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Andorra - Economy |  | Andorra - Economy: Encyclopedia II - Andorra - Economy |  | Main article: Economy of Andorra
Tourism, the mainstay of Andorra's tiny, well-to-do economy, 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. Andorra's comparative advantage has recently eroded as the economies of adjoining France and Spain have been opened up, providing broader avail ...
See also:Andorra, Andorra - Origin and history of the name, Andorra - History, Andorra - Politics, Andorra - Administrative Divisions, Andorra - Geography, Andorra - Economy, Andorra - Demographics, Andorra - Culture, Andorra - Folklore, Andorra - Miscellaneous topics |  | | Andorra, Andorra - Administrative Divisions, Andorra - Culture, Andorra - Demographics, Andorra - Economy, Andorra - Folklore, Andorra - Geography, Andorra - History, Andorra - Miscellaneous topics, Andorra - Origin and history of the name, Andorra - Politics, List of sovereign states |  | |
|  |  | Andorra: Encyclopedia II - Andorra - Economy
Andorra - Economy
Main article: Economy of Andorra
Tourism, the mainstay of Andorra's tiny, well-to-do economy, 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. Andorra's comparative advantage has recently eroded as the economies of adjoining France and Spain have been opened up, providing broader availability of goods and lower tariffs.
The banking sector, with its 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 domestic sheep raising. Manufacturing output consists mainly of cigarettes, cigars, and furniture.
Andorra is not a full member of the European Union, but enjoys a special relationship with it, such as being treated as an EU member for trade in manufactured goods (no tariffs) and as a non-EU member for agricultural products. Andorra lacks a currency of its own and uses that of its two surrounding nations. Prior to 1999 these were the French franc and the Spanish peseta, which have since been replaced by a single currency, the euro. Unlike other small European states that use the euro, Andorra does not yet mint its own euro coins; in October 2004, negotiations between Andorra and the EU began on an agreement which would allow Andorra to mint its own coins.
Other related archives11th century, 1934, Agricultural, Albert Pintat, Andalusia, Andorra (play), Andorra la Vella, Boris Skossyreff, Canillo, Catalan, Catalonia, Catholic, Charlemagne, Civil unions in Andorra, Communications in Andorra, Comune di Andora, Constitution of Andorra, Culture of Andorra, Demographics of Andorra, EU, Economy of Andorra, Encamp, Engl., Escaldes-Engordany, Europe, European Union, Foreign relations of Andorra, France, French, French franc, GDP, General Council of the Valleys, Geography of Andorra, Germany, Head of Government, Henry IV, History of Andorra, Jacques Chirac, Joan Enric Vives i Sicilia, July 12, July 20, La Massana, La Seu d'Urgell, Liberal Party of Andorra, List of Andorrans, List of Co-Princes of Andorra, List of sovereign states, Manufacturing, Max Frisch, Moors, Music of Andorra, Navarre, Navarrese, Netherlands, Ordino, Parishes of Andorra, Politics of Andorra, Portuguese, Postal services in Andorra, President of France, Prime Minister, Pyrenees, Roman Catholicism, Sant Julià de Lòria, Social Democratic Party (Andorra), Spain, Spaniards, Spanish, Spanish Civil War, Tourism, Transportation in Andorra, Treaty of Versailles, Valira, autonomous region, banking, bishop, cabinet, climate, constitution, count of Foix, count of Urgell, currency, diocese, domestic sheep, euro, euro coins, executive, folk tales, head of government, heads of state, history, judicial, landlocked, legislative, mythology, parage, parliament, peseta, princes, principality, tariffs, tax haven, temperate climate, tourism, tourist, unicameral
 Adapted from the Wikipedia article "Economy", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki |
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