• GDP: US$1.3 billion (2003).
• Main exports: Tobacco, furniture and leather goods.
• Main imports: Electricity, fuels, food and consumer goods.
• Main trade partners: France and Spain.

Andorra’s status as a low tax and duty free zone has led to the development of a major trade in consumer goods. This trade, along with tourism and, more recently, financial services, are now the major components of the Andorran economy. There is a small but thriving agricultural sector farming potatoes, tobacco and livestock. There is also a small mining industry exploiting deposits of lead, iron and alum. The country’s hydroelectric power plant supplies about a quarter of domestic needs; Andorra is dependent on imports of electricity and other fuels from France and Spain. Andorra’s main trading partners are neighbouring France and Spain. In 1997, the country opened negotiations to join the World Trade Organization. In June 2000, Andorra was identified by the Organization for Economic Cooperation and Development (OECD) – the world’s 30 largest economies – as one of 35 ’tax havens’ whose financial laws are believed to encourage large-scale tax evasion and money-laundering. By March 2002, all but seven of the 35 had introduced measures to meet the OECD demands – Andorra was one of the seven and could now be subject to economic and financial sanctions.

Suits are recommended at all times with white shirt and black shoes. Prior appointments are necessary and meetings tend to be formal. Punctuality is important. Lunch is usually after 1330 and can extend through the afternoon. Although English is quite widely spoken, a knowledge of Spanish/Catalan or French is very useful. Office hours: Mon-Fri 0800-1700. Some offices open Mon-Fri 0800-1500 (summer only).

Chamber of Commerce, Industry and Services
c/ Prat de la Creu, 8, Andorra la Vella - CP: AD500, Andorra
Tel: 809 292.
Website: www.ccis.ad

Centre de Congressos i Exposicions (Information on Conferences/Conventions)
Plaça Poble, Andorra la Vella, Andorra
Tel: 861 131.