San Marino: Net lending (+) / net borrowing (-) (% of GDP)

Key figures

Since 2002 it is up 0.2 percentage points from 0.99% in 2002. The World Bank has no value for 11 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

In 2023, San Marino's net lending (+) / net borrowing (-) (% of GDP) rose 1.3 percentage points on 2022 (from -0.11% to 1.19%).

Across the 8 yearly changes before that (2003 to 2022), the average change was +0.61 percentage points and a typical year strayed about 1.9 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 2.98 percentage points in 2022 and the biggest yearly fall was 2.49 percentage points in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

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

How it compares

In 2023, San Marino had the 3rd highest value of the 18 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

• Tonga — 1st of 18: 5.26%
• Samoa — 2nd of 18: 4.39%
• Vanuatu — 4th of 18: 0.67%
• Iceland — 5th of 18: -1.08%
• Kazakhstan — 6th of 18: -1.14%

What this measures

Net lending (+) / net borrowing (–) equals government revenue minus expense, minus net investment in nonfinancial assets. It is also equal to the net result of transactions in financial assets and liabilities. Net lending/net borrowing is a summary measure indicating the extent to which government is either putting financial resources at the disposal of other sectors in the economy or abroad, or utilizing the financial resources generated by other sectors in the economy or from abroad. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

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 weighted average.

All 11 values

Net lending (+) / net borrowing (-) (% of GDP) in nearby economies

• Albania — -1.04% (2024)
• Armenia — -3.63% (2024)
• Austria — -3.58% (2024)
• Azerbaijan — 3.92% (2024)
• Belarus — 1.27% (2024)
• Belgium — -2.66% (2024)
• Bosnia and Herzegovina — -1.5% (2024)
• Bulgaria — -2.63% (2024)
• Croatia — -1.43% (2023)
• Cyprus — 4.17% (2024)

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

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Questions people ask

What is San Marino's net lending (+) / net borrowing (-) (% of GDP)?

1.19% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2002?

It is up 0.2 percentage points from 0.99% in 2002. The highest value was 4.88% in 2006 and the lowest -5.02% in 2020.

How does San Marino rank?

3rd highest of 18 economies with data for 2023.

Is the latest change in net lending (+) / net borrowing (-) (% of GDP) unusual for San Marino?

In 2023, San Marino's net lending (+) / net borrowing (-) (% of GDP) rose 1.3 percentage points on 2022 (from -0.11% to 1.19%). Across the 8 yearly changes before that (2003 to 2022), the average change was +0.61 percentage points and a typical year strayed about 1.9 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.NLD.TOTL.GD.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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