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• GDP: €1,180 million (2006).
• Main exports: Building stone, lime, wood, chestnuts and wheat.
• Main imports: Manufactured goods and food.
• Main trade partners: Italy, Western Europe, Eastern Europe, South America and China.
• Main exports: Building stone, lime, wood, chestnuts and wheat.
• Main imports: Manufactured goods and food.
• Main trade partners: Italy, Western Europe, Eastern Europe, South America and China.
Economy
Light industries have been expanding quickly in recent years as the government seeks to diversify the economy away from tourism. Nonetheless, tourism continues to provide much of the republic's income, accounting for about half of GDP.
Quarried stone is an arcane though important export. Another unusual source of revenue is the sale of postage stamps and coins: both are popular with collectors and together account for over 10% of government income.
San Marino enjoys the status of a tax haven, as a growing number of non-resident deposits have been made in the principality's banks.
Quarried stone is an arcane though important export. Another unusual source of revenue is the sale of postage stamps and coins: both are popular with collectors and together account for over 10% of government income.
San Marino enjoys the status of a tax haven, as a growing number of non-resident deposits have been made in the principality's banks.
Business Etiquette
A suit is recommended and prior appointments are absolutely essential. Avoid making appointments early in the morning or straight after lunch. A knowledge of Italian is useful.
Office hours: Mon-Fri 0900-1700.
Office hours: Mon-Fri 0900-1700.
Conferences & Conventions
For information, contact the State Tourist Office (see Contact Addresses).