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For 715 years, from 1278 to 1993, Andorrans lived under a unique co-principality, ruled by French and Spanish leaders (from 1607 onward, the French chief of state and the Spanish bishop of Urgel). In 1993, this feudal system was modified with the titular heads of state retained, but the government transformed into a parliamentary democracy. Long isolated and impoverished, mountainous Andorra achieved considerable prosperity since World War II through its tourist industry. Many immigrants (legal and illegal) are attracted to the thriving economy with its lack of income taxes.
15-64 years: 71.4% (male 31,545/female 29,037)
65 years and over: 13% (male 5,502/female 5,502) (2011 est.)
conventional short form: Andorra
local long form: Principat d’Andorra
local short form: Andorra
geographic coordinates: 42 30 N, 1 31 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
female: 347 (2010 est.)
Tourism, the mainstay of Andorra’s tiny, well-to-do economy, accounts for more than 80% of GDP. An estimated 11.6 million tourist’s 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 neighbouring 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 rising. 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.
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