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Andorra Economy 2009
https://geographic.org/wfb2009/andorra/andorra_economy.html
SOURCE: 2009 CIA WORLD FACTBOOK

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Andorra Economy 2009
SOURCE: 2009 CIA WORLD FACTBOOK


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):
$3.66 billion (2007)
$3.588 billion (2006)
$2.77 billion (2005)

GDP (official exchange rate):
$NA

GDP - real growth rate:
2% (2007 est.)
3.5% (2005 est.)

GDP - per capita (PPP):
$42,500 (2007)
$38,800 (2005)

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Labor force:
42,230 (2007)

Labor force - by occupation:
agriculture: 0.3%
industry: 20.8%
services: 79% (2007)

Unemployment rate:
0% (2007)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Budget:
revenues: $496.9 million
expenditures: $496.8 million (2007)

Inflation rate (consumer prices):
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:
$117.1 million f.o.b. (2007)

Exports - commodities:
tobacco products, furniture

Imports:
$1.789 billion (2007)

Imports - commodities:
consumer goods, food, electricity

Debt - external:
$NA

Exchange rates:
euros (EUR) per US dollar - 0.6827 (2008 est.), 0.7306 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004)


NOTE: The information regarding Andorra on this page is re-published from the 2009 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Andorra Economy 2009 information contained here. All suggestions for corrections of any errors about Andorra Economy 2009 should be addressed to the CIA.






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