Country profile
San Marino
Europe & Central Asia · High income · Capital: San Marino
Key figures, 2023
FDI inflows 2023
−$18 m
Inflows % of GDP
−0.9%
FDI outflows
$35 m
Net FDI
−$53 m
FDI % of investment
−5.3%
In 2023, San Marino recorded FDI net inflows of −$18 m, compared with $72 m in 2022. By value, that ranks 179th of 198 economies with data for 2023. A negative figure means that disinvestment and repayments of intra-company loans by foreign investors exceeded new investment during the year. Inflows were equivalent to −0.9% of GDP in 2023 — above the Europe & Central Asia aggregate (−1.2%) and below the world as a whole (0.9%).
About this summary
Generated automatically from World Bank data. Figures are balance-of-payments net flows in current US$; 2023 is the latest year with broad coverage across economies.Trends
FDI flows over time
Net flows, current US$ (balance-of-payments basis)
- Inflows
- Outflows
Source: World Bank, World Development Indicators (CC BY 4.0). Indicators BX.KLT.DINV.CD.WD and BM.KLT.DINV.CD.WD.
San Marino compared with its region and the world
- San Marino
- Europe & Central Asia (aggregate)
- World
Source: World Bank, World Development Indicators (CC BY 4.0). Indicator BX.KLT.DINV.WD.GD.ZS.
External financing mix not available
Economy at a glance
The economy behind the investment
The macroeconomic, trade and workforce indicators investors and trade officials look at alongside FDI — latest year, 15-year trend and regional and world benchmarks.
| IMF World Economic Outlook | 2024 | 2025 | 2026forecast | 2027forecast | 2028forecast |
|---|---|---|---|---|---|
| Real GDP growth | 1.0% | 1.5% | 1.3% | 1.2% | 1.3% |
| Inflation | 1.2% | 2.3% | 2.8% | 2.6% | 2.0% |
| Unemployment rate | 4.4% | 4.5% | 4.4% | 4.4% | 4.4% |
| Current account, % GDP | 18.4% | 17.1% | 17.1% | 16.9% | 16.0% |
| Fiscal balance, % GDP | 0.4% | −1.0% | −1.6% | −0.1% | 0.5% |
| Government gross debt, % GDP | 62.9% | 60.6% | 77.3% | 58.4% | 55.6% |
Source: IMF World Economic Outlook via the IMF DataMapper API. Years from 2026 are IMF projections; recent years may be estimates and are revised in each WEO round (April and October).
Size & growth
GDP
$2.0 bn2023
186th of 204
GDP per capita
$59,8712023
20th of 204Region $30,016World $13,314
GNI per capita (PPP)
$71,9202023
22nd of 196Region $50,064World $23,170
Population
34 k2025
213th of 217
Population growth
0.4%2025
148th of 217Region 0.4%World 0.9%
Trade & structure
Exports of goods & services
$3.8 bn2023
135th of 175
Imports of goods & services
$3.1 bn2023
146th of 175
Trade openness (% of GDP)
341%2023
3rd of 176Region 86.2%World 58.1%
Manufacturing, % of GDP
31.8%2023
3rd of 187Region 14.0%World 15.2%
Services, % of GDP
56.9%2023
102nd of 196Region 64.8%World 63.0%
Workforce & innovation
Internet users, % of population
97.4%2024
14th of 182Region 90.9%World 71.2%
Source: World Bank, World Development Indicators. Latest available year shown for each indicator; ranks are among economies reporting that year (highest = 1st). Region = World Bank regional aggregate. Growth, inflation, unemployment, the current account and government debt are shown in the IMF table above where the IMF covers the economy.
Who invests
Source and destination economies
Direct investment positions (stocks) by immediate counterpart economy, as reported to the OECD.
No bilateral positions for this economy
Structure & policy
Sectors and FDI openness
Inward FDI positions by sector
No sector breakdown
FDI Regulatory Restrictiveness
IndexNot covered by the index
Peers
Similar-sized economies in Europe & Central Asia
The six economies in the same World Bank region with the closest GDP, ranked by FDI inflows as a share of GDP (2024).
- 🇲🇪Montenegro7.2%
- 🇦🇩Andorra6.6%
- 🇸🇲San Marino(2023)−0.9%
- 🇱🇮Liechtenstein(2018)−1303.1%
Sources & notes
World Bank, World Development Indicators
- FDI net inflows —
BX.KLT.DINV.CD.WD - FDI net outflows —
BM.KLT.DINV.CD.WD - FDI net inflows, % of GDP —
BX.KLT.DINV.WD.GD.ZS - Gross fixed capital formation —
NE.GDI.FTOT.CD - Personal remittances received —
BX.TRF.PWKR.CD.DT - Net official development assistance received —
DT.ODA.ODAT.CD - Portfolio equity net inflows —
BX.PEF.TOTL.CD.WD - Real GDP growth —
NY.GDP.MKTP.KD.ZG - Inflation (annual average) —
FP.CPI.TOTL.ZG - Unemployment rate —
SL.UEM.TOTL.ZS - Current account balance, % of GDP —
BN.CAB.XOKA.GD.ZS - Exports of goods & services —
NE.EXP.GNFS.CD - Central government debt, % of GDP —
GC.DOD.TOTL.GD.ZS
OECD: FDI statistics by partner economy and by industry (Benchmark Definition, 4th edition) and the FDI Regulatory Restrictiveness Index.
Flows vs positions. Charts on this page show annual balance-of-payments flows. Bilateral and sector figures are positions (accumulated stocks) and are not directly comparable.
Negative values. Net flows can be negative when foreign investors withdraw capital or intra-company loans are repaid faster than new investment arrives.
Timing. Headline figures use 2023, the latest year with broad coverage across economies; charts also show any newer early estimates. Rankings cover economies only, not aggregates.
Counterparts. Bilateral data record the immediate counterpart, so financial centres and conduit economies can appear larger than the ultimate investors behind them.