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Economy of Mexico vs San Marino compared: GDP & Debt

Updated on by Georank team

Mexico has a GDP of $1.86T compared to $2.03B for San Marino, ranking 13/197 and 180/197 by economy size, respectively.

Mexico has $1.08T in government debt (58.3% of GDP), compared to $1.39B (63.9% of GDP) in San Marino.

Mexico vs San Marino GDP by year

Mexico
San Marino
1x
Year GDP, current $
Mexico San Marino
2024 $1,856,365,616,166 -
2023 $1,798,317,581,487 $2,027,527,228
2022 $1,466,934,724,293 $1,829,211,864
2021 $1,316,569,466,686 $1,855,652,786
2020 $1,121,064,767,308 $1,541,248,249
2019 $1,304,106,203,902 $1,616,340,692
2018 $1,256,300,182,880 $1,655,353,653
2017 $1,190,721,475,906 $1,528,620,346
2016 $1,112,233,497,453 $1,468,343,140
2015 $1,213,294,467,717 $1,419,401,071
2014 $1,364,507,717,614 $1,673,911,426
2013 $1,327,436,290,283 $1,678,741,475
2012 $1,255,110,424,818 $1,604,701,299
2011 $1,229,013,703,417 $1,813,717,439
2010 $1,105,424,238,731 $1,881,191,925
2009 $943,437,415,025 $2,064,277,126
2008 $1,161,553,459,715 $2,403,213,305
2007 $1,102,355,554,972 $2,188,654,628
2006 $1,020,265,057,882 $1,909,765,165
2005 $917,571,853,529 $1,786,514,058
2004 $819,459,227,375 $1,715,340,543
2003 $765,549,967,703 $1,462,590,267
2002 $810,666,116,402 $1,148,872,072
2001 $796,064,590,549 $1,059,529,812
2000 $742,061,329,749 $1,007,661,367
1999 $631,249,359,702 $1,109,473,368
1998 $557,461,102,631 $1,048,316,226
1997 $523,449,530,464 $976,606,911
1996 $432,157,945,024 -
1995 $380,157,469,867 -
1994 $553,618,247,901 -
1993 $530,160,763,663 -
1992 $363,157,832,924 -
1991 $313,139,656,146 -
1990 $261,253,675,693 -
1989 $221,403,098,267 -
1988 $181,611,150,497 -
1987 $147,542,558,209 -
1986 $134,556,034,673 -
1985 $195,241,069,482 -
1984 $184,230,754,105 -
1983 $156,167,000,433 -
1982 $184,602,611,610 -
1981 $263,797,827,860 -
1980 $205,577,055,466 -
1979 $134,531,900,899 -
1978 $102,648,570,299 -
1977 $81,912,018,784 -
1976 $88,875,923,765 -
1975 $88,000,000,000 -
1974 $72,000,000,000 -
1973 $55,280,000,000 -
1972 $45,200,000,000 -
1971 $39,200,000,000 -
1970 $35,520,000,000 -
1969 $32,480,000,000 -
1968 $29,360,000,000 -
1967 $26,560,000,000 -
1966 $24,320,000,000 -
1965 $21,840,000,000 -
1964 $20,080,000,000 -
1963 $16,960,000,000 -
1962 $15,200,000,000 -
1961 $14,160,000,000 -
1960 $13,040,000,000 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Mexico vs San Marino by year

Mexico
GDP per capita

GDP per capita, PPP
San Marino
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mexico San Marino
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $14,186 $26,185 - -
2023 $13,861 $25,243 $59,880 $78,745
2022 $11,406 $23,135 $54,191 $75,941
2021 $10,314 $20,783 $54,176 $64,745
2020 $8,841 $19,354 $44,327 $55,207
2019 $10,370 $20,964 $46,630 $57,444
2018 $10,085 $20,921 $47,951 $54,461
2017 $9,649 $20,489 $45,192 $52,463
2016 $9,098 $20,105 $44,359 $53,033
2015 $10,021 $19,071 $43,147 $52,247
2014 $11,391 $18,821 $51,260 $52,909
2013 $11,217 $18,170 $50,808 $50,770
2012 $10,744 $18,005 $47,946 $51,274
2011 $10,664 $17,267 $55,601 $56,240
2010 $9,729 $15,909 $56,543 $58,926
2009 $8,424 $15,191 $62,429 $61,970
2008 $10,524 $15,681 $75,902 $71,724
2007 $10,134 $15,032 $70,124 $71,744
2006 $9,513 $14,540 $63,271 $67,434
2005 $8,672 $13,260 $59,878 $63,739
2004 $7,850 $12,658 $58,232 $61,114
2003 $7,434 $12,066 $52,530 $60,224
2002 $7,983 $11,762 $41,791 $57,584
2001 $7,953 $11,739 $39,035 $57,252
2000 $7,524 $11,705 $37,601 $53,713
1999 $6,500 $11,031 $41,932 $52,064
1998 $5,833 $10,756 $40,127 $47,679
1997 $5,567 $10,182 $37,853 $44,426
1996 $4,674 $9,496 - -
1995 $4,184 $8,933 - -
1994 $6,202 $9,466 - -
1993 $6,048 $9,041 - -
1992 $4,221 $9,470 - -
1991 $3,709 $9,079 - -
1990 $3,154 $8,578 - -
1989 $2,725 - - -
1988 $2,279 - - -
1987 $1,888 - - -
1986 $1,757 - - -
1985 $2,602 - - -
1984 $2,506 - - -
1983 $2,170 - - -
1982 $2,621 - - -
1981 $3,829 - - -
1980 $3,055 - - -
1979 $2,049 - - -
1978 $1,604 - - -
1977 $1,315 - - -
1976 $1,465 - - -
1975 $1,492 - - -
1974 $1,256 - - -
1973 $993 - - -
1972 $837 - - -
1971 $748 - - -
1970 $699 - - -
1969 $660 - - -
1968 $616 - - -
1967 $576 - - -
1966 $545 - - -
1965 $506 - - -
1964 $481 - - -
1963 $420 - - -
1962 $388 - - -
1961 $374 - - -
1960 $355 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Mexico's GDP per capita is $14,186, ranking 69/197, compared to $59,880 in San Marino, ranking 15/197. Adjusted for purchasing power (GDP per capita PPP), Mexico ranks 80th at $26,185, while San Marino ranks 17th at $78,745.

Economic indicators

Mexico San Marino
Gross domestic product
$1.86T
2024
$2.03B
2023
GDP rank
13/197
2024
180/197
2023
GDP growth
1.43%
2023-2024
0.4%
2022-2023
GDP per capita
$14,186
2024
$59,880
2023
GDP per capita rank
69/197
2024
15/197
2023
GDP per capita, PPP
$26,185
2024
$78,745
2023
GDP per capita PPP rank
80/197
2024
17/197
2023
Government debt
$1.08T
2024
$1.39B
2023
Debt-to-GDP ratio
58.3%
2024
63.9%
2024
Government debt per person
$8,272
2024
$40,919
2023
Government debt per person rank
63/185
2024
13/185
2023
Average annual personal income after taxes
$10,231
2026
$45,474
2026
Market capitalization of domestic companies
$418B
2024
n/a
Number of millionaires
399,000
2025
n/a
Number of billionaires
22
2025
n/a
Income share by richest 10%
34.4%
2022
n/a
Income share by poorest 10%
2.1%
2022
n/a
Government expenditure, % of GDP
30.3%
2024
21%
2024
Consumer prices inflation
4.72%
2023-2024
1.2%
2023-2024
Central bank interest rate
7%
2025
n/a
Unemployment rate
2.62%
2024
4.91%
2022
Population
133323134
33967

Spending and national debt comparison by year

Mexico
Spending

Debt
San Marino
Spending

Debt
1x
Year % of GDP
Mexico San Marino
Government spending Government debt Government spending Government debt
2024 30.3% 58.3% 21% 63.9%
2023 28.5% 52.6% 21.7% 68.3%
2022 28.5% 53.8% 21.7% 70.6%
2021 26.7% 56.7% 37.1% 77.2%
2020 27.8% 58.5% 59.2% 69.8%
2019 25.3% 51.9% 22.4% 56.2%
2018 25% 52.2% 24.5% 56.7%
2017 25% 52.5% 25.6% 56.6%
2016 26.5% 55% 23.4% 21.4%
2015 26.6% 51% 26.3% 19.3%
2014 26.9% 47.1% 23.7% 21%
2013 26.7% 44.1% 30.2% 23.2%
2012 27% 40.8% 30.6% 17.2%
2011 26.6% 41.2% 25.4% 16.6%
2010 26.5% 40.2% 24.4% 20%
2009 26.5% 41.7% 24.8% 20.1%
2008 26.5% 40.6% 22% 15.5%
2007 22.5% 35.5% 20.7% 12.6%
2006 21.6% 35.8% 19.7% 14.2%
2005 21.2% 36.8% 19.3% 14.5%
2004 20.5% 38.9% 19% 16.9%
2003 21.5% 42.1% - 16.1%
2002 19.8% 39.9% - 17.2%
2001 19.5% 37.3% - 11.6%
2000 19.4% 38.5% - -
1999 20.1% 41.7% - -
1998 19.5% 39.7% - -
1997 20.7% 39.1% - -
1996 20.8% 42.5% - -
1995 18.9% 30.7% - -
1994 18.9% 26.8% - -
1993 18.2% 19.2% - -
1992 19% 21.5% - -
1991 20.1% 29.2% - -
1990 22.9% 35.7% - -
1989 19.2% 36% - -
1988 23.6% 36.5% - -
1987 26.7% 52.7% - -
1986 25.1% 47.8% - -
1985 21.4% 30.4% - -
1984 19.8% 25.2% - -
1983 21.6% 25.3% - -
1982 24.7% 29.8% - -
1981 20.1% 41.7% - -
1980 17.5% 31.4% - -
1979 16.5% 35.8% - -
1978 15.7% 39% - -
1977 15.5% 41.5% - -
1976 15.5% 31.3% - -
1975 14.7% 24.4% - -
1974 13.8% 21.7% - -
1973 12.7% 20% - -
1972 11.9% 17.9% - -
1971 10.6% 17% - -
1970 10.9% 17.1% - -
1969 11.8% 10.7% - -
1968 10.9% 7.85% - -
1967 10.4% 8.22% - -
1966 11.6% 5.14% - -
1965 10.7% 9.99% - -
1964 9.21% 6.22% - -
1963 8.51% 4.13% - -
1962 8.26% 4.2% - -
1961 8.01% 4.38% - -
1960 9.5% 4.58% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-02-20).

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

In 2024, Mexico's government spending was $563B, accounting for 30.3% of its GDP, while San Marino spent $440M, or 21% of GDP.

Debt-to-GDP ratio is 58.3% in Mexico and 63.9% in San Marino, ranking 84/185 and 71/185, respectively.

Government deficit by year

Deficit/surplus
Mexico

San Marino
1x
Year Deficit/surplus, % of GDP
Mexico San Marino
2024 -5.73% -0.53%
2023 -4.29% -0.72%
2022 -4.32% 0.42%
2021 -3.75% -16.4%
2020 -4.29% -37.6%
2019 -2.27% -0.11%
2018 -2.14% -1.56%
2017 -1.03% -3.49%
2016 -2.68% -0.19%
2015 -3.86% -3.32%
2014 -4.37% 1.06%
2013 -3.56% -7.74%
2012 -3.57% -7.08%
2011 -3.2% -4.05%
2010 -3.8% -2.24%
2009 -3.94% -2.46%
2008 -0.68% 0.18%
2007 -1.46% 1.83%
2006 -1.23% 1.51%
2005 -1.43% 3.58%
2004 -1.35% 2.44%
2003 -2.24% -
2002 -2.18% -
2001 -2.57% -
2000 -2.69% -
1999 -4.49% -
1998 -4.49% -
1997 -3.48% -
1996 -3.66% -
1995 -2.28% -
1994 -2.25% -
1993 -1.51% -
1992 2.26% -
1991 1.49% -
1990 -3.11% -
1989 -4.75% -
1988 -8.76% -
1987 -11.6% -
1986 -11.2% -
1985 -7.2% -
1984 -5.79% -
1983 -6.03% -
1982 -11.4% -
1981 -4.9% -
1980 -1.75% -
1979 -2.15% -
1978 -1.88% -
1977 -2.43% -
1976 -3.14% -
1975 -2.64% -
1974 -3.33% -
1973 -2.75% -
1972 -2.3% -
1971 -1.43% -
1970 -1.71% -
1969 -2.74% -
1968 -2.06% -
1967 -2.12% -
1966 -3.2% -
1965 -2.51% -
1964 -1.44% -
1963 -0.92% -
1962 -0.79% -
1961 -0.88% -
1960 -1.36% -
1959 -0.73% -
1958 0.24% -
1957 -0.03% -
1956 0.52% -
1955 0.6% -
1954 -0.94% -
1953 -0.58% -
1952 0.42% -
1951 -0.26% -
1950 -0.2% -
1949 0.44% -
1948 -1.55% -
1947 -0.93% -
1946 0.66% -
1945 -1.11% -
1944 -1.12% -
1943 0.05% -
1942 -0.93% -
1941 -0.26% -
1940 -0.4% -
1939 -0.06% -
1938 -0.91% -
1937 -0.41% -
1936 -0.39% -
1935 0.26% -
1934 0.72% -
1933 -0.58% -
1932 0% -
1931 0.71% -
1930 0.21% -
1929 0.95% -
1928 0.24% -
1927 -0.3% -
1926 -0.29% -
1925 0.46% -
1924 1.34% -
1923 1.02% -
1922 1.13% -
1921 0.64% -
1920 0.91% -
1919 0.41% -
1918 -0.19% -
1917 0.63% -
1916 - -
1915 - -
1914 - -
1913 0.28% -
1912 -0.79% -
1911 -0.31% -
1910 0.1% -
1909 0.15% -
1908 -0.08% -
1907 0.43% -
1906 0.72% -
1905 0.35% -
1904 1.09% -
1903 3.82% -
1902 0.42% -
1901 0.62% -
1900 0.76% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1900–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2023, Mexico's government deficit, the difference between spending and revenue, was $77.1B, equivalent to 4.29% of GDP. This compares to San Marino's deficit of $14.7M, or 0.72% of GDP.

Over the past 20 years, Mexico recorded a fiscal deficit in 20 of those years, while San Marino ran a deficit in 13 years. On average, Mexico posted an annual deficit equal to 2.86% of GDP, compared to deficit of 3.8% of GDP for San Marino.

Inflation comparison by year

Inflation
Mexico

San Marino
1x
Year Consumer prices inflation
Mexico San Marino
2024 4.72% 1.2%
2023 5.53% 5.9%
2022 7.9% 5.3%
2021 5.69% 1.6%
2020 3.4% -0.1%
2019 3.64% 0.5%
2018 4.9% 1.2%
2017 6.04% 1%
2016 2.82% 0.6%
2015 2.72% 0.1%
2014 4.02% 1.1%
2013 3.81% 1.6%
2012 4.11% 2.8%
2011 3.41% 2.2%
2010 4.16% 2.4%
2009 5.3% 2.4%
2008 5.12% 4.1%
2007 3.97% 2.5%
2006 3.63% 2.1%
2005 3.99% 1.7%
2004 4.69% 1.4%
2003 4.55% 1.3%
2002 5.03% -
2001 6.37% -
2000 9.49% -
1999 16.6% -
1998 15.9% -
1997 20.6% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (2003–2024, retrieved 2026-02-20).

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

Over the past 22 years, Mexico has recorded an average annual inflation rate of 4.46%, compared with 1.95% in San Marino. In 2024, inflation was 4.72% in Mexico and 1.2% in San Marino.

Balance of trade

Mexico San Marino
Current account balance
-$16.7B
2024
$446M
2023
Current account balance ranking
181/190
2024
64/190
2023
Current account balance, % of GDP
-0.9%
2024
+22%
2023
Goods imports
$637B
2024
$2.25B
2023
Goods exports
$618B
2024
$2.53B
2023
Service imports
$72B
2024
$894M
2023
Service exports
$63B
2024
$1.25B
2023
Imports of goods and services, % of GDP
37.9%
2024
155%
2023
Exports of goods and services, % of GDP
36.7%
2024
186%
2023

Economic freedom indices

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

Mexico San Marino
Economic freedom 59.8 76
Economic freedom ranking 102/197 16/197
Property rights 37.6 n/a
Government integrity 28.8 n/a
Judicial effectiveness 40.4 n/a
Tax burden 75.4 n/a
Government spending 74.6 n/a
Fiscal health 56.7 n/a
Business freedom 67 n/a
Labor freedom 57.3 n/a
Monetary freedom 70.6 n/a
Trade freedom 74.2 n/a
Investment freedom 75 n/a
Financial freedom 60 n/a

Other economic metrics

Mexico San Marino
Services, % of GDP
58.1%
2024
56.9%
2023
Industry, % of GDP
31.8%
2024
35.8%
2023
Agriculture, forestry, and fishing, % of GDP
3.72%
2024
0.02%
2023
GNI, Atlas method
$1.68T
2024
$1.82B
2023
GNI per capita, PPP
$25,460
2024
$71,860
2023
Total reserves including gold
$232B
2024
$759M
2024
Total reserves ranking
16/177
2024
146/177
2024
Net foreign direct investment
-$32.3B
2024
$52.7M
2023
Net inflows of foreign direct investment
$45.5B
2024
-$18.1M
2023
Net outflows of foreign direct investment
$13B
2024
$0
2024
Servicing debt to the IMF, % of GNI
3.71%
2024
n/a
Poverty at national poverty lines
29.6%
2024
n/a
Gross capital formation, % of GDP
24.1%
2024
16.6%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1900–1995, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.