Overview In 2019 Andorra was the number 158 economy in the world in terms of GDP (current US$), the number 190 in total exports, the number 169 in total imports, the number 25 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Andorra are Integrated Circuits ($26.9M), Orthopedic Appliances ($10.4M), Essential Oils ($9.15M), Cars ($7.91M), and Tanned Equine and Bovine Hides ($7.45M), exporting mostly to Spain ($43.9M), France ($21.5M), United States ($12.2M), Mauritania ($5.3M), and Netherlands ($4.39M).

Imports The top imports of Andorra are Cars ($134M), Refined Petroleum ($94.3M), Perfumes ($40.6M), Shaving Products ($35.7M), and Hard Liquor ($34.2M), importing mostly from Spain ($1.05B), France ($249M), Germany ($49.5M), Italy ($26.1M), and Netherlands ($19.8M).

Location Andorra borders France and Spain by land.

Historical Data

#permalink to section

Yearly Exports

#permalink to section
Value
Compare to
Depth

Top Export (2019): Integrated Circuits, $26.9M

Top Destination (2019): Spain, $43.9M

In 2019, Andorra exported a total of $111M, making it the number 190 exporter in the world. During the last five reported years the exports of Andorra have changed by -$306M from $417M in 2014 to $111M in 2019.

The most recent exports are led by Integrated Circuits ($26.9M), Orthopedic Appliances ($10.4M), Essential Oils ($9.15M), Cars ($7.91M), and Tanned Equine and Bovine Hides ($7.45M). The most common destination for the exports of Andorra are Spain ($43.9M), France ($21.5M), United States ($12.2M), Mauritania ($5.3M), and Netherlands ($4.39M).

Explore Visualizations

Yearly Imports

#permalink to section
Value
Compare to
Depth

Top Import (2019): Cars, $134M

Top Origin (2019): Spain, $1.05B

In 2019 Andorra imported $1.47B, making it the number 169 trade destination in the world. During the last five reported years the imports of Andorra changed by -$220M from $1.69B in 2014 to $1.47B in 2019.

The most recent imports of Andorra are led by Cars ($134M), Refined Petroleum ($94.3M), Perfumes ($40.6M), Shaving Products ($35.7M), and Hard Liquor ($34.2M). The most common import partners for Andorra are Spain ($1.05B), France ($249M), Germany ($49.5M), Italy ($26.1M), and Netherlands ($19.8M).

Explore Visualizations

Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Economic Complexity

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

Andorra has a high level of specialization in Tanned Goat Hides (312), Essential Oils (237), Leather of Other Animals (210), Postage Stamps (126), and Tanned Equine and Bovine Hides (79.4). Specialization is measured using RCA, an index that takes the ratio between Andorra observed and expected exports in each product.

Most Complex Products by PCI

#permalink to section

The highest complexity exports of Andorra according to the product complexity index (PCI) are Prepared unrecorded sound recording media (non-photo) (1.74), Fork-lift trucks, other trucks with lifting equipment (1.67), Electronic integrated circuits and microassemblies (1.45), Chain and parts thereof, of iron or steel (1.44), and Artificial filament tow (1.31). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Andorra according to the relatedness index, are Precious Metal Scraps (0.13), Recreational Boats (0.13), Rolled Tobacco (0.13), Hard Liquor (0.12), and Scrap Lead (0.12). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Andorra is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

#permalink to section

This network shows the products most related to the production structure of Andorra. These are products that tend to be co-exported with the products that Andorra exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

#permalink to section
Filter
Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.