About
ANDORRA
The Principality of Andorra is a state located in the heart of the Pyrenees
between Spain and France. It has a surface area of 468 sq.km. and a population
of 65,877 inhabitants.
The capital is Andorra la Vella. Andorra is divided into three valleys
forming a Y-shape, holding the Northern and Eastern Valira rivers which
join up to form the Great Valira and separated by mountain crests of a
considerable height. The average altitude of the Principality is 1996
m.
Economy
Tourism is the mainstay of Andorra's healthy economy. It accounts for
roughly 80% of GDP.
An estimated 9 million tourists visit annually, attracted by Andorra's
duty-free status and by its summer and winter resorts.
The banking sector, with its "tax haven" status, also contributes
substantially to the economy. Agricultural production is limited by a
scarcity of arable land, and most food has to be imported. The principal
livestock activity is sheep raising.
Manufacturing consists mainly of cigarettes, cigars, and furniture. Andorra
is a member of the EU Customs Union and is treated as an EU member for
trade in manufactured goods (no tariffs) and as a non-EU member for agricultural
products.
GDP: purchasing power parity - $1.2 billion (1996 est.)
GDP - real growth rate: NA%
GDP - per capita: purchasing power parity - $18,000 (1996 est.)
Exchange rates: euros per US$1 - 0.9867 (January 2000), 0.9386 (1999);
French francs (F) per US$1 - 5.65 (January 1999), 5.8995 (1998), 5.8367
(1997), 5.1155 (1996), 4.9915 (1995); Spanish pesetas (Ptas) per US$1
- 143.39 (January 1999), 149.40 (1998), 146.41 (1997), 126.66 (1996),
124.69 (1995)
Fiscal year: calendar year financial tools (FRA's, SWAPS) and intermediary
of financial actives in the main financial markets.
