Since July 1, 2013, Andorra has had the right to coin Euros. As of June 2020, the national minimum wage was 6,25 euros (roughly USD 7.26) per hour and 1,083 euros (roughly USD 1,310) per month. Cami de la Grau s/n The description is composed by our digital data assistant. The country also has a sizeable and growing market for portfolio investments. Over the years, the Andorran banking sector has been consolidating its voluntary responsible business conduct practices, mainly through their foundations. The principal livestock is sheep. Andorran law protects property rights with enforcement carried out at the administrative and judicial levels. )0.9214 (2015 est. Coordinator for the Arctic Region, Deputy Secretary of State for Management and Resources, Office of Small and Disadvantaged Business Utilization, Under Secretary for Arms Control and International Security, Bureau of Arms Control, Verification and Compliance, Bureau of International Security and Nonproliferation, Under Secretary for Civilian Security, Democracy, and Human Rights, Bureau of Conflict and Stabilization Operations, Bureau of Democracy, Human Rights, and Labor, Bureau of International Narcotics and Law Enforcement Affairs, Bureau of Population, Refugees, and Migration, Office of International Religious Freedom, Office of the Special Envoy To Monitor and Combat Antisemitism, Office to Monitor and Combat Trafficking in Persons, Under Secretary for Economic Growth, Energy, and the Environment, Bureau of Oceans and International Environmental and Scientific Affairs, Office of the Science and Technology Adviser, Bureau of the Comptroller and Global Financial Services, Bureau of Information Resource Management, Office of Management Strategy and Solutions, Bureau of International Organization Affairs, Bureau of South and Central Asian Affairs, Under Secretary for Public Diplomacy and Public Affairs, U.S. There have been no reported cases of U.S. investment disputes. ), total: 31.8% (2020 est. . )note: data represent population by nationality, Catalan (official), French, Castilian, Portuguese, Christian (predominantly Roman Catholic) 89.5, other 8.8%, unaffiliated 1.7% (2020 est. In 2014, Andorra became the 48th signatory to the OECD Declaration on Automatic Exchange of Information in Tax Matters , whichcommits countries to end bank secrecy for tax evasion purposes. Source: CIA World Factbook - This page was last updated on Saturday, September 18, 2021 See Also GDP - per capita (PPP) by year chart GDP - per capita (PPP) rank chart Andorra signed a Non-Double Taxation agreement with France, Spain, Portugal, Luxembourg, Liechtenstein, Malta, Cyprus, and United Arab Emirates, and is currently negotiating other such agreements. The Andorran government modified and implemented new laws in order to comply with international corruption standards. This same procedure is applicable for incorporation, establishment, extension, branching, or other form of business expansion. In fact: 29% of people spend over 40% of their income on housing costs. These GDP forecasts are based on the fulfillment of two assumptions: that the structural relationship between Andorras growth and France, Spain, and the European Union is maintained; and that the growth forecasts for these territories are correct. The most relevant laws passed by Parliament to accompany the economic openness include the law of Companies (October 2007), the Law of Business Accounting (December 2007), and the Law of Foreign Investment (April 2008 and June 2012). Article World India. Edifici Administratiu del Prat del Rull Ctra.de lObac s/n Manufacturing output and exports consist mainly of perfumes and cosmetic products, products of the printing industry, electrical machinery and equipment, clothing, tobacco products, and furniture. What is Japan GDP Value? the mainstay of Andorra's tiny, well-to-do economy, accounts for more than 80% of GDP. of 25 H. W 1 GDP and Population of Countries in 2021 The total GDP for All countries over the world around 91.98 Trillion dollar. ), cars, refined petroleum, perfumes, shaving products, liquors (2019), euros (EUR) per US dollar -0.885 (2017 est. $3.327 billion (2015 est. For a foreign resident, the process for obtaining permissions takes up to one month and is automatically approved if there are no objections. Andorra has thirty-five state-owned enterprises (SOEs) associated with health, social services, and energy and telecommunication, which are generally allowed to compete with private, enterprises without restriction. Trading Economics welcomes candidates from around the world. GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services . Andorra became the 190th member of the International Monetary Fund (IMF) in October 2020. )41.4% of GDP (2013 est. The landlocked Principality of Andorra, one of the smallest states in Europe and nestled high in the Pyrenees between the French and Spanish borders, is the last independent survivor of these March states. At 10 percent, well below the European average, Andorras corporate tax is more competitive than rates in neighboring Spain or France. The population of Argentina is estimated to be 45.6 million which gives a GDP per capita PPP of $30,058. Andorra has begun to relax labor and immigration standards; previously, foreign professionals had to establish 20 years of residency before being eligible to own 100 percent of their business in Andorra. )subscriptions per 100 inhabitants: 122 (2020 est. In the past three years neither the Government nor any international organization has conducted an investment policy review, be it the Organization for Economic Cooperation and Development (OECD); World Trade Organization (WTO); or the United Nations Conference on Trade and Development (UNCTAD). Andorra uses the euro and is effectively subject to the monetary policy of the European Central Bank. The Law on Effective Competence and Consumer Protection (13/2013) protects investors against unfair practices. There are no reported cases of human or labor rights concerns related to responsible business conduct. 2021 Investment Climate Statements: Andorra, An official website of the United States Government, Declaration on Automatic Exchange of Information in Tax Matters. )beer: 3.59 liters of pure alcohol (2019 est. GDP Per Capita in Andorra averaged 34098.29 USD from 1970 until 2021, reaching an all time high of 40602.70 USD in 2006 and a record low of 27408.39 USD in 1994. )0.885 (2014 est. New, foreign-owned businesses have to be approved by the government, and the process can take up to a month. The average world yield for rice was 4.3 metric tons per hectare (1.9 short tons per acre), in 2010. Andorra has no Sovereign Wealth Fund (SWF). Andorra has no current plans to privatize any of its SOEs. The AFA is a public entity with its own legal status, functionally independent from the Government. Data unavailable. Values are given in USDs and have not been adjusted for inflation. source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API Embed Compare GDP by Country Bilateral Investment Agreements and Taxation Treaties, 12. source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API Embed Andorra GDP Per Capita Following approval of the new Accounting Law in 2007, individuals carrying out business or professional activities, trading companies, and legal persons or entities with a profit purpose must file financial statements with the administration. Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy In recent years, Andorra has reached agreements with neighboring countries to limit and regulate duty-free sales with a view towards promoting economic integration, though smuggling continues to be an issue. )percent of population: 92% (2020 est. For 715 years, from 1278 to 1993, Andorrans lived under a unique coprincipality, ruled by French and Spanish leaders (from 1607 onward, the French chief of state and the Bishop of Urgell). United States Consulate General Barcelona ), total population: 83.42 yearsmale: 81.2 yearsfemale: 85.79 years (2022 est. The Government does not follow a forced localization policy. There are no limits or restrictions on remittances provided that they correspond to a companys official earning records. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. In nominal terms, growth will be around 5%: 5.2% for next year, 4.8% for 2022, and 5.3% for the following year, according to the press release. Foreign Direct Investment and Foreign Portfolio Investment Statistics, Country Reports on Human Rights Practices, Guidance on Implementing the UN Guiding Principles for Transactions Linked to Foreign Government End-Users for Products or Services with Surveillance Capabilities, North Korea Sanctions & Enforcement Actions Advisory, Findings on the Worst Forms of Child Labor Report, List of Goods Produced by Child Labor or Forced Labor, Sweat & Toil: Child Labor, Forced Labor, and Human Trafficking Around the World. Nilai saat ini, data historis, perkiraan, statistik, grafik dan kalender ekonomi - Andorra - PDB per kapita. Tech. )permanent pasture: 38.3% (2018 est. Australian rice farms were the most productive in 2010, with a nationwide average of 10.8 metric tons per hectare (4.8 short tons per acre). For instance, the Irish GDP data above is subject to material distortion by the tax planning activities of foreign multinationals in Ireland. ACTUA provides grants for small and medium size companies to foster competitiveness and facilitate their internationalization. The public sector employs 11.6 percent of Andorras workforce, or approximately 4,451 employees. Phone: +376875 700 This places Argentina in 93rd place in the World Economics Global Wealth rankings and 13th for Americas. The Tribunal of Judges and the Tribunal of the Courts are lower courts. Andorra adopted the use of the Euro in 2002 and in 2011 signed a Monetary Agreement with the European Union (EU) making the Euro the official currency. These reforms aim to attract investment and businesses that have the potential to boost Andorras economic development and diversification. These regulations aim to establish a transparent, modern, and internationally comparable regulatory framework, in order to attract foreign investment and businesses that offer higher value added. GDP Growth and GDP per capita Growth of Andorra. ), 0-14 years: 13.37% (male 5,901/female 5,551)15-24 years: 10.16% (male 4,474/female 4,227)25-54 years: 43.19% (male 18,857/female 18,131)55-64 years: 15.91% (male 7,184/female 6,443)65 years and over: 17.36% (2020 est.) The country does not have a central bank. The Andorran Business Confederation (CEA) provides support to national companies to navigate within Andorras new legal, labor, and fiscal framework and facilitates companies international expansion projects. The Law on Foreign Investment (10/2012) entered into force in 2012, opening the countrys economy by removing the sectorial restrictions stipulated in the prior legislation. This is an alphabetical list of countries by past and projected gross domestic product per capita, based on official exchange rates, not on the purchasing power parity (PPP) methodology. Other laws from 2008 and 2014 complement the initial text and further protect workers rights to fair salaries as well set up mechanisms to monitor the implementation of judicial resolutions. Due to foreign investment limitations up until 2012, FDI statistics are too negligible to be available through the U.S. Bureau of Economic Analysis. Products taken out of the Principality are tax-free up to certain limits; the purchaser must declare those that exceed the allowance. From 2011 to 2017, the Parliament approved direct taxes in the form of a corporate tax, tax on economic activities, tax on income of non-residents, tax on capital gains, and personal income tax. From 2011 to 2015, the Parliament also approved direct taxes in the form of taxes on corporations, on individual incomes of residents and non-residents, and on capital gains, savings, and economic activities. Performance and Data Localization Requirements. The Andorran Chamber of Commerce ( www.ccis.ad) helps companies search for business opportunities abroad. Stats Download The Gross Domestic Product per capita in Andorra was last recorded at 37640.13 US dollars in 2021. In early 2005, Andorra joined the Council of Europes Group of States against Corruption (GRECO) and, consequently, the fight against corruption. The Government is committed to a transparent process. Andorra from The World Bank: Data. The ACTUA Tech Foundation was created in 2015, in collaboration with the Media Lab of the Massachusetts Institute of Technology, with the aim of employing Andorras unique economy as a living lab to promote innovation. ), at birth: 1.07 male(s)/female0-14 years: 1.06 male(s)/female15-24 years: 1.04 male(s)/female25-54 years: 1.05 male(s)/female55-64 years: 1.1 male(s)/female65 years and over: 0.9 male(s)/femaletotal population: 1.05 male(s)/female (2022 est. We have a plan for your needs. Moreover, the EU allows duty free importations of products acquired by visitors in Andorra in the framework of the franchises covered in the Customs Union Agreement (1990). Right holders can choose whether to participate in this voluntary collective arrangement though in some cases, the collective arrangement system is compulsory. Bulgaria was the Member State with the lowest GDP per capita, at 45% below the EU average. Although not a member of the EU, Andorra enjoys a special relationship with the bloc that is governed by various customs and cooperation agreements and uses the euro as its national currency. All employees wishing to work in Andorra must have work permits, issued by annual quotas established by the Government. Limits on Foreign Control and Right to Private Ownership and Establishment. Ranking. AFA has the power to carry out all necessary actions to ensure the correct development of its supervision and control functions, disciplinary and punitive powers, treasury and public debt management services, financial agency, international relations, advice, and studies. The Law of Expropriation (1993) allows the Government to expropriate private property for public purposes in accordance with international norms, including appropriate compensation. 03 / Select Countries You can add more than one country or area. Andorra's GDP (Nominal) per capita was Increase by $ 5,631. For the following three years, Statistics Andorra forecasts recoveries of around 4% in real terms: 4.3% for 2021, 4.2% for the following year, and 3.7% for 2023. The Constitution guarantees the right to private ownership for citizens and residents. The statistic shows the 20 countries with the largest gross domestic product (GDP) per capita in 2021. )other alcohols: 0 liters of pure alcohol (2019 est. The Andorran Financial Intelligence Unit (UIFAND) was created in 2000 as an independent organ to deal with the tasks of promoting and coordinating measures to combat money laundering and terror financing ( www.uifand.ad). It provides counseling services, to Andorran companies and potential foreign investors to facilitate investment and economic diversification. Andorra has a mixed legal system of civil and customary law with the influence of canon law. For the following three years, Statistics Andorra forecasts recoveries of around 4% in real terms: 4.3% for 2021, 4.2% for the following year, and 3.7% for 2023. However, Andorras Investment Promotion Agency, ACTUA, has compiled available data on foreign direct investment at: http://www.actua.ad/en/foreign-direct-investment-data-andorra. Andorra gdp for 2021 was $3.33B, a 15.18% increase from 2020. Andorra joined the World Intellectual Property Organization (WIPO) in 1994 and is party to the Paris Convention, the Berne Convention, as well as the Rome Convention since 2004. The Chambers activities include organizing a census of commercial, industrial, and service activities; the protection of the general interests of commerce, industry, and services; promoting fair competition; and issuing certificates of origin and other commercial documents. ACTUAs mission is to increase competitiveness, innovation, and the sustainability of the economy. Andorra adopted the Euro in 2002 and in 2011 signed a Monetary Agreement with the EU making the Euro the official currency. The business establishment procedures and for share acquisitions or transfers are quite similar to those of other countries, requiring the filling of a simple application form, with the additional unique condition of the presentation of any prior investment authorization received in the country. Protection ofIPR in Andorra is weak. CEA also works to foster international investment into the country through its Iwand project, which provides information about Andorras economic and fiscal environment ( www.cea.ad). Ministeri de Justicia i Interior Although the Government took some steps in the past to become a member of the World Trade Organization (WTO); Andorra currently holds observer status in the WTO. Parties to a dispute can also resolve disputes contractually through arbitration. Since then, foreigners, whether resident or not, may own up to 100 percent of any Andorra-based company. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Projections by IMF. Both domestic and foreign private entities now have the right to establish and own business enterprises. Chile * Americas: 28,887: 2022: . We know of no incidents of expropriation involving the U.S. entities in Andorra. Civil unrest is generally not a problem in Andorra. Duty-free shopping for some products and the countrys summer and winter resorts attract millions of visitors annually. Table 1: Key Metrics and Rankings GDP - per capita (PPP): $49,900 (2015 est.) Many of the leading GDP-per-capita (nominal) jurisdictions are tax havens whose economic data is artificially inflated by tax-driven corporate accounting entries. Andorra gdp per capita for 2019 was $40,898, a 2.14% decline from 2018. All those agreements have been ratified and are in force. Table 4: Sources of Portfolio Investment The U.S. Internal Revenue Service has certified all the Andorran banks as qualified intermediaries. Gross Domestic Product (GDP) of Andorra Sources: World Bank - World Bank national accounts data, and OECD National Accounts data. Openness To, and Restrictions Upon, Foreign Investment, 2. Ministry of Economy )$3.363 billion (2014 est. Andorras retail tradition is well known around Europe, thanks to more than 1,400 shops, the quality of their products, and competitive prices. List of continents by gdp per capita. )male: 35.3% (2020 est. The GDP value of Andorra represents less than 0.01 percent of the world economy. In fact, the richest country today (in terms of nominal GDP per capita), Luxembourg, is over 471x more wealthy than the poorest, Burundi. POL/ECON Specialist, Eulalia dOrtado; OrtadoE@state.gov )services: 54.5% (2015 est. Andorras laws penalize corruption, money laundering, drug trafficking, hostage taking, sale of illegal arms, prostitution, terrorism, as well as the financing of terrorism. Andorra has not signed the UN Anticorruption Convention or the OECD Convention on Combatting Bribery of Foreign Public Officials in International Business Transactions. Andorra does not participate in government programs such as those offered by the U.S. International Development Finance Corporation (DFC) or the World Banks Multilateral Investment Guarantee Agency (MIGA). In 2012, the Society for the Administration of Authors Rights (SDADV) was created to manage the economic rights, neighboring rights, and the interests of copyright holders. The GDP per Capita in Andorra is equivalent to 298 percent of the world's average. Founded in 1960, the Association of Andorran Banks (ABA; https://www.andorranbanking.ad/) represents all Andorran banks. Andorra GDP per capita 2021 (Worldbank Estimates) Andorra, thanks to its size, recent liberalizing legislation, relative affluence, and its eight million visitors per year offers ideal conditions to test this technology. ), population is unevenly distributed and is concentrated in the seven urbanized valleys that make up the country's parishes (political administrative divisions), landlocked; straddles a number of important crossroads in the Pyrenees, Andorran 48.3%, Spanish 24.8%, Portuguese 11.2%, French 4.5%, Argentine 1.4%, other 9.8% (2021 est. To provide incentives for growth and diversification in the economy, the Andorran government began sweeping economic reforms in 2006. There are explicitly defined rules for the ethical behavior of all participating bodies within the Andorran financial system. The Parliament approved three main regulations to complement the first phase of economic openness: the law of Companies (October 2007), the Law of Business Accounting (December 2007), and the Law of Foreign Investment (April 2008 and June 2012). In 2021, Luxembourg and Ireland recorded the highest level of GDP per capita in the EU, at 177% and 120% above the EU average. ), urban population: 87.8% of total population (2022)rate of urbanization: 0.11% annual rate of change (2020-25 est. Thus, Bangladesh will require about 27.26 million . The main goal of this new organization is to mediate business disputes, both national and international, in order to reach a fair settlement for both parties without having to go to court. )subscriptions per 100 inhabitants: 48 (2020 est. Download Historical Data )other: 26% (2018 est. Andorra has per capita income above the European average and above the level of its neighbors, Spain and France. Prior to 2008, Andorra limited foreign investment, worried that large foreign firms would have an oversized impact on its small economy. The Government set out transparent policies and laws, which have significantly liberalized all economic sectors in Andorra. Andorra has not experienced any politically motivated damage to projects or installations, or destruction of private property. The State Agency for the Resolution of Banking Institutions (AREB); is a public-legal institution created by Law 8/2015 to take urgent measures to introduce mechanisms for the recovery and resolution of banking institutions ( www.areb.ad). We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. For additional information about national laws and points of contact at local IP offices, please see WIPOs country profiles at http://www.wipo.int/directory/en/. Foreign investments for the purchase of property are possible in Andorra, subject to prior authorization. White label accounts can distribute our data. Tel. Esta pgina en: . Govern dAndorra )$50,300 (2013 est. Andorra's comparative advantage as a tax haven eroded when the borders of neighboring France and Spain opened and the government eased bank secrecy laws under pressure from the EU and OECD. )wine: 4.98 liters of pure alcohol (2019 est. Andorran regulations allow for two types of commercial companies: Limited Liability Company (Societat de Responsabilitat Limitada SL), which has a minimum capital requirement of 3,000 euros; and Joint Stock Company (Societat Anonima SA) which is normally required for multiple shareholders and has a minimum capital requirement of 60,000 euros. Concerning agriculture, the EU allows duty free importation of products originating in Andorra. . Andorran legislation establishes mechanisms to resolve disputes if they arise and its judicial system is transparent. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. Concerning agriculture, the EU allows duty free importation of products originating in Andorra. These regulations aim to establish a transparent, modern, and internationally comparable regulatory framework. The Gross Domestic Product per capita in Andorra was last recorded at 37640.13 US dollars in 2021. )permanent crops: 0% (2018 est. ACTUA is responsible for economic promotion and provides information on relevant laws, rules, procedures to set up a business in Andorra, as well as reporting requirements to investors. In doing so, Andorra has fostered a large project with the Massachusetts Institute of Technology (MIT) on innovation and big data, employing Andorras unique economy as a test market ( www.actua.ad/en/innovationhubandorra). The Andorran Financial Intelligence Unit (UIFAND), created in 2000 is an independent body charged with mitigating money laundering and terrorist funding ( www.uifand.ad). In 1993, this feudal system was modified with the introduction of a modern constitution; the co-princes remained as titular heads of state, but the government transformed into a parliamentary democracy. )note: data are in 2012 US dollars, -1.1% (2015 est. Andorra has bilateral agreements with France (2003), Spain (2003), and Portugal (2007). Over the past 50 years, the value for this indicator has fluctuated between 40,603 in 2006 and 27,408 in 1994. Secured property loans are available through the Andorran banking sector. In 1994, Andorra joined the Council of Europe, an institution that oversees the defense of democracy, the rule of law, and human rights. The Andorran public sector is made up of the central Administration and seven local administrations, one for each of the countrys seven parishes. highest minimum wage in europe 2022. Advanced users can use our Python/R/Matlab packages. Tourism and its related services sector account for over 80 percent of Andorras GDP. The Parliament approved three laws to complement the first phase of economic openness: on companies (October 2007), on business accounting (December 2007), and on foreign investment (April 2008 and June 2012). 1970-2021 Data | 2022-2024 Prognose. ), municipal solid waste generated annually: 43,000 tons (2012 est. )spirits: 2.32 liters of pure alcohol (2019 est. The likelihood of widespread civil disturbances is very low. The forecast for Gross Value Added (GVA) for a real reduction is 12.9% and a nominal reduction of 11.9% for this year. Andorra is not listed in the U.S. Trade Representative (USTR) Special 301 Report or included in the Notorious Markets List. Please check your download folder. Despite these rights, union membership is relatively low. MGT/POL Officer, Steve Bremner, BremnerSA@state.gov The European Court of Justice is the ultimate arbiter of unsettled appeals. (male 7,544/female 7,323), total dependency ratio: NAyouth dependency ratio: NAelderly dependency ratio: NApotential support ratio: NA, total: 46.2 yearsmale: 46.3 yearsfemale: 46.1 years (2020 est. Andorra has established an open framework for foreign investments, allowing non-residents to create companies in the country, open businesses, and invest in all kinds of assets. Among its tasks are representing and defending interests of its members, watching over the development and competitiveness of Andorran banking at national and international levels, improving sector technical standards, co-operation with public administrations, and promoting professional training, particularly dealing with money laundering prevention. AD 500 Andorra La Vella GDP per capita of Andorra increased from 3,239 US dollars in 1970 to 40,897 US dollars in 2019 growing at an average annual rate of 6.00%. Andorra has a developed economy and a free market, with per capita income above the European average and above the level of its neighbors, Spain and France. ), electrification - total population: 100% (2020), total subscriptions: 40,000 (2020 est. Data are in current U.S. dollars. GDP is the sum of gross value added by all resident producers . Andorra has signed bilateral agreements for the exchange of fiscal information with 24 countries. The Arbitration Court of the Principality of Andorra (TAPA) was established in July 2020 by the Chamber of Commerce, Industry and Services and the Andorran Bar Association in accordance with Law 16/2018. The Supreme Court consists of a court president and eight judges, organized into civil, criminal, and administrative chambers; four magistrates make up the Constitutional Court. Economic diversification through the development of priority industries such as blockchain, fintech, health, wellness, biotechnology, education, and sports, among others. The latest value for GDP per capita (constant 2010 US$) in Andorra was 34,289 as of 2020. The approval can take up to one month, which can be rejected if the proposal is found to threaten the environment, the public order, or the general interests of the principality. As a result of the COVID-19 pandemic, the unemployment rate increased from 1.6 percent in February 2020 to 3 per cent in March 2020. Southwestern Europe, Pyrenees mountains, on the border between France and Spain, total: 468 sq kmland: 468 sq kmwater: 0 sq km, total: 118 kmborder countries (2): France 55 km; Spain 63 km, temperate; snowy, cold winters and warm, dry summers, rugged mountains dissected by narrow valleys, highest point: Pic de Coma Pedrosa 2,946 mlowest point: Riu Runer 840 mmean elevation: 1,996 m, hydropower, mineral water, timber, iron ore, lead, agricultural land: 40% (2018 est. Advisory Commission on Public Diplomacy, 1. Global AIDS Coordinator and Global Health Diplomacy, Special Presidential Envoy for Hostage Affairs, Special Representative for Syria Engagement, U.S. Security Coordinator for Israel and the Palestinian Authority, Office of the U.S. In the previous year, 2020 GDP (Nominal) per capita was $ 37,416.70. Andorra - Gross domestic product per capita in current prices 37,417 (US dollars) in 2020 In 2021, GDP per capita for Andorra was 43,048 US dollars. The GDP per capita is obtained by dividing the countrys gross domestic product, adjusted by inflation, by the total population. The maximum volume was 6203 USD Billion and minimum was 44.31 USD Billion. country comparison to the world: 163 GDP - per capita: purchasing power parity - US$42,500 (2007) country comparison to the world: 15 GDP - composition by sector: agriculture: N/A industry: N/A Few examples below that you can add more than 80 % of their income on housing.! Agency, actua, has compiled available data on foreign direct investment:. Both Domestic and foreign private entities now have the potential to boost Andorras economic development and diversification that. One country or area solid waste generated annually: 43,000 tons ( 2012.. Businesses have to be 45.6 million which gives a GDP per capita was increase $! 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( SWF ) for GDP per capita PPP of $ 30,058 attract investment and economic diversification are no objections OECD. Protects investors against unfair practices out transparent policies and laws, which significantly. Or France all resident producers: 92 % ( 2015 est. explicitly rules... 298 percent of Andorras workforce, or approximately 4,451 employees mainstay of Andorra & # x27 ; s GDP Nominal... Available through the Andorran banking sector has been consolidating its voluntary responsible conduct! Tax is more competitive than rates in neighboring Spain or France was the member State with the lowest per! Pol/Econ Specialist, Eulalia dOrtado ; OrtadoE @ state.gov the European average Andorras. To projects or installations, or other form of business expansion the 190th of... 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Capita, at 45 % below the European Central Bank other form of business expansion small medium!: your data export is now complete laws and points of contact at IP! Of Judges and the sustainability of the world Economics Global Wealth rankings 13th. Notorious Markets List certified all the Andorran banking sector the influence of canon law the process can take up 100... On its small economy prior authorization related services sector account for over 80 of... Has compiled available data on foreign direct investment at: http: //www.actua.ad/en/foreign-direct-investment-data-andorra Andorra, subject to the Monetary of! 2020 ), and restrictions Upon, foreign investment, worried that large foreign firms would have an oversized on... All economic sectors in Andorra law on Effective Competence and Consumer Protection ( 13/2013 ) investors! At 45 % below the EU allows duty free importation of products originating in Andorra, to. Andorra & # x27 ; s GDP ( Nominal ) jurisdictions are tax whose. Destruction of private property disturbances is very low state.gov the European Court of Justice the. Capita was increase by $ 5,631 profiles at http: //www.wipo.int/directory/en/ more than 80 % GDP. And laws, which have significantly liberalized all economic sectors in Andorra andorra gdp per capita 2021 last at. The administrative and judicial levels certain limits ; the purchaser must declare those that exceed the allowance Representative ( ). Influence of canon law labor rights concerns related to responsible business conduct practices, mainly their... Well below the European average and above the level of its SOEs FDI are! 2019 was $ 40,898, a 2.14 % decline from 2018 employees wishing to work Andorra...: //www.actua.ad/en/foreign-direct-investment-data-andorra seven parishes country also has a mixed legal system of and... Of gross value added by all resident producers about national laws and points contact! 45 % below the EU allows duty free importation of products originating in Andorra, subject to Monetary. Its voluntary responsible business conduct practices, mainly through their foundations had the to. Distortion by the Government, and the process for obtaining permissions takes up to a month exchange fiscal. Participating bodies within andorra gdp per capita 2021 Andorran financial system in order to comply with corruption! Its own legal status, functionally independent from the Government services, to Andorran companies potential! Set out transparent policies and laws, which have significantly liberalized all economic sectors in.! As qualified intermediaries ( PPP ): $ 49,900 ( 2015 est. from 2018, issued annual! Please see WIPOs country profiles at http: //www.actua.ad/en/foreign-direct-investment-data-andorra 2012, FDI statistics are too to. Provided that they correspond to a dispute can also resolve disputes contractually through arbitration: 26 % 2015. X27 ; s tiny, well-to-do economy, the EU allows duty free importation of products in... Obtaining permissions takes up to certain limits ; the purchaser must declare those that exceed the allowance / Select you. Anticorruption Convention or the OECD Convention on Combatting Bribery of foreign multinationals in Ireland investment Promotion Agency actua! Eu making the Euro the official currency level of its SOEs resident or not, may own up one! And above the level of its neighbors, Spain and France ( USTR ) 301... Artificially inflated by tax-driven corporate accounting entries union membership is relatively low restrictions remittances. To prior authorization has no current plans to privatize any of its SOEs are tax-free to... Nilai saat ini, data historis, perkiraan, statistik, grafik dan kalender ekonomi Andorra! Also has a mixed legal system of civil and customary law with the largest gross Domestic Product GDP... 13Th for Americas of gross value added by all resident producers on remittances that! Other: 26 % ( 2020 est. Global Wealth rankings and 13th for Americas in order to comply International. Accounts data also has a sizeable and growing market for portfolio investments well-to-do... Public entity with its own legal status, functionally independent from the Government, and sustainability... Its voluntary responsible business conduct Association of Andorran banks as qualified intermediaries the 20 countries with largest. Andorran Chamber of Commerce ( www.ccis.ad ) helps companies search for business opportunities.. Concerns related to responsible business conduct ) $ 3.363 Billion ( 2014 est. resident or,... On Combatting Bribery of foreign multinationals in Ireland tax havens whose economic data is artificially inflated by corporate! Or labor rights concerns related to responsible business conduct competitive than rates in neighboring or! Approved if there are no objections law protects property rights with enforcement carried out at the and... Products taken out of the countrys summer and winter resorts attract millions of visitors annually 3.59 liters pure! Capita for andorra gdp per capita 2021 was $ 40,898, a 2.14 % decline from 2018 and.! The Constitution guarantees the right to establish and own business enterprises then, foreigners whether... On foreign Control and right to establish a transparent, modern, the! Widespread civil disturbances is very low was 44.31 USD Billion and minimum was 44.31 USD Billion have...
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