Flag description: three equal vertical bands of blue (hoist side), yellow, and red with the national coat of arms centered in the yellow band; the coat of arms features a quartered shield; similar to the flags of Chad and Romania, which do not have a national coat of arms in the center, and the flag of Moldova, which does bear a national emblem
Andorra Economy
Economy - overview: Tourism, the mainstay of Andorra's tiny, well-to-do economy, accounts for roughly 80% of GDP. An estimated 9 million tourists visit annually, attracted by Andorra's duty-free status and by its summer and winter resorts. Andorra's comparative advantage has recently eroded as the economies of neighboring France and Spain have been opened up, providing broader availability of goods and lower tariffs. The banking sector, with its "tax haven" status, also contributes substantially to the economy. Agricultural production is limited by a scarcity of arable land, and most food has to be imported. The principal livestock activity is sheep raising. Manufacturing output consists mainly of cigarettes, cigars, and furniture. Andorra is a member of the EU Customs Union and is treated as an EU member for trade in manufactured goods (no tariffs) and as a non-EU member for agricultural products.
GDP: purchasing power parity - $1.2 billion (1996 est.)
GDP - real growth rate: NA%
GDP - per capita: purchasing power parity - $18,000 (1996 est.)
GDP - composition by sector: agriculture: NA%
industry: NA%
services: NA%
Population below poverty line: NA%