San Marino: GDP deflator (base year varies by country)

Key figures

What the numbers say

In 2023, San Marino's GDP deflator (base year varies by country) rose 7.4% on 2022 (from 123.29 to 132.36).

Across the 25 yearly changes before that (1998 to 2022), the average change was +1.5% and a typical year strayed about 1.2% from that (the standard deviation). This year's change was 4.9 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 7.4% in 2023 and the biggest yearly fall was 2% in 2007. 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 upward, about 2 a year. A straight line explains 85% 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 130.65 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 4.52, against 7.4 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.

Closest to San Marino in the 2023 ranking

• Greenland — 1st of 4: 140.95
• Isle of Man — 3rd of 4: 131.23
• Channel Islands — 4th of 4: 100

What this measures

The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. The base year varies by country. This indicator is expressed as a ratio (a÷b).

All 27 values

GDP deflator (base year varies by country) in nearby economies

• Albania — 124.77 (2025)
• Andorra — 127.73 (2025)
• Armenia — 144.93 (2025)
• Austria — 123.03 (2025)
• Azerbaijan — 380.4 (2025)
• Belarus — 134.42 (2025)
• Belgium — 120.8 (2025)
• Bosnia and Herzegovina — 128.9 (2025)
• Bulgaria — 154.2 (2025)
• Channel Islands — 100 (2023)

More financial sector data for San Marino

• Official exchange rate (LCU per US$, period average) — US$0.89 (2025)
• DEC alternative conversion factor (LCU per US$) — US$0.88 (2025)
• GDP deflator, linked series (base year varies by country) — 132.36 (2023)
• Inflation, GDP deflator (annual % growth) — 7.36% (2023)
• Inflation, GDP deflator, linked series (annual % growth) — 7.36% (2023)
• Deposit interest rate (%) — 1.55% (2025)
• Lending interest rate (%) — 4.62% (2025)
• Interest rate spread (lending rate minus deposit rate, %) — 3.07% (2025)
• Consumer price index (2010 = 100) — 131.91 (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is San Marino's GDP deflator (base year varies by country)?

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

How has it changed since 1997?

It is up 56.86% from 84.38 in 1997 (1.75% a year on average, compounded). The highest value was 132.36 in 2023 and the lowest 84.38 in 1997.

Is the latest change in GDP deflator (base year varies by country) unusual for San Marino?

Source

World Bank, World Development Indicators, indicator NY.GDP.DEFL.ZS, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) 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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