gs 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 roughly 80% of GDP. An estimated 9 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 "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):
$1.9 billion (2003 est.)

GDP - real growth rate:
2% (2003 est.)

GDP - per capita:
purchasing power parity - $26,800 (2003 est.)

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

Labor force:
33,000 (2001 est.)

Labor force - by occupation:
agriculture 1%, industry 21%, services 78% (2000 est.)

Unemployment rate:
0% (1996 est.)

Population below poverty line:
NA%

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

Inflation rate (consumer prices):
4.3% (2000)

Budget:
revenues: $385 million
expenditures: $342 million, including capital expenditures of NA
(1997)

Agriculture - products:
small quantities of rye, wheat, barley, oats, vegetables; sheep

Industries:
tourism (particularly skiing), cattle raising, timber, banking

Industrial production growth rate:
NA%

Electricity - production:
NA kWh

Electricity - production by source:
NA

Electricity - consumption:
NA kWh

Electricity - exports:
0 kWh (2002)

Electricity - imports:
NA kWh; note - most electricity supplied by Spain and France;
Andorra generates a small amount of hydropower

Exports:
$58 million f.o.b. (1998)

Exports - commodities:
tobacco products, furniture

Exports -