Andorra

For 715 years, from 1278 to 1993, Andorrans lived under a unique co-principality, ruled by French and Spanish leaders (from 1607 onward, the French chief of state and the Spanish bishop of Seu d'Urgell). In 1993, this feudal system was modified with the titular heads of state retained, but the government transformed into a parliamentary democracy. For decades Andorra enjoyed its status as a small refuge of fiscal and banking freedom and benefitted from Spanish and French tourists attracted to the country's duty-free shopping. The situation has changed in recent years as Andorra started to tax foreign investment and other sectors. Tourism accounts for over 80% of Andorra's gross domestic product.

Economical characteristics

• Currency: Euro (ISO code: EUR)
• This country does not seem to have a central bank.

Statistics

Statistic / Year	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008
GDP (million USD)	1 240	1 134	1 265	1 456	1 918	2 322	2 540	2 824	3 245
Govt. debt (% of GDP)
Govt. revenue (% of GDP)
Govt. expenses (% of GDP)
Debt to revenue (years)

References

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

External links

• Andorra on Wikipedia
• BBC country profile