San Marino: Exports, percent of GDP

The latest value from 2023 is 185.99 percent, a decline from 197.41 percent in 2022. In comparison, the world average is 44.91 percent, based on data from 169 countries. Historically, the average for San Marino from 2015 to 2023 is 175.45 percent. The minimum value, 164 percent, was reached in 2019 while the maximum of 197.41 percent was recorded in 2022. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.

The exports of San Marino and other countries are calculated as the total amount of goods and services produced at home and sold abroad. Exports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade.

Definition: Exports of goods includes changes in the economic ownership of goods from residents of the compiling economy to non-residents, irrespective of physical movement of goods across national borders. Exports of services includes services provided by residents to non-residents. 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.