Andorra economic growth

Andorra's economic growth

The field of service activities includes three big subsectors which form groups, in accordance with the European classification of economic activities: the subsector of trade, transport, hotel and catering and information, which has become, since the end of 2014, the main motor of the Andorran economy; the subsector of services, which groups together financial, real estate, professional and technical activities; and the public authorities subsector, with education, health, social and personal services.

In general terms, all the sectors have maintained a positive trend during the second quarter of 2019, except agriculture, which fell by 1.2%, and industry which was down by 4 tenths as against the first three months of the year. Percentage growth in the construction sector in the same period continued very positively, at 5.3%.

Since 2012, the economy has shown a sustained rate of recovery which, since the fourth quarter of 2014, has been accompanied by positive growth rates. This context means that we can be sure of the Principality’s good financial health and that the country is warranted as a place to keep in mind for new investment projects. If this is your intention, at IS21 we will advise you and help you in any of the possibilities that you may wish to undertake.