Global economy: Andorra 2016

global economy

Global economy: Andorra 2016

PRINCIPAL FIGURES201220132014
Estimated population *69.75869.96670.570
Nominal GDP (€ million)2.463,02.471,72.525,5
Nominal GDP per capita (€)35.30835.32735.786
Country rating (sovereign debt) Standard & Poor’sA-/A-2A-/A-2BBB+/A-2
Andorran Government budget (€ million)745,21.062,4573,7
Aggregate Communes budget (€ million)119,7131,6133,2
CPI1,6%2,5%1,1%
Household consumption (€ million)1.448,5n.d.n.d.
Employed35.77735.03935.331
Minimum salary951,6962,0962,0
Average salary2.010,11.998,62.053,3
Compensation of employees (€ million)863,0840,3870,6
Imports of goods (€ million)1.102,71.128,01.175,0
Exports of goods (€ million)82,474,573,7
Establishments (companies & trade)7.1787.3857.668
Hotel establishments258253249
Number of beds in hotel business34.27134.06234.019
Visitors (million)7,97,77,8

GDP and GVA 

GDP (estimated gross domestic product) GVA by SECTORS (EUR million)2014% GVA
GVA Agriculture, Forestry and Fishing12.50.5%
GVA Industries (except Construction)37.51.5%
GVA Manufacturing80,25.2%
GVA Construction132.57.6%
GVA Wholesale and retail trade. Repair of motor vehicles359.414.2%
GVA Transport and Storage175.91.5%
GVA Accomodation and Food Services37.37.0%
GVA Information and communication95.83.8%
GVA Financial and insurance activities527.120.9%
GVA Real estate activities223.18.8%
GVA Professional, scientific and technical activities; administrative and support service activi144.15.7%
GVA Public administration, defence, education, human health and social work activities315.212.5%
GVA Other Activities130.75.2%
Total GVA2.271.489.9%
Net taxes254.012,1%
Nominal GDP2.525.5100,0%

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 ACTIVITYWeightings 2014Annual variations
Food, beverages & tobacco1.7222,0%
Clothing & footwear4591,0%
Housing, water, gas, electricity2.458-1,7%
Furniture and domestic items5220,8%
Health2890,5%
Transport2.106-1,2%
Leisure, entertainment & culture6080,2%
Education861,5%
Hotels, cafes & restaurants6900,7%
Sundry goods and services1.030-0,1%
General index10.000-0,1%
Underlying inflation8.1790,4%
Oil products641-6,9%
Services2.9080,6%

Establishments by sectors

ESTABLISHMENTS  BY SECTION20132014% var.2013  2014
Agriculture, livestock, hunting & forestry39402,6%
Manufacturing industries3413523,2%
Production & distribution of electricity, gas & water550,0%
Construction7897950,8%
Motor vehicles trade & repair2.5732.6543,1%
Tourist accommodation & restaurants9829840,2%
Transport, storage & communications4024030,2%
Financial system1591632,5%
Real estate and rental activities; business services1.3761.5129,9%
Education76839,2%
 Health & veterinary activities, social services                                                   Other social activities & communityservices161

482

173

504

7,5%

4,6%

TOTAL7.3857.6683,8%

 Imports

IMPORTS, Principal countries of origin (euro)20112012 %
Spain697.403.204666.101.444-4,5%
France200.138.448189.864.150-5,1%
Germany49.804.11339.309.709-21,1%
China48.749.31840.789.666-16,3%
Italy28.413.29725.384.042-10,7%
United Kingdom16.394.39018.150.80710,7%
Netherlands9.705.45610.942.42512,7%
Switzerland13.741.87315.435.60412,3%
Portugal10.456.41812.377.77518,4%
Japan8.653.3697.264.402-16,1%
Others65.475.76060.001.140-8,4%
TOTALSource: Ministry of Finance and Public Function; Customs Department1.148.935.6481.085.621.1645,5%

 Government budget

GOVERNMENT BUDGET2005201020112012
Result for the year-40,8-52,9-50,9-86,9
Deviation in expenses96,3%101,5%99,8%115,9%
Deviation in income98,0%85,0%86,1%110,2%
Expenses (million EUR)
Current expenses175,6233,6271,6274,4
Investment expenses121,0123,387,6180,5
Debt redemption & acquisition188,3246,6256,0299,2
Income (million EUR)
Income from taxes & duties232,1293,1298,9355,1
Other income23,710,99,413,0
Capital income260,2338,3320,8377,2

 Commune budgets

COMMUNE BUDGETS*2005201020112012
Result for the year2,419,114,115,2
Deviation in expenses66,9%74,5%80,3%83,0%
Deviation in income99,4%91,7%96,4%97,1%
Expenses (million EUR)
Current expenses80,299,598,992,3
Investment expenses43,315,113,98,7
Debt redemption & acquisition19,714,712,312,8
Income (million EUR)
Income from taxes & duties58,269,964,958,5
Other income67,763,961,957,7
Capital income9,70,02,03,5

*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 EMPLOYERS19952000200520102012
Agriculture, livestock, hunting &177151146148167
Industries1.4741.5191.7831.6671.462
Electricity, gas, water production108126149158164
Construction4.0245.1086.7234.4913.258
Vehicles sales and repairs8.1499.61811.1429.7329.042
Tourist accommodation  & resta3.8944.7965.6354.8624.667
Transport & communications7851.0071.2281.1541.084
Financial system1.1681.3511.5151.6611.711
Real estate & business services1.5802.6023.8854.0783.931
Public Administration  & social s2.2903.0343.8214.3554.337
Education305424536563546
Health & veterinary activities, so8411.0301.3491.6691.692
Other social activities & persona1.4121.9912.3352.3982.406
Others1.0991.3111.4821.6141.566
TOTAL27.30534.06641.72738.55036.033

 Minimal salary

                                per month (euro)    % annualCPI
1998654,22,1%
1999667,82,1%3,3%
2000689,63,3%5,1%
2001725,15,1%1,3%
2002734,41,3%5,0%
2003771,35,0%1,6%
2004783,51,6%3,8%
2005812,93,8%3,1%
2006838,13,1%3,2%
2007864,93,2%3,8%
2008897,93,8%1,9%
2009915,21,9%0,0%
2010915,20,0%1,6%
2011929,11,5%2,5%
2012951,62,4%1,1%

 Employment service     

Applicants looking for jobs510639950
Applicants looking for job improvement152163188
People receiving unemployment benefit3474125
Jobs offered272167214

 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

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