About ANDORRA
Andorra offshore banks



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.

Once isolated, it is currently a prosperous country mainly because of tourism and its status as a tax haven. The people of Andorra are currently listed as having the second highest human life expectancy in the world, at an average of 83 years at birth (2008 est). Andorra is the sixth smallest nation in Europe.

Economy
Tourism, the mainstay of Andorra's tiny, well-to-do economy, accounts for more than 80% of GDP. An estimated 11.6 million tourists visit annually, attracted by Andorra's duty-free status and by its summer and winter resorts.

Andorra's comparative advantage has recently eroded as the economies of neighboring France and Spain have been opened up, providing broader availability of goods and lower tariffs. The banking sector, with its partial "tax haven" status, also contributes substantially to the economy.

Agricultural production is limited - only 2% of the land is arable - and most food has to be imported. The principal livestock activity is sheep raising. Manufacturing output 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: $2.77 billion (2005)
GDP - per capita: purchasing power parity - $38,800 (2005)

Currency:
euros (EUR) per US dollar - 0.6734 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004)