Andorra is very open to international trade. Manufacturing output and exports consist mainly of electronic integrated circuits and microassemblies, motor cars and vehicles, orthopedic appliances and automatic data processing machines. Motor cars and other motor vehicles are the main item of imports, followed by petroleum products, perfumes and alcoholic beverages. Although Andorra is not a member of the European Union, the principality is treated as an EU member in regards to trade of manufactured goods (no customs duties), but not for agricultural products. Andorra’s partnership with the European Union is regulated by a commercial treaty, which was signed on 28 June 1990, establishing a Customs Union for industrial products and outlining special provisions for agricultural commodities. The treaty has turned Andorra into an important international hub for the retail industry and attracts millions of shoppers from all over Europe.
According to data from the National Department of Statistics, the main destinations for Andorra’s exports in 2021 were Spain, France and the United Kingdom, accounting for respectively 52.9%, 14.5% and 5.6% of total exports; with imports coming chiefly from Spain (65%), France (10.7%), Germany (5.4%), and Italy (3.8%).
In 2021, Andorra exported goods worth EUR 140.8 million, whereas imports stood at EUR 1.3 billion, resulting in a negative trade balance of EUR 1.18 billion (National Department of Statistics).
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 |
---|---|---|---|---|
Exports of Goods (million USD) | 42 | 129 | 126 | 117 |
Source: World Bank - Latest available data.
Main Customers (% of Exports) |
2018 |
---|---|
Spain | 61.7% |
France | 18.3% |
Norway | 3.7% |
Austria | 2.3% |
Hong Kong SAR, China | 2.0% |
Netherlands | 1.9% |
Italy | 1.1% |
United Arab Emirates | 0.9% |
Germany | 0.8% |
Kuwait | 0.6% |
Switzerland | 0.6% |
Lebanon | 0.5% |
China | 0.5% |
Belgium | 0.4% |
Israel | 0.3% |
United Kingdom | 0.3% |
Honduras | 0.2% |
Luxembourg | 0.2% |
Russia | 0.2% |
Sweden | 0.2% |
See More Countries | 12.1% |
Main Suppliers (% of Imports) |
2018 |
---|---|
Spain | 64.2% |
France | 13.2% |
China | 3.6% |
Italy | 3.6% |
Germany | 3.4% |
United Kingdom | 1.5% |
Switzerland | 1.3% |
Portugal | 0.9% |
Netherlands | 0.9% |
Austria | 0.8% |
Poland | 0.6% |
Vietnam | 0.5% |
Bangladesh | 0.4% |
Turkey | 0.4% |
Japan | 0.4% |
Belgium | 0.3% |
India | 0.3% |
Cuba | 0.2% |
South Korea | 0.2% |
Luxembourg | 0.2% |
See More Countries | 11.9% |
Source: Comtrade, Latest Available Data
Source: Comtrade, Latest Available Data
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Member of Organization for Security and Cooperation in Europe (OSCE)
Member of EU Customs Union
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Latest Update: April 2022
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