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Economy of Israel vs San Marino compared: GDP & Debt

Updated on by Georank

Israel has a GDP of $611B compared to $2.03B for San Marino, ranking 27/197 and 180/197 by economy size, respectively.

Israel has $418B in government debt (68.5% of GDP), compared to $1.39B (60.6% of GDP) in San Marino.

Israel vs San Marino GDP by year

Israel
San Marino
1x
Year GDP, current $
Israel San Marino
2025 $610,777,842,874 -
2024 $542,284,494,491 -
2023 $513,393,395,492 $2,027,243,194
2022 $525,157,951,213 $1,831,701,023
2021 $489,735,019,666 $1,855,395,712
2020 $410,908,899,711 $1,544,713,785
2019 $399,207,771,082 $1,616,231,696
2018 $375,470,422,244 $1,655,354,329
2017 $357,360,816,857 $1,528,621,193
2016 $321,083,954,798 $1,468,342,400
2015 $302,841,190,258 $1,419,400,396
2014 $314,376,760,832 $1,673,910,988
2013 $298,045,324,736 $1,678,741,202
2012 $263,172,104,091 $1,604,701,051
2011 $267,739,352,609 $1,813,717,695
2010 $239,372,857,534 $1,881,191,950
2009 $213,112,649,594 $2,064,277,984
2008 $220,952,472,408 $2,403,214,436
2007 $184,448,882,452 $2,188,653,429
2006 $158,706,516,002 $1,909,765,811
2005 $147,346,035,831 $1,786,513,631
2004 $139,925,423,025 $1,715,341,295
2003 $131,278,887,815 $1,462,590,387
2002 $125,215,963,105 $1,148,872,076
2001 $134,889,159,474 $1,059,529,731
2000 $136,409,902,632 $1,007,661,291
1999 $121,329,240,042 $1,109,473,282
1998 $120,468,659,246 $1,048,316,226
1997 $119,389,303,067 $976,606,911
1996 $115,051,957,577 -
1995 $105,432,315,611 -
1994 $90,684,108,118 -
1993 $79,806,598,120 -
1992 $79,408,652,426 -
1991 $70,954,941,681 -
1990 $61,978,459,022 -
1989 $52,411,116,588 -
1988 $52,618,458,014 -
1987 $43,022,977,765 -
1986 $35,812,041,620 -
1985 $28,887,898,639 -
1984 $30,626,695,891 -
1983 $32,655,591,256 -
1982 $29,237,231,967 -
1981 $26,865,420,933 -
1980 $25,379,585,067 -
1979 $22,595,788,591 -
1978 $17,690,363,444 -
1977 $18,245,847,441 -
1976 $15,946,502,888 -
1975 $16,131,806,290 -
1974 $17,162,009,924 -
1973 $11,895,229,181 -
1972 $9,216,866,299 -
1971 $7,048,191,876 -
1970 $7,402,142,195 -
1969 $6,293,966,357 -
1968 $5,455,059,532 -
1967 $4,759,447,914 -
1966 $4,700,397,692 -
1965 $4,326,412,951 -
1964 $4,021,861,430 -
1963 $3,533,767,055 -
1962 $2,964,323,618 -
1961 $3,706,297,903 -
1960 $3,068,690,949 -

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

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

GDP per capita in Israel vs San Marino by year

Israel
GDP per capita

GDP per capita, PPP
San Marino
GDP per capita

GDP per capita, PPP
1x
Year Current $
Israel San Marino
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $60,337 - - -
2024 $54,217 $57,236 - -
2023 $52,126 $55,171 $59,871 $78,745
2022 $54,947 $53,619 $54,265 $75,941
2021 $52,258 $46,162 $54,169 $64,745
2020 $44,591 $40,955 $44,427 $55,207
2019 $44,092 $41,325 $46,627 $57,444
2018 $42,269 $40,190 $47,951 $54,461
2017 $41,013 $39,471 $45,192 $52,463
2016 $37,571 $38,189 $44,359 $53,033
2015 $36,138 $35,871 $43,147 $52,247
2014 $38,265 $34,816 $51,260 $52,909
2013 $36,981 $34,827 $50,808 $50,770
2012 $33,269 $32,484 $47,946 $51,274
2011 $34,477 $31,314 $55,601 $56,240
2010 $31,399 $29,456 $56,543 $58,926
2009 $28,470 $28,087 $62,429 $61,970
2008 $30,231 $28,084 $75,902 $71,724
2007 $25,689 $28,307 $70,124 $71,744
2006 $22,500 $26,385 $63,271 $67,434
2005 $21,262 $25,701 $59,878 $63,739
2004 $20,550 $26,078 $58,232 $61,114
2003 $19,624 $24,702 $52,530 $60,224
2002 $19,059 $26,101 $41,791 $57,584
2001 $20,949 $25,806 $39,035 $57,252
2000 $21,690 $25,766 $37,601 $53,713
1999 $19,809 $23,415 $41,932 $52,064
1998 $20,176 $22,927 $40,127 $47,679
1997 $20,457 $22,279 $37,853 $44,426
1996 $20,213 $21,672 - -
1995 $19,014 $20,642 - -
1994 $16,796 $19,478 - -
1993 $15,169 $18,218 - -
1992 $15,500 $17,553 - -
1991 $14,337 $16,486 - -
1990 $13,300 $15,721 - -
1989 $11,601 - - -
1988 $11,846 - - -
1987 $9,847 - - -
1986 $8,330 - - -
1985 $6,824 - - -
1984 $7,364 - - -
1983 $7,955 - - -
1982 $7,253 - - -
1981 $6,791 - - -
1980 $6,545 - - -
1979 $5,968 - - -
1978 $4,794 - - -
1977 $5,050 - - -
1976 $4,514 - - -
1975 $4,669 - - -
1974 $5,082 - - -
1973 $3,629 - - -
1972 $2,928 - - -
1971 $2,297 - - -
1970 $2,489 - - -
1969 $2,188 - - -
1968 $1,946 - - -
1967 $1,734 - - -
1966 $1,788 - - -
1965 $1,688 - - -
1964 $1,625 - - -
1963 $1,485 - - -
1962 $1,293 - - -
1961 $1,696 - - -
1960 $1,452 - - -

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

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

Israel's GDP per capita is $60,337, ranking 19/197, compared to $59,871 in San Marino, ranking 20/197. Adjusted for purchasing power (GDP per capita PPP), Israel ranks 36th at $57,236, while San Marino ranks 17th at $78,745.

Economic indicators

Israel San Marino
Gross domestic product
$611B
2025
$2.03B
2023
GDP rank
27/197
2025
180/197
2023
GDP growth
2.93%
2024-2025
0.4%
2022-2023
GDP per capita
$60,337
2025
$59,871
2023
GDP per capita rank
19/197
2025
20/197
2023
GDP per capita, PPP
$57,236
2024
$78,745
2023
GDP per capita PPP rank
36/197
2024
17/197
2023
Government debt
$418B
2025
$1.39B
2023
Debt-to-GDP ratio
68.5%
2025
60.6%
2025
Government debt per person
$41,338
2025
$40,914
2023
Government debt per person rank
16/185
2025
17/185
2023
Average annual personal income after taxes
$48,251
2026
$46,440
2026
Market capitalization of domestic companies
$331B
2024
n/a
Number of millionaires
195,000
2026
n/a
Number of billionaires
42
2026
n/a
Income share by richest 10%
27%
2022
n/a
Income share by poorest 10%
1.8%
2022
n/a
Government expenditure, % of GDP
43.6%
2025
22%
2025
Consumer prices inflation
3.04%
2024-2025
2.3%
2024-2025
Central bank interest rate
3.75%
2026
n/a
Unemployment rate
3%
2025
4.92%
2022
Population
10334048
34159

Spending and national debt comparison by year

Israel
Spending

Debt
San Marino
Spending

Debt
1x
Year % of GDP
Israel San Marino
Government spending Government debt Government spending Government debt
2025 43.6% 68.5% 22% 60.6%
2024 43.7% 67.7% 20.9% 62.9%
2023 39.6% 61.3% 21.7% 68.3%
2022 36.9% 60.3% 21.7% 70.6%
2021 40.1% 67.7% 37.1% 77.2%
2020 44.8% 71.1% 59.2% 69.8%
2019 38.7% 59.3% 22.4% 56.2%
2018 39.2% 60.1% 24.5% 56.7%
2017 38.4% 59.8% 25.6% 56.6%
2016 37.9% 61.7% 23.4% 21.4%
2015 37.6% 62.8% 26.3% 19.3%
2014 38.3% 65.8% 23.7% 21%
2013 39.7% 66% 30.2% 23.2%
2012 39.6% 66.9% 30.6% 17.2%
2011 39.3% 67.2% 25.4% 16.6%
2010 39.7% 69% 24.4% 20%
2009 41.4% 72.6% 24.8% 20.1%
2008 41.2% 70.2% 22% 15.5%
2007 40.2% 70.8% 20.7% 12.6%
2006 41.6% 77.7% 19.7% 14.2%
2005 42.3% 85.2% 19.3% 14.5%
2004 43% 88.3% 19% 16.9%
2003 45.4% 89.7% - 16.1%
2002 50% 87.2% - 17.2%
2001 46.1% 81.1% - 11.6%
2000 43.4% 77.2% - -
1999 53.6% 94.8% - -
1998 55% 101% - -
1997 52.6% 99.3% - -
1996 53.2% 100.3% - -
1995 52.8% 102.3% - -
1994 41.7% 110.2% - -
1993 42.2% 118.3% - -
1992 44.1% 119.6% - -
1991 34.4% 123.7% - -
1990 46.8% 138.3% - -
1989 47.5% 147.4% - -
1988 46.5% 145.4% - -
1987 52.8% 143.2% - -
1986 55.7% 162.5% - -
1985 65.2% 199% - -
1984 - 284% - -
1983 - 260.5% - -
1982 69.7% - - -
1981 71.8% - - -
1980 69.4% 154.3% - -
1979 70.1% 155.5% - -
1978 62.2% 133.6% - -
1977 69.1% 142% - -
1976 66.3% 97.4% - -
1975 62% 85.1% - -
1974 - 79.8% - -
1973 - 62.1% - -
1972 - 63.9% - -
1971 - - - -
1970 41.6% - - -
1969 41.1% - - -
1968 39.4% - - -
1967 33.9% - - -
1966 29.6% - - -
1965 27.8% - - -
1964 28.2% - - -
1963 26.9% - - -
1962 27.7% - - -
1961 30.3% - - -
1960 30.4% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Israel's government spending was $266B, accounting for 43.6% of its GDP, while San Marino spent $439M, or 22% of GDP.

Debt-to-GDP ratio is 68.5% in Israel and 60.6% in San Marino, ranking 60/185 and 75/185, respectively.

Government deficit by year

Deficit/surplus
Israel

San Marino
1x
Year Deficit/surplus, % of GDP
Israel San Marino
2025 -5.22% -1%
2024 -8.07% 0.39%
2023 -5.38% -0.72%
2022 0.3% 0.42%
2021 -3.37% -16.4%
2020 -10.6% -37.6%
2019 -3.79% -0.11%
2018 -3.58% -1.56%
2017 -1.17% -3.49%
2016 -1.78% -0.19%
2015 -1.2% -3.32%
2014 -2.28% 1.06%
2013 -4.07% -7.74%
2012 -4.46% -7.08%
2011 -3.43% -4.05%
2010 -3.72% -2.24%
2009 -6.53% -2.46%
2008 -3.49% 0.18%
2007 -0.43% 1.83%
2006 -0.94% 1.51%
2005 -2.74% 3.58%
2004 -3.4% 2.44%
2003 -5.03% -
2002 -8.21% -
2001 -4.06% -
2000 -0.8% -
1999 -6.26% -
1998 -7.99% -
1997 -4.84% -
1996 -5.97% -
1995 -4.28% -
1994 -5.62% -
1993 -5.62% -
1992 -8% -
1991 -7.04% -
1990 -9.67% -
1989 -9.03% -
1988 -7.57% -
1987 -7.47% -
1986 -7.51% -
1985 -14.2% -
1984 - -
1983 - -
1982 -13.8% -
1981 -23.5% -
1980 -19.6% -
1979 -16.7% -
1978 -14.7% -
1977 -20.3% -
1976 -19.4% -
1975 -19.6% -
1974 - -
1973 - -
1972 - -
1971 - -
1970 -16% -
1969 -15.3% -
1968 -11.7% -
1967 -7.68% -
1966 -4.35% -
1965 -2.72% -
1964 -3.65% -
1963 -4.41% -
1962 -4.09% -
1961 -5.86% -
1960 -6.62% -
1959 -7.23% -
1958 -8.31% -
1957 -7.17% -
1956 -9.3% -
1955 -4.3% -
1954 -7.84% -
1953 -8.32% -
1952 -7.19% -
1951 -8.13% -
1950 -10.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08).

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

In 2023, Israel's government deficit, the difference between spending and revenue, was $27.6B, equivalent to 5.38% of GDP. This compares to San Marino's deficit of $14.7M, or 0.72% of GDP.

Over the past 20 years, Israel recorded a fiscal deficit in 19 of those years, while San Marino ran a deficit in 13 years. On average, Israel posted an annual deficit equal to 3.3% of GDP, compared to deficit of 3.8% of GDP for San Marino.

Inflation comparison by year

Inflation
Israel

San Marino
1x
Year Consumer prices inflation
Israel San Marino
2025 3.04% 2.3%
2024 3.07% 1.2%
2023 4.23% 5.9%
2022 4.41% 5.3%
2021 1.48% 1.6%
2020 -0.58% -0.1%
2019 0.82% 0.5%
2018 0.81% 1.2%
2017 0.25% 1%
2016 -0.54% 0.6%
2015 -0.62% 0.1%
2014 0.47% 1.1%
2013 1.59% 1.6%
2012 1.68% 2.8%
2011 3.49% 2.2%
2010 2.7% 2.4%
2009 3.37% 2.4%
2008 4.53% 4.1%
2007 0.47% 2.5%
2006 2.05% 2.1%
2005 1.34% 1.7%
2004 -0.42% 1.4%
2003 0.71% 1.3%
2002 5.8% -
2001 1.12% -
2000 1.03% -
1999 5.19% -
1998 5.49% -
1997 8.95% -

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/israel/san-marino | CC BY

Over the past 23 years, Israel has recorded an average annual inflation rate of 1.67%, compared with 1.97% in San Marino. In 2025, inflation was 3.04% in Israel and 2.3% in San Marino.

Balance of trade

Israel San Marino
Current account balance
$8.53B
2025
$446M
2023
Current account balance ranking
26/190
2025
60/190
2023
Current account balance, % of GDP
+1.4%
2025
+22%
2023
Goods imports
$102B
2025
$2.25B
2023
Goods exports
$76.2B
2025
$2.53B
2023
Service imports
$53.2B
2025
$894M
2023
Service exports
$92.4B
2025
$1.25B
2023
Imports of goods and services, % of GDP
25.4%
2025
155%
2023
Exports of goods and services, % of GDP
27.6%
2025
186%
2023

Economic freedom indices

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

Israel San Marino
Economic freedom 68.4 76
Economic freedom ranking 47/197 16/197
Property rights 73.1 n/a
Government integrity 66.2 n/a
Judicial effectiveness 68.1 n/a
Tax burden 60.2 n/a
Government spending 52 n/a
Fiscal health 60.8 n/a
Business freedom 72.4 n/a
Labor freedom 56.8 n/a
Monetary freedom 78.2 n/a
Trade freedom 82.8 n/a
Investment freedom 70 n/a
Financial freedom 80 n/a

Other economic metrics

Israel San Marino
Services, % of GDP
72.8%
2024
56.9%
2023
Industry, % of GDP
17.2%
2024
35.8%
2023
Agriculture, forestry, and fishing, % of GDP
1.29%
2024
0.02%
2023
GNI, Atlas method
$569B
2025
$1.83B
2023
GNI per capita, PPP
$58,870
2025
$71,920
2023
Total reserves including gold
$229B
2025
$861M
2025
Total reserves ranking
18/177
2025
144/177
2025
Net foreign direct investment
-$11.8B
2025
$52.7M
2023
Net inflows of foreign direct investment
$14.8B
2024
-$18.1M
2023
Net outflows of foreign direct investment
$9.92B
2024
$0
2024
Poverty at national poverty lines
22%
2020
n/a
Gross capital formation, % of GDP
24.3%
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/israel/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 (2000–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, 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)
  8. Central Intelligence Agency (CIA) (2020, 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.