Economy of Andorra
An overview of key economic indicators. Select a category for detailed trends, charts, and insights.
Explore Economic Domains
Growth & Output
Trade & Finance
Labor & Income
Energy & Environment
Economic Snapshot Overview
A summary of key economic indicators for Andorra
- The economic architecture of Andorra is substantial, anchored by a Gross Domestic Product (GDP) of approximately $3.79B2023. This places it as the 160th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $46.81K2023, while its GDP in Purchasing Power Parity (PPP) terms is estimated at $5.8B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 2.6%2023,
- On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. Additionally, personal remittances received amount to a substantial $48M annually2023, highlighting the economic importance of its diaspora.
- The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $50,1502022. Globally, this ranks the nation 21st out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others.
- On the environment and energy front, There is a growing focus on sustainability, with renewable energy accounting for 18.7% of consumption2022. Its commitment to clean energy places it 79th among 190 countries for its share of renewable energy consumption.
Key Economic Insights
Macroeconomic Health
Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.
Trade & Investment Profile
The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.
Social Equity & Distribution
Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.
Energy & Sustainability
Transitioning to a sustainable energy model is critical for mitigating climate risk and ensuring long-term energy security.
Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.