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Pricing

2022
Product
Exports | Imports $407M | $1.84B174 of 226 |  166 of 226
2022
Per Capita Product
Exports | Imports $5.1k | $23k64 of 220 |  19 of 220

About

Overview In 2022 Andorra was the number 174 economy in the world in terms of total exports and the number 166 in total imports.

Exports The top exports of Andorra are Paintings ($211M), Integrated Circuits ($45.7M), Cars ($26.9M), Orthopedic Appliances ($16.1M), and Gold ($6.45M), exporting mostly to Spain ($297M), France ($25.5M), United Kingdom ($13.5M), United States ($9.8M), and Germany ($7.25M).

Imports The top imports of Andorra are Cars ($155M), Refined Petroleum ($135M), Electricity ($75.7M), Beauty Products ($42.5M), and Perfumes ($41.2M), importing mostly from Spain ($1.22B), France ($215M), Germany ($77.8M), China ($56M), and Italy ($54.2M).

Location Andorra borders France and Spain by land.

Latest Trends

Latest Trade

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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 (2022)Paintings$211M
Top Destination (2022)Spain$297M

In 2022, Andorra exported a total of $407M, making it the number 174 exporter in the world. During the last five reported years the exports of Andorra have changed by $242M from $165M in 2017 to $407M in 2022.

The most recent exports are led by Paintings ($211M), Integrated Circuits ($45.7M), Cars ($26.9M), Orthopedic Appliances ($16.1M), and Gold ($6.45M). The most common destination for the exports of Andorra are Spain ($297M), France ($25.5M), United Kingdom ($13.5M), United States ($9.8M), and Germany ($7.25M).

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Exports (2022)
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Destinations (2022)
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Market Growth

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Growth
Fastest Growing Export Markets (2021 - 2022)
Spain$208M (+ 233%)
Germany$3.4M (+ 88.4%)
United Kingdom$3.34M (+ 32.8%)
Fastest Growing Import Markets (2021 - 2022)
Spain$200M (+ 19.7%)
France$45.9M (+ 27.1%)
China$13.9M (+ 33.1%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Andorra has a high level of specialization in Paintings (672), Cigarette Paper (79.6), Essential Oils (34.4), Other Headwear (22.6), and Wind Instruments (19.5). 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

The highest complexity exports of Andorra according to the product complexity index (PCI) are Instruments and apparatus; for physical or chemical analysis (e.g. polarimeters, spectrometers), for... (1.68), Engravings, prints and lithographs; original (1.62), Electronic integrated circuits (1.46), Musical instruments; wind (e.g. keyboard pipe organs, accordions, clarinets, trumpets, bagpipes), other... (1.39), and Book-binding machinery; including book-sewing machines (1.2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Andorra according to the relatedness index, were Hard Liquor (0.098), Precious Metal Scraps (0.095), Scrap Aluminium (0.095), Surveying Equipment (0.09), and Rolled Tobacco (0.089). 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 (2022)

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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