Germany and San Marino
Germany and San Marino have maintained diplomatic relations since 1995, with particular cooperation in multilateral forums. Human rights, peace and abolition of the death penalty form part of their shared agenda, while economic relations sit within the European environment.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08What merchandise trade shows
In 2025, goods trade between Germany and San Marino totalled 128.8 million current USD.
Documented trade sectors
Within the selected chapters, vehicles and components stands out in shipments from Germany to San Marino, at 39.4 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 128.78 M USD | 2025 · Comtrade |
| Goods: Germany to San Marino | 107.11 M USD | 2025 · Comtrade |
| Goods: San Marino to Germany | 21.67 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: Germany to San Marino | 0.00604 % | 2025 · Comtrade |
| Export share: San Marino to Germany | ||
| Investment stock: Germany in San Marino | ||
| Investment stock: San Marino in Germany |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade · Goods; full calendar year; reporter DEU. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Germany to San Marino
- 2025 · UN Comtrade · Goods; full calendar year; reporter DEU. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: San Marino to Germany
- 2025 · UN Comtrade · Goods; full calendar year; reporter DEU. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Export share: Germany to San Marino
- 2025 · UN Comtrade · Exports to the partner / worldwide exports by the same reporter; same year and coverage.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Some annual indicators refer to different years. Check the period beside each value before comparing them.
| Indicator | Germany | San Marino |
|---|---|---|
| Nominal GDP | 5.05 trillion USD2025 · WB | 2.03 billion USD2023 · WB |
| GDP per capita | 60,496.44 USD2025 · WB | 59,871.33 USD2023 · WB |
| GDP growth | 0.24 %2025 · WB | 0.4 %2023 · WB |
| Policy interest rate | 2.5 %2026-09-16 · BCE | |
| Inflation · annual average | 2.17 %Annual average · 2025 · WB | 2.3 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 3.3 %provisionalprovisionalYear-on-year · Sept. 2026 · Destatis | |
| Unemployment | 3.71 %ILO est.2025 · WB | |
| Budget balance (% of GDP) | -2.7 %IMF est.2025 · IMF | -1 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 62.9 %IMF est.2025 · IMF | 60.6 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 4.51 %2025 · WB | 21.99 %2023 · WB |
| Population | 83,491,2492025 · WB | 33,8602023 · WB |
| Area | 357,680 km²2023 · WB | |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDGermany: 2025 · World BankSan Marino: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- GDP per capita
- Current USD per personGermany: 2025 · World BankSan Marino: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- GDP growth
- Annual real change (%)Germany: 2025 · World BankSan Marino: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- Policy interest rate
- Central bank instrument (%)Germany: 2026-09-16 · ECB: deposit facility; shared euro-area rate · European Central Bank
- Inflation · annual average
- Average annual change in headline CPI (%)Germany: 2025 · Annual average change in the CPI (%) · World BankSan Marino: 2025 · Annual average CPI change (%) · World Bank · Official World Bank series. Observation year, not download date.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedGermany: 2026-09 · Change in headline CPI from the same month of the previous year (%) · Destatis · Published: 2026-09-30 · provisional · Provisional · National headline CPI, year-on-year, not monthly inflation or an annual average. Provisional data or an official advance release; subject to revision.
- Unemployment
- % of the labour force; definition used by the stated institutionGermany: 2025 · World Bank · ILO est.
- Budget balance
- General government (% of GDP)Germany: 2025 · IMF — World Economic Outlook · IMF est.San Marino: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Germany: 2025 · IMF — World Economic Outlook · IMF est.San Marino: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPGermany: 2025 · World BankSan Marino: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- Population
- PeopleGermany: 2025 · World BankSan Marino: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- Area
- Total area in km²; territorial coverage of the sourceGermany: 2023 · Area according to the series' coverage; does not determine sovereignty or effective control · World Bank
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Germany to San Marino
| Product or sector | Value / share |
|---|---|
| Vehicles and components | 39.4 M USD2025 · Source |
| Electrical and electronic equipment | 8.2 M USD2025 · Source |
| Machinery and mechanical appliances | 6.3 M USD2025 · Source |
| Pharmaceutical products | 0.76 M USD2025 · Source |
| Dairy products, eggs and honey | 0.333 M USD2025 · Source |
| Mineral fuels and oils | 0.00158 M USD2025 · Source |
San Marino to Germany
How trade has changed
Millions of current USD · full calendar years
View chart figures
| Period | Total | Germany to San Marino | San Marino to Germany |
|---|---|---|---|
| 2021 | 93.4 | 80.4 | 13 |
| 2022 | 105.4 | 86.8 | 18.6 |
| 2023 | 121.2 | 95.3 | 25.9 |
| 2024 | 125 | 108.6 | 16.3 |
| 2025 | 128.8 | 107.1 | 21.7 |
Connections between people
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Germany living in San Marino | ||
| Residents from San Marino living in Germany | ||
| Study and training: Germany in San Marino | ||
| Study and training: San Marino in Germany | ||
| Academic stays: Germany in San Marino | ||
| Academic stays: San Marino in Germany | ||
| Travel: Germany to San Marino | ||
| Travel: San Marino to Germany |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
Bilateral context
Diplomatic relations were established on 1 October 1995. The German ambassador to Italy is also accredited to San Marino, whose representative to Germany works from San Marino itself. [1]
The scale of both economies
Nominal GDP for Germany is 5,050.9 billion USD (2025), compared with 2 for San Marino (2023). The reference populations are 83.49 and 0.0339 million, respectively. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [5] [6] [7] [8]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
Germany's foreign ministry highlights collaboration at the United Nations and the OSCE, particularly on human rights protection, peace policy and worldwide abolition of capital punishment. Tax relations also develop within the European framework: the tax transparency agreement between the European Union and San Marino was signed on 8 December 2015 and entered into force at the beginning of 2017. The profile distinguishes this instrument in force from association negotiations with the European Union, whose text was concluded in 2023 and which it describes as still awaiting signature and ratification. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Germany and San Marino) totalled 128.8 million current USD. Shipments from the first to the second were 107.1 million; those in the opposite direction, 21.7 million. The difference between the two flows was 85.4 million, in favour of Germany. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from Germany to the partner represented 0.00604% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Five years of trade trends
The consistent series shows 93.4 million USD in 2021 and 128.8 million in 2025. The change between the two endpoints was +37.9 % in current dollars. The highest annual value in the period was recorded in 2025, at 128.8 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [3]
Documented trade sectors
Within the selected chapters, vehicles and components stands out in shipments from Germany to San Marino, at 39.4 million USD in 2025. Within the selected chapters, machinery and mechanical appliances stands out in shipments from San Marino to Germany, at 8 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [4]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — DEU-SMR
Germany's Federal Foreign Office · Institutional source · Accessed: 2026-10-07
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Trade series 2021–2025
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-07
- NY.GDP.MKTP.CD; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-08
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-08
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.