San Marino Economy 1996

Overview:

The tourist sector contributes over 50% of GDP. In 1993 more than 3 million tourists visited San Marino. The key industries are banking, wearing apparel, electronics, and ceramics. Main agricultural products are wine and cheeses. The per capita level of output and standard of living are comparable to those of Italy, which supplies much of its food.

National product:

GDP - purchasing power parity - $380 million (1993 est.)

National product real growth rate:

2.4% (1993 est.)

National product per capita:

$15,800 (1993 est.)

Inflation rate (consumer prices):

5.5% (1993)

Unemployment rate:

4.9% (December 1993)

Budget:

revenues:

$275 million

expenditures:

$275 million, including capital expenditures of $NA (1992 est.)

Exports:

trade data are included with the statistics for Italy; commodities: building stone, lime, wood, chestnuts, wheat, wine, baked goods, hides, and ceramics

Imports:

wide variety of consumer manufactures, food

External debt:

$NA

Industrial production:

growth rate NA%; accounts for 42% of labor force

Electricity:

supplied by Italy

Industries:

tourism, textiles, electronics, ceramics, cement, wine

Agriculture:

employs 3% of labor force; products - wheat, grapes, maize, olives, meat, cheese, hides; small numbers of cattle, pigs, horses

Economic aid:

$NA

Currency:

1 Italian lire (Lit) = 100 centesimi; note - also mints its own coins

Exchange rates:

Italian lire (Lit) per US$1 - 1,609.5 (January 1995), 1,612.4 (1994), 1,573.7 (1993), 1,232.4 (1992), 1,240.6 (1991), 1,198.1 (1990)

Fiscal year:

calendar year

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