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. Taxes, especially on labor and capital income, are generally much lower than in Italy, therefore, there are extremely strict requirements to obtain citizenship. Most of the food, water and other raw resources are imported from Italy, including also the totality of electricity and natural gas. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. GDP growth (annual %) - San Marino. It is positioned in the Northern and eastern hemispheres of the Earth. Fewer than 30,000 people live there. Download data. 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). 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. San Marino GDP Growth Rate chart, historic, and current data. Probably the most important agreement is the convention of friendship and good neighborhood that was signed in 1939, during fascism. Answer: The GDP of San Marino is $1,662,000,000. The value for GDP per capita (current LCU) in San Marino was 43,034 as of 2017. GDP Growth Rate in 2017 was 1.50%, representing a change of … Traditional economic activities in San Marino were food crops, sheep farming, and stone quarrying. GDP per capita (2017 PPP $) n.a. Definition: GDP per capita is gross domestic product divided by … [10], Following the global recession of 2007–2008, San Marino's economy contracted considerably, especially in the finance and banking sector. The result is: 9.29 %. Inflation was 0.10, as of 2016. The region has a total land area of about 23.6 miles. 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. The main commercial partner of San Marino is Italy, with which around 88% of exports and 78% of imports take place (2017). San Marino is one of the smallest countries in the world. San Marino’s income economy is considered to be high. The last Article IV Executive Board Consultation was on March 25, 2020. San Marino became a member of … In the years following the Italian unification of 1861, several treaties were signed between San Marino and the newborn Kingdom of Italy. 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 (%). 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. [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. Gross fixed capital formation (% of GDP) n.a. San Marino's economy relies heavily on tourism, banking, and the manufacture and export of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. Current San Marino GDP Growth Rate is 0.97%. 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. 10-11-2020 06:07:37. San Marino also uses the Euro as its currency since 2000, when an agreement was signed with Italy, on behalf of the EU. 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). There is an average yearly income per capita of approximately $36,000. 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%. [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. Please check your download folder. The manufacturing and financial sectors account for more than half of San Marino's GDP. 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. San MarinoGdp and National debt. The Climate Change Knowledge Portal is a hub of information, data and reports about climate change around the world. 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. Since they are minted in a very limited amount, they are rare and highly appreciated by coins collectors. As a result, San Marino was removed from the Italian blacklist of tax heavens in 2014, and from that of Ecofin in 2017. A new monetary convention was signed in 2012 directly with the EU, covering a wider range of financial and monetary issues. San Marino was the world's smallest republic from 301 to 1968, until Nauru gained independence. In addition, in terms of Gross Domestic Product per capita, it is one of the wealthiest countries in the world. The Republic of San Marino – or simply San Marino – is a microstate that is located on the Italian Peninsula. 6.1. Conventions with Italy . Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. GDP - per capita (PPP): $59,000 (2017 est.) All 10 of the Post Offices of San Marino sell these stamps and collectible coins, including "Legal Gold Tender Coins". San Marino gdp per capita for 2018 was $48,481, a 6.8% increase from 2017. Definition: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year. Overall, the per capita level of output and standard of living are comparable to the richest regions of Italy. San Marino and Italy have engaged in conventions since 1862, dictating some economic activities in San Marino's territory. [11][12], The country is shifting away from an economy model typical of tax havens, reliant on banks and tax secrecy. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. San Marino … Geography. San Marino per-capita GDP stands above $48,000 in 2018, placing the country 15th in the world. The primary sector contribution to the GDP of the country is marginal, with the main agricultural products being wine and cheeses. GDP today. Population, persons: 33,860 (2019) Area, sq km: 60. 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. San Marino also had the world's first democratically-elected communist government, which held office between 1945 and 1957. 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. 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. World Bank national accounts data, and OECD National Accounts data files. Most of the food, water and other raw resources are imported from Italy, including also the totality of electricity and natural gas. 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. Labour share of GDP, comprising wages and social protection transfers (%) n.a. Its total investment rate was 19.91% of GDP in 2016. In 1894, San Marino issued the first commemorative stamps and since then that has been part of a large livelihood in the republic. $1 956 131 598. San Marino's economy relies heavily on tourism, banking, and the manufacture and export of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. Please check your download folder. GDP (PPP) year to date. $59,600 (2016 est.) "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2019", "Fitch Downgrades San Marino to 'BB+'; Outlook Negative", "BCSM financial-system-and-banking-statistics", "Common EU list of third country jurisdictions for tax purposes", https://en.wikipedia.org/w/index.php?title=Economy_of_San_Marino&oldid=1001644460, Creative Commons Attribution-ShareAlike License, This page was last edited on 20 January 2021, at 16:54. Data are in current U.S. dollars. In consequence to these events, several banks have been bailed-out by the government, including Cassa di Risparmio, the main bank of the country. Surrounded by Italy, it is an echo from an era when city-states proliferated across Europe. Capital city: San Marino. GDP per capita, US$: 48,495 (2017) San Marino's annual GDP growth was 2.08% per year in 2016. Dân cư - tôn giáo. [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. San Marino's current … $47. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. Landlocked San Marino is one of the world's smallest countries. (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. 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. 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. The result is: 2.77 billion $ US. San Marino has an irregular rectangular form with a maximum length of 8 miles (13 km), northeast to southwest. 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 is a landlocked enclave in Southern Europe. Listed below are items related to Republic of San Marino. 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. 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. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. 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. Coefficient of human inequality: n.a. Languages: Italian. The tourism sector contributes over 22% of San Marino's GDP, with approximately 2 million tourists having visited in 2014. One of the sources of income from tourism comes from the sale of historic coins and stamps. Gross domestic product (GDP), total (2017 PPP $ billions) n.a. During the same period, banks' deposits plummeted, going from almost 14 euro billions in 2008 to 5,2 billions. Public spending as a % of GDP (2007-2011*) allocated to: health. In addition, San Marino sells collectible postage stamps to philatelists. Vương cung thánh đường San Marino. San Marino gdp for 2018 was $1.64B, a 7.16% increase from 2017. Real GDP (constant, inflation adjusted) of San Marino reached $1,795,929,921 in 2017. Income index: n.a. Tôn giáo tại San Marino … 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 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. 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. High water quality in San Marino is just one of many factors that contribute to a high quality of life and long lifespan. $58,300 (2015 est.) San Marino gdp for 2017 … 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 per capita year to date (annual $68 073) $1 589 132. Captain Regent: Grazia Zafferani. San Marino GDP Per Capita chart, historic, and current data. Overall, the per capita level of output and standard of living are comparable to the richest regions of Italy. 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. The lowest data : 2015 is the lowest year for the indicator : GDP - Gross Domestic Product (billion $ … Taken together, the manufacturing and financial sector make up more than half of the national GDP. [10], San Marino per-capita GDP stands above $48,000 in 2018, placing the country 15th in the world. Other important partners are the other countries of the EU, especially France and Germany, China and the United States. $58 087. Inequality-adjusted HDI (IHDI) n.a. 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. Government. 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 from The World Bank: Data. San Marino GDP - per capita (PPP) Factbook > Countries > San Marino > Economy. The manufacturing and financial sectors account for more than half of San Marino's GDP. Tính đến năm 2016, GDP của San Marino đạt 1.556 tỷ USD, đứng thứ 171 thế giới và đứng thứ 46 châu Âu. National statistics office. San Marino Economic Indicators. [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. 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