Global economy: Andorra 2016
| PRINCIPAL FIGURES | 2012 | 2013 | 2014 |
| Estimated population * | 69.758 | 69.966 | 70.570 |
| Nominal GDP (€ million) | 2.463,0 | 2.471,7 | 2.525,5 |
| Nominal GDP per capita (€) | 35.308 | 35.327 | 35.786 |
| Country rating (sovereign debt) Standard & Poor’s | A-/A-2 | A-/A-2 | BBB+/A-2 |
| Andorran Government budget (€ million) | 745,2 | 1.062,4 | 573,7 |
| Aggregate Communes budget (€ million) | 119,7 | 131,6 | 133,2 |
| CPI | 1,6% | 2,5% | 1,1% |
| Household consumption (€ million) | 1.448,5 | n.d. | n.d. |
| Employed | 35.777 | 35.039 | 35.331 |
| Minimum salary | 951,6 | 962,0 | 962,0 |
| Average salary | 2.010,1 | 1.998,6 | 2.053,3 |
| Compensation of employees (€ million) | 863,0 | 840,3 | 870,6 |
| Imports of goods (€ million) | 1.102,7 | 1.128,0 | 1.175,0 |
| Exports of goods (€ million) | 82,4 | 74,5 | 73,7 |
| Establishments (companies & trade) | 7.178 | 7.385 | 7.668 |
| Hotel establishments | 258 | 253 | 249 |
| Number of beds in hotel business | 34.271 | 34.062 | 34.019 |
| Visitors (million) | 7,9 | 7,7 | 7,8 |
GDP and GVA
| GDP (estimated gross domestic product) GVA by SECTORS (EUR million) | 2014 | % GVA |
| GVA Agriculture, Forestry and Fishing | 12.5 | 0.5% |
| GVA Industries (except Construction) | 37.5 | 1.5% |
| GVA Manufacturing | 80,2 | 5.2% |
| GVA Construction | 132.5 | 7.6% |
| GVA Wholesale and retail trade. Repair of motor vehicles | 359.4 | 14.2% |
| GVA Transport and Storage | 175.9 | 1.5% |
| GVA Accomodation and Food Services | 37.3 | 7.0% |
| GVA Information and communication | 95.8 | 3.8% |
| GVA Financial and insurance activities | 527.1 | 20.9% |
| GVA Real estate activities | 223.1 | 8.8% |
| GVA Professional, scientific and technical activities; administrative and support service activi | 144.1 | 5.7% |
| GVA Public administration, defence, education, human health and social work activities | 315.2 | 12.5% |
| GVA Other Activities | 130.7 | 5.2% |
| Total GVA | 2.271.4 | 89.9% |
| Net taxes | 254.0 | 12,1% |
| Nominal GDP | 2.525.5 | 100,0% |
The GDP of the Principality for 2014 was placed at 2,525.5 million euro; +2.2% more than the GDP recorded at the end of 2013 (2,471.7 million euro). This increase in GDP is principally due to rise in the sectors of “Financial and insurance activities” (+10.0%), “Industries (except Construction)” (+8.20%) and “Information and communication” (+4.5%). In exchange, the sectors that presents a contraction were the sectors of “Agriculture, Forestry and Fishing” (-12.2%), “Construction” (-4.8%), “Accomodation and Food Services” (-1.7%) and “Wholesale and retail trade. Repair of motor vehicles” (-1.6%).
CPI (consumer price index)
| CPI – GROUPS OF ACTIVITY | Weightings 2014 | Annual variations |
| Food, beverages & tobacco | 1.722 | 2,0% |
| Clothing & footwear | 459 | 1,0% |
| Housing, water, gas, electricity | 2.458 | -1,7% |
| Furniture and domestic items | 522 | 0,8% |
| Health | 289 | 0,5% |
| Transport | 2.106 | -1,2% |
| Leisure, entertainment & culture | 608 | 0,2% |
| Education | 86 | 1,5% |
| Hotels, cafes & restaurants | 690 | 0,7% |
| Sundry goods and services | 1.030 | -0,1% |
| General index | 10.000 | -0,1% |
| Underlying inflation | 8.179 | 0,4% |
| Oil products | 641 | -6,9% |
| Services | 2.908 | 0,6% |
Establishments by sectors
| ESTABLISHMENTS BY SECTION | 2013 | 2014 | % var.2013 – 2014 |
| Agriculture, livestock, hunting & forestry | 39 | 40 | 2,6% |
| Manufacturing industries | 341 | 352 | 3,2% |
| Production & distribution of electricity, gas & water | 5 | 5 | 0,0% |
| Construction | 789 | 795 | 0,8% |
| Motor vehicles trade & repair | 2.573 | 2.654 | 3,1% |
| Tourist accommodation & restaurants | 982 | 984 | 0,2% |
| Transport, storage & communications | 402 | 403 | 0,2% |
| Financial system | 159 | 163 | 2,5% |
| Real estate and rental activities; business services | 1.376 | 1.512 | 9,9% |
| Education | 76 | 83 | 9,2% |
| Health & veterinary activities, social services Other social activities & communityservices | 161
482 |
173
504 |
7,5%
4,6% |
| TOTAL | 7.385 | 7.668 | 3,8% |
Imports
| IMPORTS, Principal countries of origin (euro) | 2011 | 2012 | % | |
| Spain | 697.403.204 | 666.101.444 | -4,5% | |
| France | 200.138.448 | 189.864.150 | -5,1% | |
| Germany | 49.804.113 | 39.309.709 | -21,1% | |
| China | 48.749.318 | 40.789.666 | -16,3% | |
| Italy | 28.413.297 | 25.384.042 | -10,7% | |
| United Kingdom | 16.394.390 | 18.150.807 | 10,7% | |
| Netherlands | 9.705.456 | 10.942.425 | 12,7% | |
| Switzerland | 13.741.873 | 15.435.604 | 12,3% | |
| Portugal | 10.456.418 | 12.377.775 | 18,4% | |
| Japan | 8.653.369 | 7.264.402 | -16,1% | |
| Others | 65.475.760 | 60.001.140 | -8,4% | |
| TOTALSource: Ministry of Finance and Public Function; Customs Department | 1.148.935.648 | 1.085.621.164 | –5,5% |
Government budget
| GOVERNMENT BUDGET | 2005 | 2010 | 2011 | 2012 |
| Result for the year | -40,8 | -52,9 | -50,9 | -86,9 |
| Deviation in expenses | 96,3% | 101,5% | 99,8% | 115,9% |
| Deviation in income | 98,0% | 85,0% | 86,1% | 110,2% |
| Expenses (million EUR) | ||||
| Current expenses | 175,6 | 233,6 | 271,6 | 274,4 |
| Investment expenses | 121,0 | 123,3 | 87,6 | 180,5 |
| Debt redemption & acquisition | 188,3 | 246,6 | 256,0 | 299,2 |
| Income (million EUR) | ||||
| Income from taxes & duties | 232,1 | 293,1 | 298,9 | 355,1 |
| Other income | 23,7 | 10,9 | 9,4 | 13,0 |
| Capital income | 260,2 | 338,3 | 320,8 | 377,2 |
Commune budgets
| COMMUNE BUDGETS* | 2005 | 2010 | 2011 | 2012 |
| Result for the year | 2,4 | 19,1 | 14,1 | 15,2 |
| Deviation in expenses | 66,9% | 74,5% | 80,3% | 83,0% |
| Deviation in income | 99,4% | 91,7% | 96,4% | 97,1% |
| Expenses (million EUR) | ||||
| Current expenses | 80,2 | 99,5 | 98,9 | 92,3 |
| Investment expenses | 43,3 | 15,1 | 13,9 | 8,7 |
| Debt redemption & acquisition | 19,7 | 14,7 | 12,3 | 12,8 |
| Income (million EUR) | ||||
| Income from taxes & duties | 58,2 | 69,9 | 64,9 | 58,5 |
| Other income | 67,7 | 63,9 | 61,9 | 57,7 |
| Capital income | 9,7 | 0,0 | 2,0 | 3,5 |
*Aggregated commune budgets: Canillo, Encamp, Ordino, La Massana, Andorra la Vella, Sant Julià de Lòria, Escaldes-Engordany
Employers per sectors
| Eemployers per sector NUMBER OF EMPLOYERS | 1995 | 2000 | 2005 | 2010 | 2012 |
| Agriculture, livestock, hunting & | 177 | 151 | 146 | 148 | 167 |
| Industries | 1.474 | 1.519 | 1.783 | 1.667 | 1.462 |
| Electricity, gas, water production | 108 | 126 | 149 | 158 | 164 |
| Construction | 4.024 | 5.108 | 6.723 | 4.491 | 3.258 |
| Vehicles sales and repairs | 8.149 | 9.618 | 11.142 | 9.732 | 9.042 |
| Tourist accommodation & resta | 3.894 | 4.796 | 5.635 | 4.862 | 4.667 |
| Transport & communications | 785 | 1.007 | 1.228 | 1.154 | 1.084 |
| Financial system | 1.168 | 1.351 | 1.515 | 1.661 | 1.711 |
| Real estate & business services | 1.580 | 2.602 | 3.885 | 4.078 | 3.931 |
| Public Administration & social s | 2.290 | 3.034 | 3.821 | 4.355 | 4.337 |
| Education | 305 | 424 | 536 | 563 | 546 |
| Health & veterinary activities, so | 841 | 1.030 | 1.349 | 1.669 | 1.692 |
| Other social activities & persona | 1.412 | 1.991 | 2.335 | 2.398 | 2.406 |
| Others | 1.099 | 1.311 | 1.482 | 1.614 | 1.566 |
| TOTAL | 27.305 | 34.066 | 41.727 | 38.550 | 36.033 |
Minimal salary
| per month (euro) % annual | CPI | ||
| 1998 | 654,2 | — | 2,1% |
| 1999 | 667,8 | 2,1% | 3,3% |
| 2000 | 689,6 | 3,3% | 5,1% |
| 2001 | 725,1 | 5,1% | 1,3% |
| 2002 | 734,4 | 1,3% | 5,0% |
| 2003 | 771,3 | 5,0% | 1,6% |
| 2004 | 783,5 | 1,6% | 3,8% |
| 2005 | 812,9 | 3,8% | 3,1% |
| 2006 | 838,1 | 3,1% | 3,2% |
| 2007 | 864,9 | 3,2% | 3,8% |
| 2008 | 897,9 | 3,8% | 1,9% |
| 2009 | 915,2 | 1,9% | 0,0% |
| 2010 | 915,2 | 0,0% | 1,6% |
| 2011 | 929,1 | 1,5% | 2,5% |
| 2012 | 951,6 | 2,4% | 1,1% |
Employment service
| Applicants looking for jobs | 510 | 639 | 950 |
| Applicants looking for job improvement | 152 | 163 | 188 |
| People receiving unemployment benefit | 34 | 74 | 125 |
| Jobs offered | 272 | 167 | 214 |
Total visitors
The number of visitors in 2012 was 7,900,440, -1.0% compared to 2011. By type, tourists were 2,237,939, -0.2%, Same-day visitors were 5,662,501, -1.4%.
Tourist accomm0dation
In the tourism sector, the different types of accommodation play a fundamental role. The Principality of Andorra has 249 tourist accommodation establishments in various categories, with an availability of 34,271 beds. This offer is supplemented by a new type of accommodation called “Furnished Apartments”, which offers 1,174 apartments with a total of 5,868 beds.
Source: Government of Andorra. Department of statistics of Andorra
