San Marino: Trade balance, percent of GDP

The latest value from 2023 is 31 percent, an increase from 24.39 percent in 2022. In comparison, the world average is -4.58 percent, based on data from 169 countries. Historically, the average for San Marino from 2015 to 2023 is 25.25 percent. The minimum value, 20.73 percent, was reached in 2019 while the maximum of 31 percent was recorded in 2023. See the global rankings for that indicator or use the country comparator to compare trends over time.

The trade balance for San Marino and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.

Definition: The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.