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2023
Product
Exports | Imports $224M | $389M182 of 226 |  200 of 226
2023
Per Capita Product
Exports | Imports $6.62k | $11.5k53 of 220 |  25 of 220

About

Overview In 2023 San Marino was the number 182 economy in the world in terms of total exports and the number 200 in total imports.

Exports The top exports of San Marino are Washing and Bottling Machines ($49.2M), Other Edible Preparations ($25.5M), Packaged Medicaments ($15.2M), Woodworking machines ($14.3M), and Planes, Helicopters, and/or Spacecraft ($12.6M), exporting mostly to Germany ($25.9M), Austria ($22M), United States ($19.3M), Romania ($18.4M), and Brazil ($15.5M).

Imports The top imports of San Marino are Cars ($45.5M), Electricity ($36M), Animal Food ($21.9M), Raw Aluminium ($17.7M), and Petroleum Gas ($14.1M), importing mostly from Germany ($95.1M), Italy ($50M), Netherlands ($35.9M), Spain ($33.7M), and Poland ($31.1M).

Location San Marino borders Italy by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of San Marino.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Washing and Bottling Machines$49.2M
Top Destination (2023)Germany$25.9M

In 2023, San Marino exported a total of $224M, making it the number 182 exporter in the world. During the last five reported years the exports of San Marino have changed by $66M from $158M in 2018 to $224M in 2023.

The most recent exports are led by Washing and Bottling Machines ($49.2M), Other Edible Preparations ($25.5M), Packaged Medicaments ($15.2M), Woodworking machines ($14.3M), and Planes, Helicopters, and/or Spacecraft ($12.6M). The most common destination for the exports of San Marino are Germany ($25.9M), Austria ($22M), United States ($19.3M), Romania ($18.4M), and Brazil ($15.5M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Germany$7.49M (+ 40.6%)
United Arab Emirates$4.44M (+ 101%)
Romania$3.46M (+ 23.1%)
Fastest Growing Import Markets (2022 - 2023)
Germany$9.2M (+ 10.7%)
Netherlands$5.72M (+ 18.9%)
Norway$4.35M (+ 65%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

San Marino has a high level of specialization in Stone Working Machines (179), Woodworking machines (170), Washing and Bottling Machines (144), Silk Fabrics (117), and Artificial Filament Yarn Woven Fabric (117). Specialization is measured using RCA, an index that takes the ratio between San Marino observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for San Marino according to the relatedness index, were Mannequins (0.16), Hats (0.16), Non-Knit Women's Undergarments (0.16), Knit Active Wear (0.16), and Knit Socks and Hosiery (0.16). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that San Marino is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of San Marino. These are products that tend to be co-exported with the products that San Marino exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

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