Andorra economy · Economy in Andorra
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Economy in Andorra
Economy in Andorra
Tourism, the mainstay of Andorra's tiny, well-to-do economy, accounts for roughly 80% of GDP. An estimated 9 million tourists visit annually, attracted by Andorra's duty-free status and by its summer and winter resorts. Andorra's comparative advantage has recently eroded as the economies of neighboring France and Spain have been opened up, providing broader availability of goods and lower tariffs. The banking sector, with its "tax haven" status, also contributes substantially to the economy. Agricultural production is limited -- only 2% of the land is arable -- and most food has to be imported. The principal livestock activity is sheep raising. Manufacturing output consists mainly of cigarettes, cigars, and furniture. Andorra is a member of the EU Customs Union and is treated as an EU member for trade in manufactured goods (no tariffs) and as a non-EU member for agricultural products.
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Andorra Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.