国际货币基金组织：2025年圣马力诺共和国：若干问题报告（英文版）

This paper evaluates the state of economic and export diversification in San Marino, a highincome small state with a manufacturing-heavy economy. Using sectoral Gross Value Added (GVA) data and export diversification metrics—Herfindahl-Hirschman Index (HHI), Entropy Index (EI), and Export Concentration Ratio (CR)—derived from mirror trade data, the study benchmarks San Marino against peer economies. While San Marino’s economy seems concentrated in manufacturing and wholesale trade at the aggr