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Economy of France vs San Marino compared: GDP & Debt

Updated on by Georank

France has a GDP of $3.37T compared to $2.03B for San Marino, ranking 7/197 and 180/197 by economy size, respectively.

France has $3.9T in government debt (116% of GDP), compared to $1.39B (60.6% of GDP) in San Marino.

France vs San Marino GDP by year

France
San Marino
1x
Year GDP, current $
France San Marino
2025 $3,366,315,927,447 -
2024 $3,160,442,622,465 -
2023 $3,056,250,648,138 $2,027,243,194
2022 $2,794,788,137,067 $1,831,701,023
2021 $2,966,433,692,008 $1,855,395,712
2020 $2,647,926,055,110 $1,544,713,785
2019 $2,722,793,515,172 $1,616,231,696
2018 $2,781,576,320,884 $1,655,354,329
2017 $2,588,868,323,335 $1,528,621,193
2016 $2,470,407,619,777 $1,468,342,400
2015 $2,442,483,452,643 $1,419,400,396
2014 $2,861,236,112,552 $1,673,910,988
2013 $2,816,077,607,875 $1,678,741,202
2012 $2,683,007,095,787 $1,604,701,051
2011 $2,870,408,553,990 $1,813,717,695
2010 $2,646,230,027,988 $1,881,191,950
2009 $2,700,075,882,519 $2,064,277,984
2008 $2,926,802,941,586 $2,403,214,436
2007 $2,655,816,911,867 $2,188,653,429
2006 $2,317,861,544,691 $1,909,765,811
2005 $2,192,146,403,028 $1,786,513,631
2004 $2,109,792,297,237 $1,715,341,295
2003 $1,835,095,983,049 $1,462,590,387
2002 $1,492,427,756,382 $1,148,872,076
2001 $1,370,376,677,299 $1,059,529,731
2000 $1,360,959,069,477 $1,007,661,291
1999 $1,486,915,879,702 $1,109,473,282
1998 $1,496,906,382,032 $1,048,316,226
1997 $1,449,392,222,971 $976,606,911
1996 $1,598,889,216,566 -
1995 $1,595,219,345,512 -
1994 $1,385,822,778,828 -
1993 $1,314,383,368,080 -
1992 $1,389,663,073,110 -
1991 $1,258,961,748,634 -
1990 $1,257,649,439,827 -
1989 $1,016,742,237,302 -
1988 $1,010,827,662,152 -
1987 $926,320,855,615 -
1986 $764,946,585,851 -
1985 $547,220,981,165 -
1984 $525,033,325,828 -
1983 $553,356,312,936 -
1982 $578,152,310,610 -
1981 $609,184,791,792 -
1980 $694,529,183,483 -
1979 $608,218,624,730 -
1978 $501,724,418,605 -
1977 $406,401,711,688 -
1976 $368,363,152,144 -
1975 $357,324,307,786 -
1974 $282,739,225,314 -
1973 $261,970,536,240 -
1972 $201,738,881,664 -
1971 $164,694,210,962 -
1970 $147,312,861,698 -
1969 $140,660,914,841 -
1968 $128,710,572,572 -
1967 $118,088,635,381 -
1966 $109,306,730,313 -
1965 $100,927,668,584 -
1964 $93,424,179,943 -
1963 $84,227,606,650 -
1962 $75,196,980,365 -
1961 $67,158,050,215 -
1960 $61,959,085,885 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/france/san-marino | CC BY

GDP per capita in France vs San Marino by year

France
GDP per capita

GDP per capita, PPP
San Marino
GDP per capita

GDP per capita, PPP
1x
Year Current $
France San Marino
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $48,986 - - -
2024 $46,103 $62,557 - -
2023 $44,700 $60,839 $59,871 $78,745
2022 $40,989 $57,043 $54,265 $75,941
2021 $43,725 $52,517 $54,169 $64,745
2020 $39,170 $49,482 $44,427 $55,207
2019 $40,408 $51,130 $46,627 $57,444
2018 $41,418 $46,381 $47,951 $54,461
2017 $38,687 $44,469 $45,192 $52,463
2016 $37,024 $42,880 $44,359 $53,033
2015 $36,702 $40,905 $43,147 $52,247
2014 $43,148 $40,218 $51,260 $52,909
2013 $42,669 $39,583 $50,808 $50,770
2012 $40,864 $37,671 $47,946 $51,274
2011 $43,930 $37,510 $55,601 $56,240
2010 $40,695 $35,908 $56,543 $58,926
2009 $41,728 $34,685 $62,429 $61,970
2008 $45,465 $35,053 $75,902 $71,724
2007 $41,486 $34,066 $70,124 $71,744
2006 $36,432 $32,424 $63,271 $67,434
2005 $34,696 $30,431 $59,878 $63,739
2004 $33,645 $28,921 $58,232 $61,114
2003 $29,480 $28,024 $52,530 $60,224
2002 $24,145 $28,350 $41,791 $57,584
2001 $22,332 $27,347 $39,035 $57,252
2000 $22,341 $26,007 $37,601 $53,713
1999 $24,576 $24,204 $41,932 $52,064
1998 $24,869 $23,263 $40,127 $47,679
1997 $24,169 $22,190 $37,853 $44,426
1996 $26,758 $21,268 - -
1995 $26,792 $20,701 - -
1994 $23,360 $19,892 - -
1993 $22,239 $19,094 - -
1992 $23,615 $18,801 - -
1991 $21,501 $18,198 - -
1990 $21,586 $17,475 - -
1989 $17,547 - - -
1988 $17,550 - - -
1987 $16,176 - - -
1986 $13,430 - - -
1985 $9,657 - - -
1984 $9,312 - - -
1983 $9,862 - - -
1982 $10,360 - - -
1981 $10,956 - - -
1980 $12,565 - - -
1979 $11,063 - - -
1978 $9,167 - - -
1977 $7,459 - - -
1976 $6,792 - - -
1975 $6,617 - - -
1974 $5,261 - - -
1973 $4,907 - - -
1972 $3,809 - - -
1971 $3,137 - - -
1970 $2,833 - - -
1969 $2,729 - - -
1968 $2,518 - - -
1967 $2,328 - - -
1966 $2,173 - - -
1965 $2,024 - - -
1964 $1,891 - - -
1963 $1,723 - - -
1962 $1,554 - - -
1961 $1,402 - - -
1960 $1,307 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/france/san-marino | CC BY

France's GDP per capita is $48,986, ranking 27/197, compared to $59,871 in San Marino, ranking 20/197. Adjusted for purchasing power (GDP per capita PPP), France ranks 30th at $62,557, while San Marino ranks 17th at $78,745.

Economic indicators

France San Marino
Gross domestic product
$3.37T
2025
$2.03B
2023
GDP rank
7/197
2025
180/197
2023
GDP growth
0.84%
2024-2025
0.4%
2022-2023
GDP per capita
$48,986
2025
$59,871
2023
GDP per capita rank
27/197
2025
20/197
2023
GDP per capita, PPP
$62,557
2024
$78,745
2023
GDP per capita PPP rank
30/197
2024
17/197
2023
Government debt
$3.9T
2025
$1.39B
2023
Debt-to-GDP ratio
116%
2025
60.6%
2025
Government debt per person
$56,819
2025
$40,914
2023
Government debt per person rank
8/185
2025
17/185
2023
Average annual personal income after taxes
$35,062
2026
$46,440
2026
Market capitalization of domestic companies
$2.37T
2018
n/a
Number of millionaires
2,388,000
2026
n/a
Number of billionaires
51
2026
n/a
Income share by richest 10%
25%
2023
n/a
Income share by poorest 10%
3%
2023
n/a
Government expenditure, % of GDP
57.5%
2025
22%
2025
Consumer prices inflation
0.94%
2024-2025
2.3%
2024-2025
Unemployment rate
7.7%
2025
4.92%
2022
Population
68871753
34159

Spending and national debt comparison by year

France
Spending

Debt
San Marino
Spending

Debt
1x
Year % of GDP
France San Marino
Government spending Government debt Government spending Government debt
2025 57.5% 116% 22% 60.6%
2024 57.3% 113.2% 20.9% 62.9%
2023 56.8% 109.6% 21.7% 68.3%
2022 58.4% 111.4% 21.7% 70.6%
2021 59.5% 112.8% 37.1% 77.2%
2020 61.7% 114.9% 59.2% 69.8%
2019 55.3% 98.2% 22.4% 56.2%
2018 56.4% 98.5% 24.5% 56.7%
2017 57.7% 98.8% 25.6% 56.6%
2016 57.4% 98.1% 23.4% 21.4%
2015 57.6% 97% 26.3% 19.3%
2014 58.4% 96.2% 23.7% 21%
2013 58.6% 94.6% 30.2% 23.2%
2012 57.9% 91.7% 30.6% 17.2%
2011 57% 88.7% 25.4% 16.6%
2010 57.7% 86.3% 24.4% 20%
2009 58% 84.1% 24.8% 20.1%
2008 54.3% 69.8% 22% 15.5%
2007 53.6% 65.5% 20.7% 12.6%
2006 53.7% 65.4% 19.7% 14.2%
2005 54.3% 68.2% 19.3% 14.5%
2004 54% 66.9% 19% 16.9%
2003 54.4% 65.4% - 16.1%
2002 53.9% 61.3% - 17.2%
2001 52.8% 59.3% - 11.6%
2000 52.6% 59.7% - -
1999 53.7% 61.4% - -
1998 54% 62.1% - -
1997 55.6% 62% - -
1996 56% 60.6% - -
1995 56% 57.8% - -
1994 55.9% 51.6% - -
1993 56.5% 48.2% - -
1992 54% 41.7% - -
1991 52.7% 37.8% - -
1990 51.6% 36.8% - -
1989 48.9% 34% - -
1988 50.1% 33.3% - -
1987 50.7% 33.4% - -
1986 51.3% 31.1% - -
1985 51.9% 30.6% - -
1984 51.2% 29% - -
1983 50.2% 26.6% - -
1982 49.9% 25.3% - -
1981 48.5% 22% - -
1980 46% 20.7% - -
1979 44.9% 21.1% - -
1978 44.7% 21.2% - -
1977 21.4% 15% - -
1976 21.7% 15.1% - -
1975 22% 16.1% - -
1974 19.9% 15.4% - -
1973 19.7% 15.8% - -
1972 19.8% 17.7% - -
1971 20% 20.1% - -
1970 20.5% 21% - -
1969 21.5% 14.4% - -
1968 22.7% 15.8% - -
1967 21.4% 16.1% - -
1966 21.4% 15.3% - -
1965 21.1% 17.6% - -
1964 21% 19.6% - -
1963 22.6% 22.2% - -
1962 21.7% 23.6% - -
1961 21.9% 26.3% - -
1960 22.2% 28.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-07-08).

GeoRank.org/economy/france/san-marino | CC BY

In 2025, France's government spending was $1.93T, accounting for 57.5% of its GDP, while San Marino spent $439M, or 22% of GDP.

Debt-to-GDP ratio is 116% in France and 60.6% in San Marino, ranking 13/185 and 75/185, respectively.

Government deficit by year

Deficit/surplus
France

San Marino
1x
Year Deficit/surplus, % of GDP
France San Marino
2025 -5.11% -1%
2024 -5.79% 0.39%
2023 -5.44% -0.72%
2022 -4.74% 0.42%
2021 -6.58% -16.4%
2020 -8.93% -37.6%
2019 -2.39% -0.11%
2018 -2.32% -1.56%
2017 -3.36% -3.49%
2016 -3.76% -0.19%
2015 -3.89% -3.32%
2014 -4.57% 1.06%
2013 -4.94% -7.74%
2012 -5.17% -7.08%
2011 -5.3% -4.05%
2010 -7.16% -2.24%
2009 -7.38% -2.46%
2008 -3.5% 0.18%
2007 -2.99% 1.83%
2006 -2.66% 1.51%
2005 -3.5% 3.58%
2004 -3.55% 2.44%
2003 -4.09% -
2002 -3.18% -
2001 -1.42% -
2000 -1.32% -
1999 -1.55% -
1998 -2.39% -
1997 -3.71% -
1996 -3.89% -
1995 -5.11% -
1994 -5.46% -
1993 -6.4% -
1992 -4.64% -
1991 -2.89% -
1990 -2.45% -
1989 -1.9% -
1988 -2.7% -
1987 -2.13% -
1986 -3.3% -
1985 -3.08% -
1984 -2.8% -
1983 -2.58% -
1982 -2.91% -
1981 -2.39% -
1980 -0.27% -
1979 -0.36% -
1978 -1.73% -
1977 0.9% -
1976 1.01% -
1975 -0.28% -
1974 3.05% -
1973 1.97% -
1972 1.94% -
1971 -0.13% -
1970 0.02% -
1969 -0.49% -
1968 -2.54% -
1967 -0.8% -
1966 -0.57% -
1965 -0.07% -
1964 -0.25% -
1963 -2.24% -
1962 -1.53% -
1961 -1.36% -
1960 -1.95% -
1959 0.56% -
1958 0.08% -
1957 -1.99% -
1956 -2.62% -
1955 -1.04% -
1954 -0.78% -
1953 -4.79% -
1952 -6.82% -
1951 -4.42% -
1950 -5.56% -
1949 -7.31% -
1948 -9.11% -
1947 -7.6% -
1946 -8.1% -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - -
1939 - -
1938 - -
1937 -6.89% -
1936 -4.76% -
1935 -4.22% -
1934 -4.31% -
1933 -4.96% -
1932 -1.86% -
1931 -2.06% -
1930 -1.65% -
1929 1.48% -
1928 1.13% -
1927 -0.04% -
1926 -0.02% -
1925 -0.87% -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 0.05% -
1912 0.23% -
1911 0.31% -
1910 -0.12% -
1909 -0.11% -
1908 -0.15% -
1907 0.23% -
1906 -0.04% -
1905 0.18% -
1904 0.3% -
1903 0.21% -
1902 -0.37% -
1901 -0.39% -
1900 0.21% -
1899 0.21% -
1898 0.29% -
1897 0.01% -
1896 -0.03% -
1895 -0.07% -
1894 -0.08% -
1893 -0.3% -
1892 -0.03% -
1891 0.36% -
1890 0.31% -
1889 0.09% -
1888 0.18% -
1887 -0.07% -
1886 -0.5% -
1885 -0.59% -
1884 -0.35% -
1883 -0.23% -
1882 -0.15% -
1881 0.64% -
1880 0.65% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/france/san-marino | CC BY

In 2023, France's government deficit, the difference between spending and revenue, was $166B, equivalent to 5.44% of GDP. This compares to San Marino's deficit of $14.7M, or 0.72% of GDP.

Over the past 20 years, France recorded a fiscal deficit in 20 of those years, while San Marino ran a deficit in 13 years. On average, France posted an annual deficit equal to 4.61% of GDP, compared to deficit of 3.8% of GDP for San Marino.

Inflation comparison by year

Inflation
France

San Marino
1x
Year Consumer prices inflation
France San Marino
2025 0.94% 2.3%
2024 2% 1.2%
2023 4.88% 5.9%
2022 5.22% 5.3%
2021 1.64% 1.6%
2020 0.48% -0.1%
2019 1.11% 0.5%
2018 1.85% 1.2%
2017 1.03% 1%
2016 0.18% 0.6%
2015 0.04% 0.1%
2014 0.51% 1.1%
2013 0.86% 1.6%
2012 1.95% 2.8%
2011 2.11% 2.2%
2010 1.53% 2.4%
2009 0.09% 2.4%
2008 2.81% 4.1%
2007 1.49% 2.5%
2006 1.68% 2.1%
2005 1.75% 1.7%
2004 2.14% 1.4%
2003 2.1% 1.3%
2002 1.92% -
2001 1.63% -
2000 1.68% -
1999 0.54% -
1998 0.65% -
1997 1.2% -

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (2003–2025, retrieved 2026-07-08).

GeoRank.org/economy/france/san-marino | CC BY

Over the past 23 years, France has recorded an average annual inflation rate of 1.67%, compared with 1.97% in San Marino. In 2025, inflation was 0.94% in France and 2.3% in San Marino.

Balance of trade

France San Marino
Current account balance
-$9.24B
2025
$446M
2023
Current account balance ranking
173/190
2025
60/190
2023
Current account balance, % of GDP
-0.27%
2025
+22%
2023
Goods imports
$770B
2025
$2.25B
2023
Goods exports
$704B
2025
$2.53B
2023
Service imports
$370B
2025
$894M
2023
Service exports
$429B
2025
$1.25B
2023
Imports of goods and services, % of GDP
33.8%
2025
155%
2023
Exports of goods and services, % of GDP
33.4%
2025
186%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

France San Marino
Economic freedom 64.6 76
Economic freedom ranking 72/197 16/197
Property rights 91.2 n/a
Government integrity 73.4 n/a
Judicial effectiveness 84.7 n/a
Tax burden 54.6 n/a
Government spending 0.9 n/a
Fiscal health 34.8 n/a
Business freedom 78.4 n/a
Labor freedom 59.1 n/a
Monetary freedom 73.2 n/a
Trade freedom 79.4 n/a
Investment freedom 75 n/a
Financial freedom 70 n/a

Other economic metrics

France San Marino
Services, % of GDP
70.9%
2025
56.9%
2023
Industry, % of GDP
16.8%
2025
35.8%
2023
Agriculture, forestry, and fishing, % of GDP
1.4%
2025
0.02%
2023
GNI, Atlas method
$3.34T
2025
$1.83B
2023
GNI per capita, PPP
$65,110
2025
$71,920
2023
Total reserves including gold
$428B
2025
$861M
2025
Total reserves ranking
12/177
2025
144/177
2025
Net foreign direct investment
$7.24B
2025
$52.7M
2023
Net inflows of foreign direct investment
$52.1B
2024
-$18.1M
2023
Net outflows of foreign direct investment
$41.7B
2024
$0
2024
Poverty at national poverty lines
15.6%
2021
n/a
Gross capital formation, % of GDP
21.9%
2025
16.6%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/france/san-marino | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.