Economy San Marino
GDP – Gross Domestic Product
Industry and banks represent the most important voices in the San Marino economy. In 2006, the industrial sector alone represented 41,1% of the national Gross Domestic Product, with a production of 489,23 million euro. The credit sector: banks and insurance companies, with a total of 207,36 million euro, occupy second place and represent 17,4% of the GDP. Third place sees the public sector which produces a total of 159,27 euro: 13,4% of the GDP. Thereafter, follow the commercial sector (10,7%), services (8,6%) and construction (7%), Lastly, transport & communication and agriculture, which contribute respectively by 1,1% and by 0,1% to the total production in the Country.
GDP – Gross Domestic Product – per capita
This gauge of the standard of living in San Marino remained stable during the period 1999-2004 at approximately 35,771 euro. Much higher than the "rich" Italian province of Rimini which registered a per capita GDP of 23,080 euro over the same period. The San Marino data is, in any case, overestimated due to the phenomenon of the over 6000 persons, composed of Italians working in San Marino and of San Marino citizens living in Italy (equal to 31% of the San Marino workforce). These situations, in fact, contribute to the creation of wealth. Without this distortion, the GDP of San Marino would result in 27,460 euro per capita; an amount which would in any case be higher than that of its "neighbors".
Occupation
Six-thousand firms in 60 square km. Owing to the small dimensions of the State the "productive density" of San Marino is among the highest in the world. It is, no doubt, the reason why the rate of unemployment in San Marino is almost extinct; just 2%. Moreover, over six-thousand Italian citizens work on Mount Titano, persons who do not reside in the Republic.
From this viewpoint, the data on occupation is surprising; in fact, over half of the San Marino firms show -0- dependents. This results from the Paper on the General State of Occupation, updated on December 31, 2006, and presented by the Secretary of State for Occupation. Out of a total of 5,604 registered firms at the end of 2006, 3,292 declared no dependent workers. Among the companies without dependent workers, 1,393 are classified as real estate companies, and informatic consultant companies. Commercial activities follow with 783 (50%) without dependents and "construction and installations" with 204 out of 454 without personnel. In conclusion, this classification includes 183 "empty" manufacturing firms out of a total 624.
*Source of data: "Economic Report of the 2007 State Budget", Office for Economic Programming and Data Processing Center of San Marino, "2006 Report on the State of Employment", Secretary of State for Social and Employment Policies.