San Marino profile

Demography and Health

San Marino is one of the world’s smallest states by population, with about 33,977 inhabitants in 2024, a scale that shapes its social and economic dynamics. Despite the tiny size, the country enjoys exceptionally high life expectancy at birth, 85.7 years in 2023, ranking second globally and signaling strong health outcomes and effective care across generations. The birth rate remains very low at 5.6 births per 1,000 people (2023), while the crude death rate stands at 8.3 per 1,000 (2023), suggesting a demographic tilt toward an aging population unless offset by migration or higher fertility in the near term. The under-5 mortality rate is remarkably low at 1.4 per 1,000 live births (2023), reinforcing the strength of maternal and child health services. A small positive net migration in 2024 (+37 people) indicates some inflow of residents, which can help mitigate aging pressures and support a more dynamic labor pool, albeit modest in scale given the country’s population. Health financing shows substantial public investment: current health expenditure is 7.41% of GDP (2022), and domestic general government health expenditure per capita, PPP, is 5,207 international dollars (2022), pointing to a robust willingness and capacity to fund health services despite a limited tax base. With 87% of the population using the Internet in 2023, digital access complements health and social services, enabling telemedicine, health information, and remote monitoring where appropriate. Overall, demography and health reflect a high-quality, well-funded health system embedded in a small but stable society, poised to address aging trends through targeted social and health policies.

Economy

San Marino exhibits a very high level of affluence on a per-capita basis, anchored by GDP per capita of 54,265 current US$ in 2022 and a GDP per capita, PPP of 75,941 international dollars, placing the country in the upper echelons of global income rankings. The macroeconomy benefits from an exceptionally open external sector: exports of goods and services amount to 197.0% of GDP (2022), while imports are 173.0% of GDP, indicating a highly trade-intensive economy with a service- and re-export-oriented orientation. The strong external position is reinforced by a current account balance of 15.5% of GDP (2022), signaling a sizable surplus that can finance investment, social spending, or reserve accumulation without resorting to external financing. The labor market shows relatively low unemployment at 4.91% (2022), consistent with a small, flexible economy supported by high-value services. Inflation remains subdued at 1.24% in 2024, contributing to price stability that supports consumer confidence and investment planning. Public health spending is notably high for a microstate: current health expenditure is 7.41% of GDP (2022), with domestic general government health expenditure per capita, PPP, of 5,207 international dollars (2022), underscoring a strong public commitment to health outcomes. The private sector benefits from a highly educated workforce and stable institutions, while the small population size raises the importance of attracting investment and leveraging local strengths in services, finance, and tourism. The presence of high per-capita incomes and a favorable fiscal environment creates room for strategic investments aimed at maintaining competitiveness and social well-being.

Trade and Investment

Trade and investment dynamics in San Marino are dominated by a highly open and service-oriented external sector. Exports of goods and services reach 197.0% of GDP (2022), while imports stand at 173.0% of GDP (2022), reflecting an economy that channels significant portions of its activity through cross-border services, financial dealings, and international exchanges rather than relying on large domestic production alone. The resulting current account surplus of 15.5% of GDP (2022) indicates that San Marino runs a strong external position, which can fund public services, domestic investment, and potential stabilization buffers against shocks. Digital connectivity is well developed, with 87% of the population using the Internet (2023), supporting e-commerce, digital services, and cross-border business activities that feed into the country’s trade profile. Innovation activity exists but remains modest in scale: resident patent applications numbered 7 in 2021, reflecting a small but ongoing culture of creative and technical work within a microstate framework. The trade profile suggests opportunities to deepen high-value service exports—such as financial services, professional services, and digital platforms—while maintaining the efficiency and reliability that high governance standards help sustain. Overall, San Marino’s trade and investment landscape is characterized by openness, robust external surpluses, and a focus on high-value, cross-border service activities that align with its small-scale but highly developed economy.

Governance and Institutions

governance indicators depict a stable and capable state framework. Political Stability and Absence of Violence/Terrorism score 1.18 (2023), with Regulatory Quality at 0.931 (2023), Rule of Law at 1.48 (2023), Control of Corruption at 1.25 (2023), and Government Effectiveness at 1.2 (2023) all pointing to a governance environment that is relatively stable, predictable, and effective by international standards. Together, these metrics imply strong institutions capable of supporting policy implementation, rule of law, and the enforcement of regulations necessary for a secure business climate and high public service quality. The unemployment rate of 4.91% (2022) is modest, consistent with a small economy where job opportunities are concentrated in high-value services. Net migration of 37.0 (2024) suggests a positive but modest inflow of people, which can help offset aging trends and sustain human capital in a tight labor market. High life expectancy, strong health and social spending, and a favorable current account position reinforce confidence in the governance framework and its ability to sustain social cohesion, investor trust, and long-term planning. Overall, the governance indicators reflect a credible policy environment that supports growth, resilience, and high standards of public administration in a microstate context.

Infrastructure and Technology

Digital connectivity and infrastructure are strong assets for San Marino. Internet usage stands at 87% of the population in 2023, indicating broad digital inclusion that supports government services, business activity, and citizen engagement. The combination of high per-capita income, a favorable governance climate, and large current account surpluses suggests that the country can finance and maintain advanced infrastructure and public services. The innovation footprint—resident patent applications totaling 7 in 2021—signals a modest but active R&D culture appropriate for a microstate that relies heavily on specialized services and cross-border collaboration rather than large-scale domestic manufacturing. The small population base can enable high service quality, particularly in health, finance, and administrative functions, but it may limit economies of scale in infrastructure investments. Overall, San Marino demonstrates a modern, service-oriented infrastructure and digital environment that supports both residents and international business, while continuing to invest in innovation and connectivity to sustain competitiveness in a global context.

Environment and Sustainability

The dataset provides limited direct environmental indicators for San Marino, which constrains a full environmental assessment. What is evident is a high-income, high-capability state with strong governance and health outcomes, which creates a favorable platform for sustainable policy development. The absence of explicit metrics on emissions, energy mix, water resources, waste management, and climate resilience means the environmental picture remains incomplete. Given San Marino’s compact geography and proximity to Europe, future sustainability efforts would benefit from targeted data on decarbonization progress, energy efficiency, and resource management to ensure alignment with international climate goals and regional standards. The prudent approach is to expand environmental monitoring and reporting to capture carbon intensity, renewable energy adoption, and resilience planning—areas where microstates can make rapid, meaningful progress and demonstrate leadership in sustainable development within a European context.