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2023
Product
Exports | Imports $253M | $1.96B180 of 226 |  166 of 226
2023
Per Capita Product
Exports | Imports $3.13k | $24.3k79 of 220 |  57 of 220

About

Overview In 2023 Andorra was the number 180 economy in the world in terms of total exports and the number 166 in total imports.

Exports The top exports of Andorra are Paintings ($50.9M), Integrated Circuits ($44M), Cars ($31.3M), Orthopedic Appliances ($18M), and Cigarette Paper ($6.97M), exporting mostly to Spain ($99.1M), United States ($53.2M), France ($27.4M), United Kingdom ($12.1M), and United Arab Emirates ($6.85M).

Imports The top imports of Andorra are Cars ($201M), Refined Petroleum ($118M), Perfumes ($58.2M), Electricity ($44.9M), and Hard Liquor ($38.4M), importing mostly from Spain ($1.28B), France ($214M), Germany ($84.3M), China ($62.9M), and Italy ($61.4M).

Location Andorra borders France and Spain by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Andorra.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Paintings$50.9M
Top Destination (2023)Spain$99.1M

In 2023, Andorra exported a total of $253M, making it the number 180 exporter in the world. During the last five reported years the exports of Andorra have changed by $92.2M from $161M in 2018 to $253M in 2023.

The most recent exports are led by Paintings ($50.9M), Integrated Circuits ($44M), Cars ($31.3M), Orthopedic Appliances ($18M), and Cigarette Paper ($6.97M). The most common destination for the exports of Andorra are Spain ($99.1M), United States ($53.2M), France ($27.4M), United Kingdom ($12.1M), and United Arab Emirates ($6.85M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
United States$43.4M (+ 442%)
Turkey$3.76M (+ 8.17k%)
France$2.77M (+ 11.2%)
Fastest Growing Import Markets (2022 - 2023)
Spain$58.3M (+ 4.78%)
Chinese Taipei$8.41M (+ 91.3%)
Austria$7.84M (+ 99.8%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Andorra has a high level of specialization in Cigarette Paper (249), Paintings (234), Bicycles, delivery tricycles, other cycles (50), Other Headwear (35.4), and Precious Metal Watches (25.4). Specialization is measured using RCA, an index that takes the ratio between Andorra observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Andorra according to the relatedness index, were Knitted Hats (0.14), Hard Liquor (0.14), Passenger and Cargo Ships (0.14), Non-Knit Men's Shirts (0.13), and Precious Metal Scraps (0.13). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Andorra is not specialized in.

Product Space

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 a country currently specializes in.

Relatedness Space

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.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Diversification Frontier

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