Notes on San Marino

San Marino, the 61-square-kilometer microstate surrounded by Italy, has a population of 33,500 growing at 0%, a nominal GDP of $2.25 billion, and GDP per capita of $65,543, comparable to Austria. The country’s largest export is washing and bottling machines, its median age is 48.6 years, and its life expectancy of 86 years ranks second globally on some lists, with a murder rate of zero per 100,000. Its economy grew 1.5% in 2025, and inflation ranged from 1.24% to 5.93% between 2021 and 2024 under the euro. The microstate’s stable, high-income profile illustrates the quiet prosperity shared by Europe’s small states, which have seen little of note since World War II.