The economy of San Marino is based on banking, wearing apparel, including fabrics, electronics, ceramics, tiles, furniture, paints, and spirits/wines. San Marino sells collectible postage stamps to philatelists. The main agricultural products are wine and cheeses.
The per capita level of output and standard of living are comparable to those of Italy, which supplies much of its food. In addition, San Marino maintains the lowest unemployment rate in Europe, has a state budget surplus, and no national debt. Income taxes are much lower than in Italy, and there are therefore extremely strict requirements to obtain citizenship. One of the greatest sources of income from tourism comes from the sale of historic coins and stamps. In 1894, San Marino issued the first commemorative stamps and since then that has been part of a large livelihood in the republic. All 10 of the Post Offices of San Marino sell these stamps and collectible coins, including "Legal Gold Tender Coins".
San Marino's main export partners are Romania, Austria, Germany, Brazil, France, Russia, Poland, United Kingdom, United States, Slovenia.
San Marino's economy is based on production of food crops, sheep farming, and stone quarrying. Today farming activities focus on grain, vines and orchards, as well as animal husbandry (cattle and swine).
Although San Marino is not a European Union member, it is allowed to use the euro as its currency by arrangement with the Council of the European Union; it is also granted the right to use its own designs on the national side of the euro coins. Before the euro, the Sammarinese lira was pegged to, and exchangeable with, the Italian lira. The small number of Sammarinese euro coins, as was the case with the lira before it, are primarily of interest to coin collectors.
Key industries include banking, electronics, and ceramics. The main agricultural products are wine and cheese.
San Marino's postage stamps, which are valid for mail posted in the country, are mostly sold to philatelists and are a source of income. San Marino is a member of the Small European Postal Administration Cooperation.
The per capita level of US$55,449 and standard of living are comparable to that of Denmark. San Marino imports goods such as food from Italy.
San Marino's main import partners are Netherlands, Germany, Romania, Italy, Poland, France, Slovakia, Belgium-Luxembourg, Russia, Austria.
San Marino Customs Contacts
San Marino Chamber of Commerce Industry, Craft and Agriculture:
Address: Strada di Paderna, 2, 47895 Fiorina di Domagnano, (Republic of San Marino)
Telephone: +378 0549980380
Fax +378 0549944554
San Marino is a microstate surrounded by Italy, situated on the Italian Peninsula on the northeastern side of the Apennine Mountains. It is a member of the International Monetary Fund and the United Nations.
Trade between the European Community and San Marino is exempt from all customs duties. Imports from non-EU countries are subject to customs duties - the same established by EU countries.
Labelling of goods follows normal commercial practice, the label should indicate:
Imported goods must be accompanied by import permits, health and phitosanitary certificates.
The following documents will be required for exporting or importing in San Marino: