|Religion||Roman Catholic (97%)|
|State system||parliamentary republic|
|Head of State||captains regents Oscar Mina, Paolo Rondelli|
|Head of government||No|
|Currency name||Euro (EUR)|
|Nominal GDP (billion USD)||1.55|
|Economic growth (%)||5.2|
According to cheeroutdoor.com, the economy of San Marino is characterized by a high level of interdependence with the Italian economy, it is based mainly on tourism and related services, on banking, on industrial production (building materials, textiles, woodworking and furniture industry, electronics), on handicraft production (leather and ceramic products, wood, metal, stone processing) and food industry (wine production). Production in the field of philately and numismatics is also significant. Building stone is available to the country from natural mineral resources. About 61% of services and 39% of industry contribute to the creation of GDP. San Marino is a rich state, the standard of living of the population corresponds to the standards of the most developed regions of Italy. As part of economic policy, it focuses on the development of tourism and the support of modern industries and services. San Marino has a customs and monetary union with Italy and through it with the EU. Economic development, especially in 2021, was almost paralyzed by the COVID-19 pandemic, therefore the San Marino government seeks foreign investment and promotes an effective restart of economic cooperation (especially with the surrounding Italian regions of Emilia-Romagna and Marche).
- Basic data
- Public finances and the state budget
- Banking system
- Tax system
Table from MOP + additionally balance of payments, indebtedness/GDP.
|GDP growth (%)||ON||ON||ON||ON||ON|
|Export of goods (billion USD)||ON||ON||ON||ON||ON|
|Import of goods (billion USD)||ON||ON||ON||ON||ON|
|Trade Balance (Billion USD)||ON||ON||ON||ON||ON|
|Industrial production (% change)||ON||ON||ON||ON||ON|
|OECD export risk||ON||ON||ON||ON||ON|
Source: EIU, OECD, IMD
Public finance and state budget
|State budget balance (% of GDP)||ON|
|Public debt (% of GDP)||ON|
|Current account balance (billion USD)||ON|
1st paragraph: Current status + outlook. (information mostly from EIU)
Paragraph 2: Balance of payments, foreign exchange reserves, description of data in the table in the public finance section (i.e. state budget deficit/GDP, public debt/GDP), foreign indebtedness, debt service
How does the banking system fare, closedness/openness of the system, regulation, development of interest rates, the strongest top 5 banks (domestic + possibly foreign) + a comment on each of them, information on letters of credit, any specifics (e.g. Islamic banks)
(if possible use Deloitte tax guides and highlights, available on the website https://dits.deloitte.com/#TaxGuides )
1 paragraph Clear/unclear, stable/unstable tax system.
2 paragraph Taxation of FO (total and who bears it), PO, VAT.
3 paragraph. Expected development.