Overview: The mainstay of Andorra's economy is tourism. An estimated 12 million tourists visit annually, attracted by Andorra's duty-free status and by its summer and winter resorts. 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. The rapid pace of European economic integration is a potential threat to Andorra's advantages from its duty-free status.

GDP: $727 million, per capita $14,000; real growth rate NA% (1990 est.)

Inflation rate (consumer prices): NA%

Unemployment rate: none

Budget: revenues $NA; expenditures $NA, including capital expenditures of $NA

Exports: $0.017 million (f.o.b., 1986); commodities--electricity; partners--France, Spain

Imports: $531 million (f.o.b., 1986); commodities--consumer goods, food; partners--France, Spain

External debt: $NA

Industrial production: growth rate NA%

Electricity: 35,000 kW capacity; 140 million kWh produced, 2,800 kWh per capita (1989)

Industries: tourism (particularly skiing), sheep, timber, tobacco, smuggling, banking

Agriculture: sheep raising; small quantities of tobacco, rye, wheat, barley, oats, and some vegetables

Economic aid: none

Currency: French franc (plural--francs) and Spanish peseta (plural--pesetas); 1 French franc (F) = 100 centimes and 1 Spanish peseta (Pta) = 100 centimos

Exchange rates: French francs (F) per US$1--5.1307 (January 1991), 5.4453 (1990), 6.3801 (1989), 5.9569 (1988), 6.0107 (1987), 6.9261 (1986), 8.9852 (1985); Spanish pesetas (Ptas) per US$1--95.20 (January 1991), 101.93 (1990), 118.38 (1989), 116.49 (1988), 123.48 (1987), 140.05 (1986), 170.04 (1985)

Fiscal year: calendar year

NOTE: The information regarding Andorra on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Andorra Economy 1991 information contained here. All suggestions for corrections of any errors about Andorra Economy 1991 should be addressed to the CIA.