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Andorra: Economic Outline

Economic Indicators

Highly dependent on foreign trade, the Andorran economy was greatly affected by the world crisis. The growth rate reached 2.6% in 2008 according to estimates.

The Andorran economy is currently diversifying and it concentrates on offering services mainly related to tourism, trade, real estate and finance. In order to motivate diversification and growth, the government of Andorra has established a strategic economic reform plan, which sets up a modern, transparent and internationally recognized regulator frame. A series of laws intended to revitalize investment and develop a business network have also been adopted. These measures are specified in the new law codes for companies, accounting and foreign investment.

With an income per capita higher than the European average and the highest rate of life expectancy in the world, Andorra also enjoys a safe urban environment, a well-developed healthcare system, as well as a trilingual education system (Andorran, French and Spanish). Due to the crisis, a large number of Andorrans have however lost their jobs and the country experienced a certain social malaise.

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Last Updates: January 2012