Andorra ranked 166/197 by economy size with a GDP of $4.04B and 25/197 by GDP per capita at $49,304.
In 2025, Andorra made up 0.004% of the world's economy, compared to 0.003% in 1970.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1970 | $78,617,711 | $859,121,721 | - |
| 1971 | $89,406,608 | $899,066,287 | 13.7% |
| 1972 | $113,414,397 | $972,337,884 | 26.9% |
| 1973 | $150,841,639 | $1,048,068,102 | 33% |
| 1974 | $186,557,082 | $1,106,956,843 | 23.7% |
| 1975 | $220,112,572 | $1,112,958,826 | 18% |
| 1976 | $227,283,851 | $1,149,728,616 | 3.26% |
| 1977 | $253,997,897 | $1,182,364,531 | 11.8% |
| 1978 | $308,020,261 | $1,199,662,526 | 21.3% |
| 1979 | $411,548,748 | $1,200,161,073 | 33.6% |
| 1980 | $446,377,777 | $1,226,669,362 | 8.46% |
| 1981 | $388,983,266 | $1,225,044,338 | -12.9% |
| 1982 | $375,914,744 | $1,240,314,039 | -3.36% |
| 1983 | $327,850,043 | $1,262,269,065 | -12.8% |
| 1984 | $330,073,081 | $1,284,796,613 | 0.68% |
| 1985 | $346,742,715 | $1,314,622,306 | 5.05% |
| 1986 | $481,996,013 | $1,357,391,200 | 39% |
| 1987 | $611,299,925 | $1,432,687,348 | 26.8% |
| 1988 | $721,425,939 | $1,505,673,115 | 18% |
| 1989 | $795,489,582 | $1,578,352,472 | 10.3% |
| 1990 | $1,028,989,692 | $1,638,036,096 | 29.4% |
| 1991 | $1,106,891,362 | $1,679,740,553 | 7.57% |
| 1992 | $1,209,992,020 | $1,695,348,938 | 9.31% |
| 1993 | $1,007,090,270 | $1,677,861,678 | -16.8% |
| 1994 | $1,017,544,069 | $1,717,848,180 | 1.04% |
| 1995 | $1,178,745,283 | $1,765,217,871 | 15.8% |
| 1996 | $1,224,024,139 | $1,847,295,889 | 3.84% |
| 1997 | $1,180,645,572 | $2,014,802,622 | -3.54% |
| 1998 | $1,211,953,994 | $2,079,171,403 | 2.65% |
| 1999 | $1,240,295,103 | $2,164,398,280 | 2.34% |
| 2000 | $1,432,606,189 | $2,240,766,094 | 15.5% |
| 2001 | $1,548,265,808 | $2,422,701,909 | 8.07% |
| 2002 | $1,764,279,824 | $2,532,846,713 | 14% |
| 2003 | $2,366,941,809 | $2,753,057,567 | 34.2% |
| 2004 | $2,900,245,324 | $2,977,037,420 | 22.5% |
| 2005 | $3,161,084,091 | $3,137,731,826 | 8.99% |
| 2006 | $3,459,337,987 | $3,288,615,582 | 9.44% |
| 2007 | $3,957,625,367 | $3,339,693,969 | 14.4% |
| 2008 | $4,102,319,399 | $3,154,034,157 | 3.66% |
| 2009 | $3,688,976,341 | $2,986,780,566 | -10.1% |
| 2010 | $3,449,925,739 | $2,927,792,904 | -6.48% |
| 2011 | $3,629,133,574 | $2,927,556,638 | 5.19% |
| 2012 | $3,188,652,765 | $2,781,926,981 | -12.1% |
| 2013 | $3,193,512,950 | $2,683,235,436 | 0.15% |
| 2014 | $3,271,685,597 | $2,750,436,143 | 2.45% |
| 2015 | $2,789,881,259 | $2,789,881,259 | -14.7% |
| 2016 | $2,896,610,480 | $2,893,376,872 | 3.83% |
| 2017 | $3,000,162,081 | $2,903,390,036 | 3.57% |
| 2018 | $3,218,419,897 | $2,949,518,095 | 7.27% |
| 2019 | $3,155,149,348 | $3,008,967,037 | -1.97% |
| 2020 | $2,891,001,149 | $2,672,445,971 | -8.37% |
| 2021 | $3,324,647,529 | $2,893,905,657 | 15% |
| 2022 | $3,380,612,573 | $3,170,696,512 | 1.68% |
| 2023 | $3,785,067,332 | $3,252,613,194 | 12% |
| 2024 | $4,039,844,390 | $3,362,285,467 | 6.73% |
Economic Statistics of Andorra
Andorra
|
Rank | |
|---|---|---|
| Gross domestic product |
$4.04B
2024 |
166/197 |
| GDP growth |
6.73%
2023-2024 |
78/196 |
| GDP per capita |
$49,304
2024 |
25/197 |
| GDP per capita, PPP |
$74,939
2024 |
18/197 |
| Average annual personal income after taxes |
$30,890
2025 |
28/197 |
| Government expenditure, % of GDP |
35%
2025 |
72/195 |
| Consumer prices inflation |
-0.9%
2019-2020 |
193/195 |
| Unemployment rate |
3.7%
2016 |
129/196 |
| Population |
83589
|
186/197 |
Andorra's GDP per capita
Andorra has a GDP per capita of $49,304, ranking 25/197, a GDP per capita based on purchasing power parity (PPP) of $74,939, ranking 18/197, and a median annual after tax income of $30,890, ranking 28/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1970 | $3,935 | - |
| 1971 | $4,170 | - |
| 1972 | $4,940 | - |
| 1973 | $6,151 | - |
| 1974 | $7,140 | - |
| 1975 | $7,925 | - |
| 1976 | $7,721 | - |
| 1977 | $8,168 | - |
| 1978 | $9,410 | - |
| 1979 | $11,996 | - |
| 1980 | $12,475 | - |
| 1981 | $10,465 | - |
| 1982 | $9,698 | - |
| 1983 | $8,082 | - |
| 1984 | $7,808 | - |
| 1985 | $7,912 | - |
| 1986 | $10,539 | - |
| 1987 | $12,828 | - |
| 1988 | $14,599 | - |
| 1989 | $15,715 | - |
| 1990 | $19,564 | $24,909 |
| 1991 | $19,533 | $24,510 |
| 1992 | $20,100 | $23,817 |
| 1993 | $15,917 | $22,958 |
| 1994 | $15,749 | $23,509 |
| 1995 | $18,443 | $24,934 |
| 1996 | $19,130 | $26,542 |
| 1997 | $18,248 | $29,122 |
| 1998 | $18,537 | $30,073 |
| 1999 | $18,875 | $31,590 |
| 2000 | $21,810 | $33,458 |
| 2001 | $23,511 | $36,895 |
| 2002 | $26,528 | $38,787 |
| 2003 | $34,064 | $41,148 |
| 2004 | $39,021 | $42,717 |
| 2005 | $40,830 | $44,578 |
| 2006 | $43,467 | $46,853 |
| 2007 | $48,336 | $47,501 |
| 2008 | $49,133 | $44,839 |
| 2009 | $43,975 | $42,523 |
| 2010 | $42,747 | $43,853 |
| 2011 | $46,657 | $46,436 |
| 2012 | $41,501 | $45,503 |
| 2013 | $42,470 | $45,609 |
| 2014 | $44,370 | $48,506 |
| 2015 | $38,655 | $50,733 |
| 2016 | $40,130 | $53,110 |
| 2017 | $40,673 | $53,085 |
| 2018 | $42,820 | $55,245 |
| 2019 | $41,258 | $57,475 |
| 2020 | $37,361 | $52,096 |
| 2021 | $42,426 | $59,332 |
| 2022 | $42,414 | $68,470 |
| 2023 | $46,812 | $71,731 |
| 2024 | $49,304 | $74,939 |
Inflation rate by year
Over the past 10 years, Andorra has had an average annual inflation rate of 1.19%. In 2020, inflation was -0.9%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1998 | 1.62% |
| 1999 | - |
| 2000 | 4.3% |
| 2001 | - |
| 2002 | - |
| 2003 | - |
| 2004 | 3.4% |
| 2005 | 3.2% |
| 2006 | - |
| 2007 | 3.9% |
| 2008 | 2.3% |
| 2009 | - |
| 2010 | 1.6% |
| 2011 | - |
| 2012 | 1.1% |
| 2013 | - |
| 2014 | - |
| 2015 | -0.9% |
| 2016 | - |
| 2017 | - |
| 2018 | -0.9% |
| 2019 | -0.9% |
| 2020 | -0.9% |
Balance of trade
|
Andorra
|
Rank | |
|---|---|---|
Current account balance
|
$649M
2024 |
56/189 |
| Current account balance, % of GDP |
+16.1%
2024 |
6/189 |
| Goods imports |
$1.95B
2024 |
150/188 |
| Goods exports |
$255M
2024 |
165/188 |
| Service imports |
$1.04B
2024 |
143/188 |
| Service exports |
$3.38B
2024 |
103/188 |
| Exports of goods and services, % of GDP |
15%
2025 |
168/193 |
Andorra's top 10 trading partners
Andorra's biggest trading partner accounting for 65%% of all exports and imports is Spain, with a trade balance between the two of -$1.18B — Andorra exports $111M worth of goods and services to Spain and imports $1.29B.
Below is the list of the top 10 trade partners of Andorra.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Spain
|
$1.4B | 65% | $111M | $1.29B | Machinery & equipment | Machinery & equipment |
| 2 |
France
|
$245M | 11.4% | $31.6M | $213M | Machinery & equipment | Machinery & equipment |
| 3 |
Germany
|
$113M | 5.23% | $1.91M | $111M | Machinery & equipment | Machinery & equipment |
| 4 |
Italy
|
$64.8M | 3.01% | $2.57M | $62.2M | Precious metals & jewellery | Machinery & equipment |
| 5 |
China
|
$62.9M | 2.92% | $259K | $62.7M | Machinery & equipment | Textiles & consumer goods |
| 6 |
United Kingdom
|
$35.2M | 1.63% | $10.3M | $24.9M | Machinery & equipment | Machinery & equipment |
| 7 |
Switzerland
|
$33.9M | 1.57% | $1.06M | $32.9M | Machinery & equipment | Precious metals & jewellery |
| 8 |
Netherlands
|
$22M | 1.02% | $2.4M | $19.6M | Chemicals & pharma | Processed food, beverages & tobacco |
| 9 |
Portugal
|
$14.9M | 0.69% | $765K | $14.2M | Machinery & equipment | Processed food, beverages & tobacco |
| 10 |
Austria
|
$14.9M | 0.69% | $142K | $14.8M | Machinery & equipment | Machinery & equipment |
Andorra's top 10 exports
|
Andorra
|
Rank | |
|---|---|---|
| Transport & tourism services | $2.23B | 97/188 |
| Business & finance services | $180M | 115/188 |
| Machinery & equipment | $135M | 121/193 |
| IT & IP services | $120M | 106/183 |
| Precious metals & jewellery | $68.2M | 109/190 |
| Textiles & consumer goods | $20.8M | 139/193 |
| Wood & paper products | $14.1M | 133/192 |
| Manufacturing & construction services | $7.86M | 128/164 |
| Metals | $5.24M | 161/192 |
| Chemicals & pharma | $4.78M | 158/193 |
Andorra's top 10 imports
|
Andorra
|
Rank | |
|---|---|---|
| Machinery & equipment | $592M | 152/193 |
| Transport & tourism services | $305M | 155/188 |
| Processed food, beverages & tobacco | $293M | 142/193 |
| Textiles & consumer goods | $291M | 139/193 |
| Chemicals & pharma | $245M | 153/193 |
| Business & finance services | $243M | 134/188 |
| Raw materials & minerals | $215M | 166/193 |
| Animal & marine products | $95M | 136/193 |
| Metals | $71.6M | 167/193 |
| Precious metals & jewellery | $71.5M | 93/193 |
Economic freedom indices
|
Andorra
|
Rank | |
|---|---|---|
| Economic freedom | 72 | 27/197 |
More economic indicators
|
Andorra
|
Rank | |
|---|---|---|
| Services, % of GDP |
77.6%
2024 |
6/191 |
| Industry, % of GDP |
12.8%
2024 |
169/194 |
| Agriculture, forestry, and fishing, % of GDP |
0.47%
2024 |
184/193 |
|
GNI, Atlas method
|
$4B
2024 |
163/194 |
| GNI per capita, PPP |
$78,170
2024 |
11/191 |
|
Net foreign direct investment
|
-$150M
2024 |
76/188 |
|
Net inflows of foreign direct investment
|
$268M
2024 |
131/193 |
|
Net outflows of foreign direct investment
|
$118M
2024 |
84/187 |
| Poverty at national poverty lines |
8%
2008 |
160/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Andorra topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.