San Marino: Compensation of employees (% of expense)

Key figures

What the numbers say

In 2023, San Marino's compensation of employees (% of expense) rose 1.38 percentage points on 2022 (from 22.08% to 23.46%).

Across the 20 yearly changes before that (2003 to 2022), the average change was −0.6 percentage points and a typical year strayed about 1.42 percentage points from that (the standard deviation). This year's change was 1.4 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 2.75 percentage points in 2005 and the biggest yearly fall was 3.35 percentage points in 2004. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2023 the straight-line trend is downward, about 0.82 percentage points a year. A straight line explains 92% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

A straight-line projection, tested first

Extending that straight line gives about 20.43% for 2026. We show this only because the same method, fitted on earlier years, predicted 2021 to 2023 better than "no change" would have: its average miss was 0.85%, against 1.81% for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2023, San Marino had the 34th highest value of the 79 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to San Marino in the 2023 ranking

• Bahamas, The — 30th of 79: 25.91%
• Bosnia and Herzegovina — 31st of 79: 25.77%
• Iceland — 32nd of 79: 23.85%
• Côte d'Ivoire — 34th of 79: 23.34%
• Thailand — 35th of 79: 22.6%
• Israel — 36th of 79: 22.43%

What this measures

Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

Regional and income-group figures are computed by the World Bank as a median.

All 23 values

Compensation of employees (% of expense) in nearby economies

• Albania — 20.53% (2023)
• Armenia — 19.33% (2023)
• Austria — 10.07% (2023)
• Azerbaijan — 14.23% (2022)
• Belarus — 14.06% (2023)
• Belgium — 5.87% (2022)
• Bosnia and Herzegovina — 25.77% (2023)
• Bulgaria — 18.02% (2023)
• Croatia — 14.53% (2023)
• Cyprus — 27.44% (2023)

More public sector data for San Marino

• Central government debt, total (current LCU) — 1.77 billion (2024)
• Grants and other revenue (current LCU) — 203.86 million (2024)
• Grants and other revenue (% of revenue) — 26.04% (2024)
• Social contributions (current LCU) — 240.73 million (2024)
• Social contributions (% of revenue) — 30.75% (2024)
• Revenue, excluding grants (current LCU) — 778.32 million (2024)
• Taxes on goods and services (current LCU) — 147.33 million (2024)
• Taxes on goods and services (% of revenue) — 18.82% (2024)
• Customs and other import duties (current LCU) — 2.33 million (2024)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is San Marino's compensation of employees (% of expense)?

23.46% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is down 12.74 percentage points from 36.21% in 1995. The highest value was 36.21% in 1995 and the lowest 22.08% in 2022.

How does San Marino rank?

Source

World Bank, World Development Indicators, indicator GC.XPN.COMP.ZS, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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