- overview:
Tourism, the mainstay of Andorra's tiny, well-to-do economy, accounts for more than 80% of GDP. An estimated 11 million tourists visit annually, attracted by Andorra's duty-free status for some products and by its summer and winter resorts. Andorra's comparative advantage eroded when the borders of neighboring France and Spain opened, providing broader availability of goods and lower tariffs. The banking sector, with its partial "tax haven" status, also contributes substantially to the economy. Agricultural production is limited - only 2% of the land is arable - and most food has to be imported. The principal livestock activity is sheep raising. Manufacturing output consists mainly of cigarettes, cigars, and furniture. Andorra is a member of the EU Customs Union and is treated as an EU member for trade in manufactured goods (no tariffs) and as a non-EU member for agricultural products.
GDP (purchasing power parity):
$4.22 billion (2008) country comparison to the world: 166 $3.66 billion (2007)
$3.588 billion (2006)
GDP (official exchange rate):
$NA
GDP - real growth rate:
2.6% (2008 est.) country comparison to the world: 136 2% (2007 est.)
3.5% (2005 est.)
GDP - per capita (PPP):
$44,900 (2008) country comparison to the world: 12 $42,500 (2007)
$38,800 (2005)
GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%
Labor force:
42,220 (2008) country comparison to the world: 193
Labor force - by occupation:
agriculture: 0.5%
industry: 18.5%
services: 81% (2008)
Unemployment rate:
7% (2008) country comparison to the world: 69 0% (2007)
Population below poverty line:
8% (2008)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
2.3% (2008) country comparison to the world: 67 3.9% (2007)
Agriculture - products:
small quantities of rye, wheat, barley, oats, vegetables; sheep
Industries:
tourism (particularly skiing), cattle raising, timber, banking, tobacco, furniture
Industrial production growth rate:
NA%
Electricity - production:
NA kWh
Electricity - consumption:
NA kWh
Electricity - exports:
NA kWh
Electricity - imports:
NA kWh; note - most electricity supplied by Spain and France;
Andorra generates a small amount of hydropower
Exports:
$89.5 million (2008) country comparison to the world: 195 $117.1 million (2007)
Exports - commodities:
tobacco products, furniture
Imports:
$1.801 billion (2008) country comparison to the world: 154 $1.789 billion (2007)
Imports - commodities:
consumer goods, food, electricity
Debt - external:
$NA
Exchange rates:
euros (EUR) per US dollar - 0.7715 (2010), 0.7179 (2009), 0.6827 (2008), 0.7306 (2007), 0.7964 (2006)
Communications ::Andorra
Telephones - main lines in use:
37,900 (2009) country comparison to the world: 171
Telephones - mobile cellular:
64,500 (2009) country comparison to the world: 191
Telephone system:
general assessment: NA
domestic: modern system with microwave radio relay connections between exchanges
international: country code - 376; landline circuits to France and Spain
Broadcast media:
1 public television station and 2 public radio stations; a few commercial radio stations operating; good reception of radio and TV broadcasts from stations in France and Spain (2008)
Internet country code:
.ad
Internet hosts:
26,773 (2010) country comparison to the world: 100
Internet users:
67,100 (2009) country comparison to the world: 170
Transportation ::Andorra
Roadways:
total: 320 km (2008) country comparison to the world: 201
Military ::Andorra
Military branches:
no regular military forces, Police Service of Andorra (2010)
Manpower available for military service:
males age 16–49: 22,776 (2010 est.)
Manpower
