| People | Andorra |
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Economy - overview:
|
Tourism, the mainstay of Andorra's tiny, well-to-do economy, accounts for more than 80% of GDP. An estimated 11.6 million tourists visit annually, attracted by Andorra's duty-free status and by its summer and winter resorts. Andorra's comparative advantage has recently eroded as the economies of neighboring France and Spain have been opened up, 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):
|
$2.77 billion (2005) |
GDP (official exchange rate):
|
$NA |
GDP - real growth rate:
|
3.5% (2005 est.) |
GDP - per capita (PPP):
|
$38,800 (2005) |
GDP - composition by sector:
|
agriculture: NA%
industry: NA%
services: NA% |
Investment (gross fixed):
|
void |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
3.2% (2005) |
Labor force:
|
42,420 (2005) |
Labor force participation rate:
|
58.58 % of population |
Labor force - by occupation:
|
agriculture: 0.3%
industry: 20.3%
services: 79.4% (2005) |
Unemployment rate:
|
0% (1996 est.) |
Budget:
|
revenues: $333.5 million
expenditures: $386.6 million (2005) |
Budget revenues per capita:
|
4,606 USD per capita |
Public debt:
|
void |
Industries:
|
tourism (particularly skiing), cattle raising, timber, banking, tobacco, furniture |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
NA kWh |
Electricity - production per capita:
|
void |
Electricity - consumption:
|
NA kWh |
Electricity - consumption - per capita:
|
void |
Electricity - exports:
|
NA kWh |
Electricity - imports:
|
NA kWh; note - most electricity supplied by Spain and France; Andorra generates a small amount of hydropower |
Oil - production:
|
void |
Oil - production per capita:
|
void |
Oil - consumption:
|
void |
Oil - consumption - per capita:
|
void |
Oil - exports:
|
void |
Oil - imports:
|
void |
Oil - proved reserves:
|
void |
Natural gas - production:
|
void |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
void |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
void |
Natural gas - imports:
|
void |
Natural gas - proved reserves:
|
void |
Agriculture - products:
|
small quantities of rye, wheat, barley, oats, vegetables; sheep |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$148.7 million f.o.b. (2005) |
Exports per capita:
|
2,054 USD per capita |
Exports - commodities:
|
tobacco products, furniture |
Exports - partners:
|
Spain 59.5%, France 17.0% (2006) |
Imports:
|
$1.879 billion (2005) |
Imports per capita:
|
25,949 USD per capita |
Imports - commodities:
|
consumer goods, food, electricity |
Imports - partners:
|
Spain 53.2%, France 21.1% (2006) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$NA |
Debt - external - per capita:
|
void |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$0 |
Economic aid - recipient per capita:
|
void |
Currency (code):
|
euro (EUR) |
Exchange rates:
|
euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003) |
Fiscal year:
|
calendar year |
|
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