e: [34] (93) 280-2227; FAX: [34] (93)
280-6175

Flag description:

three equal vertical bands of blue (hoist side), yellow, and red
with the national coat of arms centered in the yellow band; the coat
of arms features a quartered shield
note: similar to the flags of Chad and Romania, which do not have a
national coat of arms in the center, and the flag of Moldova, which
does bear a national emblem

Economy
Andorra

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%

Labor force:

42,420 (2005)

Labor force - by occupation:

agriculture: 0.3%
industry: 20.3%
services: 79.4% (2005)

Unemployment rate:

0% (1996 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
highest 10%: NA%

Budget:

revenues: $333.5 million
expenditures: $386.6 million (2005)

Fiscal year:

calendar year

Inflation rate (consumer prices):

3.2% (2005)

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 - expo