Andorra
2021 Product Exports | Imports: $110M | $1.55B, 196 of 226 | 172 of 226
2021 Per Capita Product Exports | Imports: $1.43k | $20.1k, 111 of 219 | 50 of 219
Overview In 2021 Andorra was the number 196 economy in the world in terms of total exports and the number 172 in total imports.
Exports The top exports of Andorra are Integrated Circuits ($19.4M), Orthopedic Appliances ($15.2M), Cars ($11.1M), Raw Sugar ($6.92M), and Gold ($5.55M), exporting mostly to Spain ($33.7M), France ($19.2M), United States ($8.12M), Nigeria ($7.72M), and United Arab Emirates ($6.52M).
Imports The top imports of Andorra are Cars ($215M), Refined Petroleum ($82.2M), Electricity ($40.7M), Packaged Medicaments ($37.7M), and Beauty Products ($35.7M), importing mostly from Spain ($1.09B), France ($250M), Germany ($74.9M), Italy ($30.7M), and Netherlands ($19.1M).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe 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.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe 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.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2021): Integrated Circuits, $19.4M
Top Destination (2021): Spain, $33.7M
In 2021, Andorra exported a total of $110M, making it the number 196 exporter in the world. During the last five reported years the exports of Andorra have changed by -$42.5M from $153M in 2016 to $110M in 2021.
The most recent exports are led by Integrated Circuits ($19.4M), Orthopedic Appliances ($15.2M), Cars ($11.1M), Raw Sugar ($6.92M), and Gold ($5.55M). The most common destination for the exports of Andorra are Spain ($33.7M), France ($19.2M), United States ($8.12M), Nigeria ($7.72M), and United Arab Emirates ($6.52M).
Market Growth
#permalink to sectionEconomic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionAndorra has a high level of specialization in Cigarette Paper (232), Essential Oils (134), Collector's Items (98.7), Wind Instruments (65), and Raw Sugar (46.7). 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 sectionThe highest complexity exports of Andorra according to the product complexity index (PCI) are Blank Audio Media (1.79), Interchangeable Tool Parts (1.67), Chemical Analysis Instruments (1.65), Integrated Circuits (1.45), and Tungsten (1.43). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Andorra according to the relatedness index, were Hard Liquor (0.12), Knit Men's Shirts (0.11), Scrap Aluminium (0.11), Jewellery (0.11), and Non-Knit Men's Shirts (0.11). 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
#permalink to sectionThe 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.
Diversification Frontier
#permalink to sectionThe 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.
