{"id":7129,"date":"2023-03-28T12:11:19","date_gmt":"2023-03-28T10:11:19","guid":{"rendered":"https:\/\/andorrainsiders.com\/?p=7129"},"modified":"2026-06-16T19:45:33","modified_gmt":"2026-06-16T17:45:33","slug":"crecimiento-economico-andorra-tasa-pib","status":"publish","type":"post","link":"https:\/\/andorrainsiders.com\/en\/andorras-economic-growth-gdp-rate\/","title":{"rendered":"Andorra&#039;s Economic Growth: GDP, Rate and Outlook"},"content":{"rendered":"<p>Andorra&#039;s GDP in 2024 was approximately <strong>3.7 billion euros<\/strong>with a growth of 2.11% compared to 2023 according to the Department of Statistics. The Andorran economy is based on retail trade (351%), tourism (251%), and financial services (201%). <strong>80,000 daily visitors<\/strong> During peak season, with over 10 million visitors annually, tourism is the main driver of the economy. This guide analyzes GDP growth rates, the economic structure, and the outlook for 2025-2026.<\/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 Key data (2025\u20132026)<\/h4>\n\n\n<ul class=\"wp-block-list\"><li>Andorra&#039;s GDP 2024: <strong>&gt;\u20ac3.3 billion<\/strong> <em>(Andorra Department of Statistics)<\/em><\/li><li>GDP per capita: ~<strong>\u20ac43,000\/inhabitant<\/strong> \u2014 world top 20 <em>(IMF, 2024)<\/em><\/li><li>Real GDP growth rate 2024: <strong>+2,8 %<\/strong> <em>(IMF Article IV, 2024)<\/em><\/li><li>Annual visitors: <strong>&gt;8 million<\/strong> \u2014 100x the population <em>(Turisme d&#039;Andorra, 2024)<\/em><\/li><li>Services sector: <strong>>80 %<\/strong> of GDP; tourism and trade: &gt;20 % of GDP<\/li><\/ul>\n\n<\/div><\/div>\n\n\n\n<p class=\"ultima-actualizacion\"><strong>Last update:<\/strong> June 2026. The information in this article is regularly checked against official sources from the Government of 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\">Department of Statistics<\/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\n<div class=\"wp-block-group datos-estadisticos-andorra\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n\n<h3 class=\"wp-block-heading\">Key facts and figures (2025-2026)<\/h3>\n\n\n<ul class=\"wp-block-list\"><li><strong>Andorra GDP 2024 (estimated):<\/strong> \u22483.7 billion \u20ac<\/li><li><strong>GDP growth 2024:<\/strong> 2,1%<\/li><li><strong>GDP per capita (2024):<\/strong> \u2248\u20ac47,000\/person<\/li><li><strong>Annual tourists (2024):<\/strong> \u224810.5 million<\/li><li><strong>Unemployment rate (2024):<\/strong> 2,8%<\/li><\/ul>\n\n\n<p style=\"font-size:0.8em;color:#6b7280\">Fountain: <a href=\"https:\/\/www.estadistica.ad\" rel=\"noopener noreferrer\" target=\"_blank\">Department of Statistics of Andorra<\/a> Y <a href=\"https:\/\/www.govern.ad\" rel=\"noopener noreferrer\" target=\"_blank\">Government of Andorra<\/a>, 2025.<\/p>\n\n<\/div><\/div>\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\">National Comptes \u2014 GDP and economic growth<\/a> \u2014 Department of Statistics of Andorra<\/li>\n<li><a href=\"https:\/\/www.estadistica.ad\/\" target=\"_blank\" rel=\"noopener noreferrer\">Consumer Price Index (CPI) Andorra<\/a> \u2014 Department of Statistics<\/li>\n<li><a href=\"https:\/\/www.afa.ad\/\" target=\"_blank\" rel=\"noopener noreferrer\">Andorr\u00e0 financial system \u2014 bancs i actius<\/a> \u2014 Andorran Financial Authority<\/li><\/ul>\n\n<\/div><\/div>\n\n\n\n\n\n<div class=\"wp-block-group articulos-relacionados\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<h3 class=\"wp-block-heading\">Related articles<\/h3>\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/andorrainsiders.com\/en\/andorras-economic-growth-gdp-rate\/\">GDP and economic growth of Andorra<\/a><\/li>\n<li><a href=\"https:\/\/andorrainsiders.com\/en\/taxes-types-rates\/\">Andorran taxation: advantages for investors<\/a><\/li>\n<li><a href=\"https:\/\/andorrainsiders.com\/en\/open-and-set-up-a-business-in-andorra\/\">How to open a business in Andorra<\/a><\/li>\n<li><a href=\"https:\/\/andorrainsiders.com\/en\/andorra-european-union-relations-agreement\/\">Andorra and the EU<\/a><\/li>\n<\/ul>\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    \"keywords\": \"PIB Andorra, creixement econ\\u00f2mic Andorra, economia Andorra 2026, FMI Andorra\",\n    \"about\": [\n        {\n            \"@type\": \"Thing\",\n            \"name\": \"Producte Interior Brut Andorra\"\n        },\n        {\n            \"@type\": \"Thing\",\n            \"name\": \"Departament d'Estad\\u00edstica\",\n            \"url\": \"https:\\\/\\\/www.estadistica.ad\\\/\"\n        },\n        {\n            \"@type\": \"Thing\",\n            \"name\": \"FMI Andorra\",\n            \"url\": \"https:\\\/\\\/www.imf.org\\\/\"\n        }\n    ],\n    \"citation\": [\n        {\n            \"@type\": \"CreativeWork\",\n            \"url\": \"https:\\\/\\\/www.estadistica.ad\\\/\",\n            \"name\": \"PIB i creixement econ\\u00f2mic Andorra \\u2014 Departament d'Estad\\u00edstica\",\n            \"author\": {\n                \"@type\": \"Organization\",\n                \"name\": \"Departament d'Estad\\u00edstica\"\n            }\n        },\n        {\n            \"@type\": \"CreativeWork\",\n            \"url\": \"https:\\\/\\\/www.imf.org\\\/\",\n            \"name\": \"FMI \\u2014 Informe sobre Andorra 2025\",\n            \"author\": {\n                \"@type\": \"Organization\",\n                \"name\": \"Fons Monetari Internacional\"\n            }\n        },\n        {\n            \"@type\": \"CreativeWork\",\n            \"url\": \"https:\\\/\\\/www.govern.ad\\\/finances\",\n            \"name\": \"Ministeri de Finances Andorra \\u2014 Estad\\u00edstiques macroecon\\u00f2miques\",\n            \"author\": {\n                \"@type\": \"Organization\",\n                \"name\": \"Govern d'Andorra\"\n            }\n        }\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>Andorra&#039;s GDP in 2024 was approximately \u20ac3.7 billion, representing a 2.11% increase compared to 2023, according to the Department of Statistics. The Andorran economy is based on retail trade (\u20ac35.1%), tourism (\u20ac25.1%), and financial services (\u20ac20.1%). With 80,000 daily visitors during peak season and over 10 million\u2026 <a title=\"Andorra&#039;s Economic Growth: GDP, Rate and Outlook\" class=\"read-more\" href=\"https:\/\/andorrainsiders.com\/en\/andorras-economic-growth-gdp-rate\/\" aria-label=\"Read more about Andorra&#039;s Economic Growth: GDP, Rate and Outlook\">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":15,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/posts\/7129\/revisions"}],"predecessor-version":[{"id":10888,"href":"https:\/\/andorrainsiders.com\/en\/wp-json\/wp\/v2\/posts\/7129\/revisions\/10888"}],"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}]}}