Andorra's Macroeconomic Analysis:
Nominal GDP of USD 3.7 billion in 2023.
GDP per capita of USD 43,859 compared to the global average of USD 10,589.
Average real GDP growth of 1.5% over the last decade.
Main Economic Indicators
Economic growthThe economy recorded average annual growth of 1.5% in the decade to 2023. To read more about GDP growth in Andorra, go to our dedicated page.
Fiscal policy
Andorra's fiscal surplus averaged 2.2% of GDP in the decade to 2023. Find out more on our dedicated page.
Inflation
Inflation averaged 1.5% in the decade to 2023. Go to our Andorra inflation page for extra insight.
Andorra Economic Forecasts
Projections out to 2034.21 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 3 expert analysts.
Want to get insight on the economic outlook for Andorra in the coming years? FocusEconomics collects projections out to 2034 on 21 economic indicators for Andorra from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Andorra economy. To download a sample report on the Andorra's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.
Andorra Economic Indicators
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Population (million) | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| GDP (USD bn) | 2.9 | 3.3 | 3.4 | 3.7 | - |
| GDP per Capita (USD) | 36,987 | 41,563 | 41,171 | 43,859 | - |
| GDP (LCU bn) | 2.5 | 2.8 | 3.2 | 3.4 | - |
| Economic Growth (Nominal GDP, ann. var. %) | -10.2 | 11.1 | 14.2 | 7.4 | - |
| Economic Growth (GDP, ann. var. %) | -11.2 | 8.3 | 9.6 | 1.5 | - |
| Fiscal Balance (% of GDP) | -1.1 | -1.2 | 4.8 | 2.3 | - |
| Public Debt (% of GDP) | 46.4 | 48.6 | 38.9 | 36.4 | - |
| Inflation (CPI, ann. var. %, eop) | -0.5 | 3.3 | 7.2 | 4.6 | - |
| Inflation (CPI, ann. var. %, aop) | 0.1 | 1.7 | 6.2 | 5.6 | - |
| Current Account Balance (USD bn) | 0.4 | 0.5 | 0.6 | - | - |
| Current Account Balance (% of GDP) | 15.5 | 14.1 | 17.2 | - | - |
| Merchandise Trade Balance (USD bn) | -1.3 | -1.1 | - | - | - |
| Merchandise Exports (USD bn) | 0.2 | 0.3 | - | - | - |
| Merchandise Imports (USD bn) | 1.5 | 1.4 | - | - | - |
| Merchandise Exports (ann. var. %) | 29.9 | 57.9 | - | - | - |
| Merchandise Imports (ann. var. %) | -2.8 | -6.7 | - | - | - |
| International Reserves (USD bn) | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| International Reserves (months of imports) | 0.4 | 1.1 | - | - | - |