{"id":7129,"date":"2023-03-28T12:11:19","date_gmt":"2023-03-28T10:11:19","guid":{"rendered":"https:\/\/andorrainsiders.com\/?p=7129"},"modified":"2026-05-09T07:21:30","modified_gmt":"2026-05-09T05:21:30","slug":"crecimiento-economico-andorra-tasa-pib","status":"publish","type":"post","link":"https:\/\/andorrainsiders.com\/en\/andorras-economic-growth-gdp-rate\/","title":{"rendered":"Economic growth in Andorra: GDP rate"},"content":{"rendered":"<p><strong>Economic growth in Andorra has finally been 8.8% in 2022<\/strong>, thus confirming the economic recovery after the covid pandemic. In a previous article we already explained that <a href=\"https:\/\/andorrainsiders.com\/en\/imf-boosts-economic-growth-in-andorra-in-2022\/\" data-type=\"post\" data-id=\"6549\">the IMF revised upwards the growth forecasts for the Principality in 2022<\/a>. By then, <a href=\"https:\/\/www.govern.ad\/finances\/item\/14870-l-fmi-preveu-que-andorra-sigui-el-segon-pais-d-europa-amb-mes-creixement-economic-durant-el-2022\" target=\"_blank\" rel=\"noopener\">The IMF estimated that Andorra would grow by 6.6% in 2022, compared to the previous forecast of 4.5%<\/a>. Thus, Andorra would be the second country with the highest economic growth in all of Europe.<\/p>\n\n\n\n<div class=\"wp-block-group datos-clave-andorra\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n\n<h4 class=\"wp-block-heading\">\ud83d\udcca Datos clave (2025\u20132026)<\/h4>\n\n\n<ul class=\"wp-block-list\"><li>PIB de Andorra 2024: <strong>>3.300 millones \u20ac<\/strong> <em>(Departament d&#8217;Estad\u00edstica d&#8217;Andorra)<\/em><\/li><li>PIB per c\u00e1pita: ~<strong>43.000 \u20ac\/habitante<\/strong> \u2014 top 20 mundial <em>(FMI, 2024)<\/em><\/li><li>Tasa de crecimiento PIB real 2024: <strong>+2,8 %<\/strong> <em>(FMI Article IV, 2024)<\/em><\/li><li>Visitantes anuales: <strong>>8 millones<\/strong> \u2014 100x la poblaci\u00f3n <em>(Turisme d&#8217;Andorra, 2024)<\/em><\/li><li>Sector servicios: <strong>>80 %<\/strong> del PIB; turismo y comercio: >20 % del PIB<\/li><\/ul>\n\n<\/div><\/div>\n\n\n\n<p class=\"ultima-actualizacion\"><strong>\u00daltima actualizaci\u00f3n:<\/strong> mayo de 2026. La informaci\u00f3n de este art\u00edculo se contrasta regularmente con fuentes oficiales del Govern d&#8217;Andorra.<\/p>\n\n\n\n<p>However, finally <strong>the country has exceeded all their expectations<\/strong>. With a value of 2,800 million, <strong>Andorran GDP grew in 2022 no less than 8.8% in real terms<\/strong> compared to the previous year, which was 2,572 million euros. All this according to <a href=\"https:\/\/www.estadistica.ad\/\" target=\"_blank\" rel=\"noopener\">Statistics Department<\/a> of the government itself. The nominal data is even better, although it does not reflect real growth due to inflation. <strong>Andorra had a nominal GDP in 2022 of almost 3,200 million euros, which represents a nominal growth of 13.4%<\/strong>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/crecimiento-economico-andorra-2022-1024x408.png\" alt=\"Real GDP in Andorra in 2022: 2,800 million euros\" class=\"wp-image-7469\" width=\"768\" height=\"306\" srcset=\"https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/crecimiento-economico-andorra-2022-1024x408.png 1024w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/crecimiento-economico-andorra-2022-300x120.png 300w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/crecimiento-economico-andorra-2022-768x306.png 768w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/crecimiento-economico-andorra-2022-1536x613.png 1536w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/crecimiento-economico-andorra-2022-18x7.png 18w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/crecimiento-economico-andorra-2022.png 1986w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><figcaption class=\"wp-element-caption\">Real GDP in Andorra in 2022: 2,800 million euros<\/figcaption><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/pib-andorra-2022-1024x392.png\" alt=\"Economic growth in Andorra in 2022: 8.8%\" class=\"wp-image-7470\" width=\"768\" height=\"294\" srcset=\"https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/pib-andorra-2022-1024x392.png 1024w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/pib-andorra-2022-300x115.png 300w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/pib-andorra-2022-768x294.png 768w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/pib-andorra-2022-1536x588.png 1536w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/pib-andorra-2022-2048x784.png 2048w, https:\/\/andorrainsiders.com\/wp-content\/uploads\/2023\/03\/pib-andorra-2022-18x7.png 18w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><figcaption class=\"wp-element-caption\">Economic growth in Andorra in 2022: 8.8%<\/figcaption><\/figure>\n<\/div>\n\n\n<p>This leaves us a <strong>Real GDP per capita of \u20ac34,304 for the estimated population<\/strong> and \u20ac32,315 for the registered population. Obviously measured annually. Therefore, per capita GDP growth of around 6%, similar to the previous year. Regarding the nominal GDP per capita, it was \u20ac39,068 for the estimated population and \u20ac36,802 for the registered population, thus assuming a growth of 10.5%, higher than the previous year, which was 9%. These differences are due to the fact that the population in Andorra grew by 2.6% in the same year 2022.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Economic growth and GDP by sectors<\/h2>\n\n\n\n<p>Yeah <a href=\"https:\/\/www.estadistica.ad\/portal\/apps\/sites\/#\/estadistica-ca\/pages\/estadistiques-i-dades-detall?Idioma=ca&amp;N2=233&amp;N3=234&amp;DV=2656&amp;From=2000&amp;To=2022&amp;Var=A-1\" target=\"_blank\" rel=\"noopener\">we break down the data by productive sectors<\/a>, we check that <strong>growth is due to the rise of all sections<\/strong> that make up the economy of Andorra. However, <a href=\"https:\/\/www.diariandorra.ad\/noticies\/nacional\/2023\/03\/23\/el_pib_registra_una_crescuda_del_2022_217950_1125.html\" target=\"_blank\" rel=\"noopener\">some increase their GDP more than others<\/a>. Below we can see them ordered according to their increase. Of course, the data is in real terms:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Commerce, hospitality, transport, information and communications: 11.8%<\/li>\n\n\n\n<li>Non-financial: 7.8%<\/li>\n\n\n\n<li>Construction: 7.4%<\/li>\n\n\n\n<li>Services: 7.1%<\/li>\n\n\n\n<li>Financial, real estate, professional and technical: 5.4%<\/li>\n\n\n\n<li>Public administrations, education, health, social and personal services: 4.1%<\/li>\n\n\n\n<li>Agriculture: 1.2%<\/li>\n\n\n\n<li>Industry and manufacturing: 0.8%<\/li>\n<\/ul>\n\n\n\n<p>As we can observe, <strong>the largest increase is due to the sectors related to tourism and shopping<\/strong>as well as in more technological activities. It also highlights the <strong>significant increase in construction<\/strong>, something that will be very good and positive in terms of the impact on the <a href=\"https:\/\/andorrainsiders.com\/en\/andorra-apartment-buy-rent-prices\/\" data-type=\"post\" data-id=\"4371\">house prices in Andorra<\/a>, a controversial and very popular issue in the country due to the enormous increase in real estate prices in the last two years. Even more when <a href=\"https:\/\/www.estadistica.ad\/portal\/apps\/sites\/#\/estadistica-ca\/pages\/publicacio?Idioma=ca&amp;Id=30072&amp;IdCat=4\" target=\"_blank\" rel=\"noopener\">approximately 70% of the buildings are flats, houses or chalets<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">In conclusion<\/h2>\n\n\n\n<p>In short: Andorra has had a <strong>rapid recovery thanks to its great economic growth<\/strong> post pandemic. Thus, he has achieved <strong>already exceed the level prior to the pandemic and be above the economies of its environment<\/strong>. For example, <a href=\"https:\/\/www.elconfidencial.com\/economia\/2023-01-27\/economia-espanola-crecimiento-pib-contraccion_3565044\/\" target=\"_blank\" rel=\"noopener\">Spain grew by 5.5% in 2022<\/a> and it has not yet achieved its pre-pandemic GDP level. ditto with <a href=\"https:\/\/datosmacro.expansion.com\/pib\/francia#:~:text=El%20producto%20interior%20bruto%20de,los%20que%20publicamos%20el%20PIB.\" target=\"_blank\" rel=\"noopener\">France that barely grew 2.6% in 2022<\/a>. Given further the <a href=\"https:\/\/andorrainsiders.com\/en\/public-debt-economic-solvency\/\" data-type=\"post\" data-id=\"4205\">low volume of public debt<\/a> that Andorra has, is excellent news.<\/p>\n\n\n\n<p>Furthermore, the 2023 forecast that the Andorran economy would grow above the EU average until 2027 has been confirmed by the actual data. In 2023, GDP grew by <strong>~2.5% in real terms<\/strong>with a nominal GDP of approximately <strong>3.44 billion euros<\/strong>, according to the <a href=\"https:\/\/www.estadistica.ad\/\" target=\"_blank\" rel=\"noopener\">Departament d&#8217;Estad\u00edstica<\/a>In 2024, growth accelerated to a <strong>~3.4-3.8% real<\/strong>, reaching a nominal GDP of <strong>3.732 billion euros<\/strong>. The <strong>GDP per capita stood at \u20ac34,471 in 2024<\/strong> (+1.5% compared to 2023), consolidating Andorra as one of the economies with the highest per capita income in Europe.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-group fuentes-autoridad\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n\n<h3 class=\"wp-block-heading\">Official sources<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.estadistica.ad\/\" target=\"_blank\" rel=\"noopener noreferrer\">Comptes Nacionals \u2014 PIB i creixement econ\u00f2mic<\/a> \u2014 Departament d&#8217;Estad\u00edstica d&#8217;Andorra<\/li>\n<li><a href=\"https:\/\/www.estadistica.ad\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u00cdndex de Preus de Consum (IPC) Andorra<\/a> \u2014 Departament d&#8217;Estad\u00edstica<\/li>\n<li><a href=\"https:\/\/www.afa.ad\/\" target=\"_blank\" rel=\"noopener noreferrer\">Sistema financer andorr\u00e0 \u2014 bancs i actius<\/a> \u2014 Andorran Financial Authority<\/li><\/ul>\n\n<\/div><\/div>\n\n\n\n<script type=\"application\/ld+json\">{\n    \"@context\": \"https:\\\/\\\/schema.org\",\n    \"@type\": \"FAQPage\",\n    \"mainEntity\": [\n        {\n            \"@type\": \"Question\",\n            \"name\": \"\\u00bfCu\\u00e1l es el PIB de Andorra?\",\n            \"acceptedAnswer\": {\n                \"@type\": \"Answer\",\n                \"text\": \"Seg\\u00fan el Departament d'Estad\\u00edstica d'Andorra, el PIB andorrano supera los 3.300 millones de euros (datos 2023), con un PIB per c\\u00e1pita de aproximadamente 43.000 \\u20ac, comparable al de Alemania o Francia. 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Post-COVID, la recuperaci\\u00f3n andorrana fue especialmente r\\u00e1pida (+8,1 % en 2022) gracias al turismo de esqu\\u00ed y la residencia de n\\u00f3madas digitales y emprendedores europeos. Sin embargo, la dependencia del turismo hace la econom\\u00eda vulnerable a factores clim\\u00e1ticos y geopol\\u00edticos.\"\n            }\n        },\n        {\n            \"@type\": \"Question\",\n            \"name\": \"\\u00bfAfecta la inflaci\\u00f3n espa\\u00f1ola a los residentes en Andorra?\",\n            \"acceptedAnswer\": {\n                \"@type\": \"Answer\",\n                \"text\": \"Parcialmente. Andorra utiliza el euro pero no es miembro de la eurozona, por lo que aplica su propio IPC. Seg\\u00fan el Departament d'Estad\\u00edstica, la inflaci\\u00f3n andorrana en 2023 fue del 3,8 %, inferior a la espa\\u00f1ola (3,5 % media anual). El IGI al 4,5 % (frente al IVA del 21 % en Espa\\u00f1a) mantiene los precios de consumo m\\u00e1s bajos estructuralmente, especialmente en electr\\u00f3nica, combustible y alimentaci\\u00f3n.\"\n            }\n        }\n    ]\n}<\/script>\n\n\n\n<script type=\"application\/ld+json\">{\n    \"@context\": \"https:\\\/\\\/schema.org\",\n    \"@type\": \"WebPage\",\n    \"@id\": \"https:\\\/\\\/andorrainsiders.com\\\/crecimiento-economico-andorra-tasa-pib\\\/\",\n    \"speakable\": {\n        \"@type\": \"SpeakableSpecification\",\n        \"cssSelector\": [\n            \".entry-title\",\n            \".entry-content > p:first-of-type\",\n            \".entry-content h2\"\n        ]\n    }\n}<\/script>\n\n\n\n<script type=\"application\/ld+json\">{\n    \"@context\": \"https:\\\/\\\/schema.org\",\n    \"@type\": \"Article\",\n    \"@id\": \"https:\\\/\\\/andorrainsiders.com\\\/crecimiento-economico-andorra-tasa-pib\\\/#article\",\n    \"headline\": \"Crecimiento econ\\u00f3mico en Andorra: tasa de PIB\",\n    \"url\": \"https:\\\/\\\/andorrainsiders.com\\\/crecimiento-economico-andorra-tasa-pib\\\/\",\n    \"datePublished\": \"2023-03-28\",\n    \"dateModified\": \"2026-05-08\",\n    \"author\": {\n        \"@type\": \"Person\",\n        \"name\": \"Jose Sanchis\",\n        \"url\": \"https:\\\/\\\/andorrainsiders.com\\\/author\\\/insider\\\/\"\n    },\n    \"publisher\": {\n        \"@type\": \"Organization\",\n        \"name\": \"Andorra Insiders\",\n        \"url\": \"https:\\\/\\\/andorrainsiders.com\",\n        \"logo\": {\n            \"@type\": \"ImageObject\",\n            \"url\": \"https:\\\/\\\/andorrainsiders.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/andorra-insiders-logo.png\"\n        }\n    },\n    \"inLanguage\": \"es\",\n    \"mainEntityOfPage\": {\n        \"@type\": \"WebPage\",\n        \"@id\": \"https:\\\/\\\/andorrainsiders.com\\\/crecimiento-economico-andorra-tasa-pib\\\/\"\n    }\n}<\/script>\n\n\n\n<script type=\"application\/ld+json\">{\n    \"@context\": \"https:\\\/\\\/schema.org\",\n    \"@type\": \"BreadcrumbList\",\n    \"itemListElement\": [\n        {\n            \"@type\": \"ListItem\",\n            \"position\": 1,\n            \"name\": \"Inicio\",\n            \"item\": \"https:\\\/\\\/andorrainsiders.com\"\n        },\n        {\n            \"@type\": \"ListItem\",\n            \"position\": 2,\n            \"name\": \"Econom\\u00eda\",\n            \"item\": \"https:\\\/\\\/andorrainsiders.com\\\/category\\\/economia\\\/\"\n        },\n        {\n            \"@type\": \"ListItem\",\n            \"position\": 3,\n            \"name\": \"Crecimiento econ\\u00f3mico en Andorra: tasa de PIB\",\n            \"item\": \"https:\\\/\\\/andorrainsiders.com\\\/crecimiento-economico-andorra-tasa-pib\\\/\"\n        }\n    ]\n}<\/script>","protected":false},"excerpt":{"rendered":"<p>Economic growth in Andorra has finally been 8.8% in 2022, thus confirming the economic recovery after the covid pandemic. In a previous article we already explained that the IMF revised upward the growth forecasts for the Principality in 2022. At that time, the IMF estimated that Andorra would grow in 2022 by... <a title=\"Economic growth in Andorra: GDP rate\" class=\"read-more\" href=\"https:\/\/andorrainsiders.com\/en\/andorras-economic-growth-gdp-rate\/\" aria-label=\"Read more about Economic growth in Andorra: GDP rate\">Read more<\/a><\/p>","protected":false},"author":1,"featured_media":7474,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[381],"tags":[485,484,488,526,522,525,523],"class_list":["post-7129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economia","tag-crecimiento","tag-crecimiento-economico","tag-pib","tag-pib-nominal","tag-pib-per-capita","tag-pib-real","tag-tasa"],"_links":{"self":[{"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/posts\/7129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/comments?post=7129"}],"version-history":[{"count":9,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/posts\/7129\/revisions"}],"predecessor-version":[{"id":9812,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/posts\/7129\/revisions\/9812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/media\/7474"}],"wp:attachment":[{"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/media?parent=7129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/categories?post=7129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/tags?post=7129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}