e center

@Andorra, Economy

Overview:
Tourism, the mainstay of Andorra's economy, accounts for roughly 80%
of GDP. An estimated 13 million tourists visit annually, attracted by
Andorra's duty-free status and by its summer and winter resorts. The
banking sector, with its "tax haven" status, also contributes
substantially to the economy. Agricultural production is limited by a
scarcity of arable land, and most food has to be imported. The
principal livestock activity is sheep raising. Manufacturing consists
mainly of cigarettes, cigars, and furniture. Andorra is a member of
the EU Customs Union; it is unclear what effect the European Single
Market will have on the advantages Andorra obtains from its duty-free
status.
National product:
GDP - purchasing power equivalent - $760 million (1992 est.)
National product real growth rate:
NA%
National product per capita:
$14,000 (1992 est.)
Inflation rate (consumer prices):
NA%
Unemployment rate:
0%
Budget:
revenues:
$138 million
expenditures:
$177 million, Including capital expenditures of $NA (1993)
Exports:
$30 million (f.o.b., 1993 est.)
commodities:
electricity, tobacco products, furniture
partners:
France, Spain
Imports:
$NA
commodities:
consumer goods, food
partners:
France, Spain
External debt:
$NA
Industrial production:
growth rate NA%
Electricity:
capacity:
35,000 kW
production:
140 million kWh
consumption per capita:
2,570 kWh (1992)
Industries:
tourism (particularly skiing), sheep, timber, tobacco, banking
Agriculture:
sheep raising; small quantities of tobacco, rye, wheat, barley, oats,
and some vegetables
Economic aid:
none
Currency:
1 French franc (F) = 100 centimes; 1 peseta (Pta) = 100 centimos; the
French and Spanish currencies are used
Exchange rates:
French francs (F) per US$1 - 5.9205 (January 1994), 5.6632 (1993),
5.2938 (1992), 5.6421 (1991), 5.4453 (1990), 6.3801 (1989); Spanish
pesetas (Ptas) per US$1 - 143.04 (January 1994), 127.26 (1993), 102.38
(1992), 103.91 (1991), 101.93 (1990), 118.38 (1989)
Fiscal year:
calendar year

@Andorra, Communications

Highways:
total:
96 km
paved:
NA
unpaved:
NA
Telecommunications:
international digital microwave network; international landline
circuits to France and Spain; broadcast stations - 1 AM, no FM, no TV;
17,700 telephones

@Andorra, Defense Forces

Note:
defense is the