Global economy: Andorra 2017

Global : Andorra 2017

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

economy andorra,

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