{ "Introduction": { "Background": { "text": "Geographically the third-smallest state in Europe (after the Holy See and Monaco), San Marino also claims to be the world's oldest republic. According to tradition, it was founded by a Christian stonemason named MARINUS in A.D. 301. San Marino's foreign policy is aligned with that of the EU, although it is not a member; social and political trends in the republic track closely with those of its larger neighbor, Italy." } }, "Geography": { "Location": { "text": "Southern Europe, an enclave in central Italy" }, "Geographic coordinates": { "text": "43 46 N, 12 25 E" }, "Map references": { "text": "Europe" }, "Area": { "total": { "text": "61 sq km" }, "land": { "text": "61 sq km" }, "water": { "text": "0 sq km" } }, "Area - comparative": { "text": "about one-third the size of Washington, DC" }, "Land boundaries": { "total": { "text": "37 km" }, "border countries": { "text": "Italy 37 km" } }, "Coastline": { "text": "0 km (landlocked)" }, "Maritime claims": { "text": "none (landlocked)" }, "Climate": { "text": "Mediterranean; mild to cool winters; warm, sunny summers" }, "Terrain": { "text": "rugged mountains" }, "Elevation": { "highest point": { "text": "Monte Titano 739 m" }, "lowest point": { "text": "Torrente Ausa 55 m" } }, "Natural resources": { "text": "building stone" }, "Land use": { "agricultural land": { "text": "16.7% (2018 est.)" }, "agricultural land: arable land": { "text": "arable land: 16.7% (2018 est.)" }, "agricultural land: permanent crops": { "text": "permanent crops: 0% (2018 est.)" }, "agricultural land: permanent pasture": { "text": "permanent pasture: 0% (2018 est.)" }, "forest": { "text": "0% (2018 est.)" }, "other": { "text": "83.3% (2018 est.)" } }, "Irrigated land": { "text": "0 sq km (2012)" }, "Natural hazards": { "text": "occasional earthquakes" }, "Geography - note": { "text": "landlocked; an enclave of (completely surrounded by) Italy; smallest independent state in Europe after the Holy See and Monaco; dominated by the Apennine Mountains" }, "Map description": { "text": "
San Marino map showing the major population centers in this microstate surrounded by Italy.
" } }, "People and Society": { "Population": { "text": "34,682 (2022 est.)" }, "Nationality": { "noun": { "text": "Sammarinese (singular and plural)" }, "adjective": { "text": "Sammarinese" } }, "Ethnic groups": { "text": "Sammarinese, Italian" }, "Languages": { "Languages": { "text": "Italian" }, "major-language sample(s)": { "text": "San Marino's economy relies heavily on tourism, banking, and the manufacture and export of ceramics, clothing, fabrics, furniture, paints, spirits, tiles, and wine. The manufacturing and financial sectors account for more than half of San Marino's GDP. The per capita level of output and standard of living are comparable to those of the most prosperous regions of Italy.
San Marino's economy contracted considerably in the years since 2008, largely due to weakened demand from Italy - which accounts for nearly 90% of its export market - and financial sector consolidation. Difficulties in the banking sector, the global economic downturn, and the sizable decline in tax revenues all contributed to negative real GDP growth. The government adopted measures to counter the downturn, including subsidized credit to businesses and is seeking to shift its growth model away from a reliance on bank and tax secrecy. San Marino does not issue public debt securities; when necessary, it finances deficits by drawing down central bank deposits.
The economy benefits from foreign investment due to its relatively low corporate taxes and low taxes on interest earnings. The income tax rate is also very low, about one-third the average EU level. San Marino continues to work towards harmonizing its fiscal laws with EU and international standards. In September 2009, the OECD removed San Marino from its list of tax havens that have yet to fully adopt global tax standards, and in 2010 San Marino signed Tax Information Exchange Agreements with most major countries. In 2013, the San Marino Government signed a Double Taxation Agreement with Italy, but a referendum on EU membership failed to reach the quorum needed to bring it to a vote.
" }, "Real GDP (purchasing power parity)": { "Real GDP (purchasing power parity) 2019": { "text": "$2.06 billion (2019 est.)" }, "Real GDP (purchasing power parity) 2018": { "text": "$2.01 billion (2018 est.)" }, "Real GDP (purchasing power parity) 2017": { "text": "$1.982 billion (2017 est.)" }, "note": "note: data are in 2017 dollars" }, "Real GDP growth rate": { "Real GDP growth rate 2017": { "text": "1.9% (2017 est.)" }, "Real GDP growth rate 2016": { "text": "2.2% (2016 est.)" }, "Real GDP growth rate 2015": { "text": "0.6% (2015 est.)" } }, "Real GDP per capita": { "Real GDP per capita 2019": { "text": "$60,800 (2019 est.) note: data are in 2017 dollars" }, "Real GDP per capita 2018": { "text": "$59,600 (2018 est.) note: data are in 2017 dollars" }, "Real GDP per capita 2017": { "text": "$58,867 (2017 est.)" } }, "GDP (official exchange rate)": { "text": "$1.643 billion (2017 est.)" }, "Inflation rate (consumer prices)": { "Inflation rate (consumer prices) 2017": { "text": "1% (2017 est.)" }, "Inflation rate (consumer prices) 2016": { "text": "0.6% (2016 est.)" } }, "Credit ratings": { "Fitch rating": { "text": "BB+ (2020)" } }, "GDP - composition, by sector of origin": { "agriculture": { "text": "0.1% (2009)" }, "industry": { "text": "39.2% (2009)" }, "services": { "text": "60.7% (2009)" } }, "GDP - composition, by end use": { "household consumption": { "text": "(2011 est.) NA" }, "government consumption": { "text": "(2011 est.) NA" }, "investment in fixed capital": { "text": "(2011 est.) NA" }, "investment in inventories": { "text": "(2011 est.) NA" }, "exports of goods and services": { "text": "176.6% (2011)" }, "imports of goods and services": { "text": "-153.3% (2011)" } }, "Agricultural products": { "text": "wheat, grapes, corn, olives; cattle, pigs, horses, beef, cheese, hides" }, "Industries": { "text": "tourism, banking, textiles, electronics, ceramics, cement, wine" }, "Industrial production growth rate": { "text": "-1.1% (2012 est.)" }, "Labor force": { "text": "21,960 (September 2013 est.)" }, "Labor force - by occupation": { "agriculture": { "text": "0.2%" }, "industry": { "text": "33.5%" }, "services": { "text": "66.3% (September 2013 est.)" } }, "Unemployment rate": { "Unemployment rate 2017": { "text": "8.1% (2017 est.)" }, "Unemployment rate 2016": { "text": "8.6% (2016 est.)" } }, "Unemployment, youth ages 15-24": { "total": { "text": "27.4%" }, "male": { "text": "21.4%" }, "female": { "text": "36% (2016 est.)" } }, "Population below poverty line": { "text": "NA" }, "Household income or consumption by percentage share": { "lowest 10%": { "text": "NA" }, "highest 10%": { "text": "NA" } }, "Budget": { "revenues": { "text": "667.7 million (2011 est.)" }, "expenditures": { "text": "715.3 million (2011 est.)" } }, "Budget surplus (+) or deficit (-)": { "text": "-2.9% (of GDP) (2011 est.)" }, "Public debt": { "Public debt 2017": { "text": "24.1% of GDP (2017 est.)" }, "Public debt 2016": { "text": "22.5% of GDP (2016 est.)" } }, "Taxes and other revenues": { "text": "40.6% (of GDP) (2011 est.)" }, "Fiscal year": { "text": "calendar year" }, "Current account balance": { "Current account balance 2017": { "text": "$0 (2017 est.)" }, "Current account balance 2016": { "text": "$0 (2016 est.)" } }, "Exports": { "Exports 2011": { "text": "$3.827 billion (2011 est.)" }, "Exports 2010": { "text": "$2.576 billion (2010 est.)" } }, "Exports - partners": { "text": "Romania 10%, France 9%, United States 8%, Germany 8%, Poland 6%, Brazil 6%, Russia 6%, Austria 6% (2019)" }, "Exports - commodities": { "text": "industrial washing/bottling machinery, packaged medicines, woodworking machinery, foodstuffs, aircraft (2019)" }, "Imports": { "Imports 2011": { "text": "$2.551 billion (2011 est.)" }, "Imports 2010": { "text": "$2.132 billion (2010 est.)" } }, "Imports - partners": { "text": "Germany 21%, Italy 13%, Poland 10%, France 7%, Spain 7%, Belgium 6%, Romania 6% (2019)" }, "Imports - commodities": { "text": "electricity, cars, aluminum, footwear, natural gas, iron piping (2019)" }, "Reserves of foreign exchange and gold": { "Reserves of foreign exchange and gold 2014": { "text": "$392 million (2014 est.)" }, "Reserves of foreign exchange and gold 2013": { "text": "$539.3 million (2013 est.)" } }, "Debt - external": { "text": "NA
" }, "Exchange rates": { "Currency": { "text": "euros (EUR) per US dollar -" }, "Exchange rates 2017": { "text": "0.885 (2017 est.)" }, "Exchange rates 2016": { "text": "0.903 (2016 est.)" }, "Exchange rates 2015": { "text": "0.9214 (2015 est.)" }, "Exchange rates 2014": { "text": "0.885 (2014 est.)" }, "Exchange rates 2013": { "text": "0.7634 (2013 est.)" } } }, "Energy": { "Electricity access": { "electrification - total population": { "text": "100% (2020)" } } }, "Communications": { "Telephones - fixed lines": { "total subscriptions": { "text": "16,000 (2020 est.)" }, "subscriptions per 100 inhabitants": { "text": "47 (2020 est.)" } }, "Telephones - mobile cellular": { "total subscriptions": { "text": "39,000 (2020 est.)" }, "subscriptions per 100 inhabitants": { "text": "115 (2020 est.)" } }, "Telecommunication systems": { "general assessment": { "text": "automatic telephone system completely integrated into Italian system (2018)" }, "domestic": { "text": "fixed-line a little over 47 per 100 and mobile-cellular teledensity roughly 114 telephones per 100 persons (2019)" }, "international": { "text": "country code - 378; connected to Italian international network" }, "note": "note: the COVID-19 pandemic continues to have a significant impact on production and supply chains globally; since 2020, some aspects of the telecom sector have experienced a downturn, particularly in mobile device production; progress towards 5G implementation has resumed, as well as upgrades to infrastructure; consumer spending on telecom services has increased due to the surge in demand for capacity and bandwidth; the crucial nature of telecom services as a tool for work and school from home is still evident, and the spike in this area has seen growth opportunities for development of new tools and increased services" }, "Broadcast media": { "text": "state-owned public broadcaster operates 1 TV station and 3 radio stations; receives radio and TV broadcasts from Italy (2019)" }, "Internet country code": { "text": ".sm" }, "Internet users": { "total": { "text": "20,318 (2019 est.)" }, "percent of population": { "text": "60% (2019 est.)" } }, "Broadband - fixed subscriptions": { "total": { "text": "11,000 (2020 est.)" }, "subscriptions per 100 inhabitants": { "text": "32 (2020 est.)" } } }, "Transportation": { "Civil aircraft registration country code prefix": { "text": "T7" }, "Roadways": { "total": { "text": "292 km (2006)" }, "paved": { "text": "292 km (2006)" } } }, "Military and Security": { "Military and security forces": { "text": "Military Corps (National Guard): Guard of the Rock (or Fortress Guard), Uniformed Militia, Guard of the Great and General Council, Corps of the Gendarmerie; Ministry of Internal Affairs: Civil Police Corps (2022)", "note": "note: the captains regent oversee the Gendarmerie and National Guard when they are performing duties related to public order and security; the Ministry of Foreign Affairs exercises control over such administrative functions as personnel and equipment, and the courts exercise control over the Gendarmerie when it acts as judicial police" }, "Military service age and obligation": { "text": "18 is the legal minimum age for voluntary military service; no conscription; government has the authority to call up all San Marino citizens from 16-60 years of age to serve in the military (2021)" }, "Military - note": { "text": "defense is the responsibility of Italy" } }, "Transnational Issues": { "Disputes - international": { "text": "none identified
" } } }