Economy of San Marino
| Currency | Euro (EUR) |
|---|---|
| Statistics | |
| GDP |
 $1.365 billion (PPP 2012 est.) |
| GDP rank | 199th (PPP 2012) |
GDP growth |
 -2.1% (Real,2012 est.) |
GDP per capita |
$36,200 (PPP, 2012 est.) |
GDP by sector | agriculture: 0.1%; industry: 39.2%; services: 60.7% (2009) |
|
2.5%% (CPI, 2012) | |
Population below poverty line | n/av |
| n/av | |
Labour force | 21830 (December 2012) |
Labour force by occupation | agriculture: 0.1%; industry: 34.4%; services: 65.5% (2010 est.) |
| Unemployment |
7% (2012) |
Main industries | tourism, banking, textiles, electronics, ceramics, cement, wine |
| External | |
| Exports |
$3.827 billion (2011 est.) |
Export goods | building stone, lime, wood, chestnuts, wheat, wine, baked goods, hides, ceramics |
Main export partners | n/av |
| Imports |
$2.551 billion (2011 est.) |
Import goods | wide variety of consumer manufactures, food |
Main import partners | n/av |
FDI stock | n/av |
Gross external debt | n/av |
| Public finances | |
| n/av | |
| Revenues | $667.7 million (2011) |
| Expenses | $694.7 million (2011) |
The economy of San Marino is focussed around industries such as banking, wearing apparel, including fabrics, electronics, ceramics, tiles, furniture, paints, and spirits/wines. In addition, San Marino sells collectible postage stamps to philatelists. The main agricultural products are wine and cheeses.
Overview
The per capita level of output and standard of living are comparable to those of Italy, which supplies much of its food. In addition, San Marino has a state budget surplus and no national debt. Income taxes are much lower than in Italy, and there are therefore extremely strict requirements to obtain citizenship. San Marino's per capita gross national product in 2000 stood at $32,000 with more than 50% of that coming from the tourism industry which draws about 3.15 million people annually.[1]
Coins and stamps
One of the greatest sources of income from tourism comes from the sale of historic coins and stamps. In 1894, San Marino issued the first commemorative stamps and since then that has been part of a large livelihood in the republic. All 10 of the Post Offices of San Marino sell these stamps and collectible coins, including "Legal Gold Tender Coins".
Traditional economic activities in San Marino were food crops, sheep farming, and stone quarrying. Today farming activities focus on grain, vines and orchards, as well as animal husbandry (cattle and swine).
Guns
San Marino has Europe's most relaxed gun laws. [2]