Country profile
Andorra
Europe & Central Asia · High income · Capital: Andorra la Vella
Key figures, 2024
FDI inflows 2024
$268 m
Inflows % of GDP
6.6%
FDI outflows
$118 m
Net FDI
$150 m
FDI % of investment
—
In 2024, Andorra recorded FDI net inflows of $268 m, down 3% from $276 m in 2023. That is 35% below its 2019–2023 average of $410 m. By value, that ranks 131st of 195 economies with data for 2024. Inflows peaked at $594 m in 2022 (data begin in 2019). Inflows were equivalent to 6.6% of GDP in 2024 — above the Europe & Central Asia aggregate (0.7%) and above the world as a whole (1.4%).
About this summary
Generated automatically from World Bank data. Figures are balance-of-payments net flows in current US$; 2024 is the latest year with broad coverage across economies.Trends
FDI flows over time
Net flows, current US$ (balance-of-payments basis)
- Inflows
- Outflows
Source: World Bank, World Development Indicators (CC BY 4.0). Indicators BX.KLT.DINV.CD.WD and BM.KLT.DINV.CD.WD.
Andorra compared with its region and the world
- Andorra
- Europe & Central Asia (aggregate)
- World
Source: World Bank, World Development Indicators (CC BY 4.0). Indicator BX.KLT.DINV.WD.GD.ZS.
FDI vs remittances, aid and portfolio equity, current US$
- FDI inflows
- Remittances
- Portfolio equity
FDI is only one of the ways foreign money reaches an economy. For many developing economies, remittances from workers abroad or official aid are larger and more stable; portfolio equity is typically the most volatile.
Source: World Bank, World Development Indicators (CC BY 4.0). Indicators BX.KLT.DINV.CD.WD, BX.TRF.PWKR.CD.DT, DT.ODA.ODAT.CD, BX.PEF.TOTL.CD.WD.
Economy at a glance
The economy behind the investment
The macroeconomic, trade and workforce indicators investors and trade officials look at alongside FDI — latest year, 15-year trend and regional and world benchmarks.
| IMF World Economic Outlook | 2024 | 2025 | 2026forecast | 2027forecast | 2028forecast |
|---|---|---|---|---|---|
| Real GDP growth | 3.8% | 3.9% | 2.1% | 1.8% | 1.7% |
| Inflation | 3.1% | 2.4% | 3.0% | 2.3% | 2.0% |
| Unemployment rate | 1.5% | 1.1% | 1.1% | 1.1% | 1.2% |
| Current account, % GDP | 15.9% | 15.9% | 16.0% | 16.0% | 16.1% |
| Fiscal balance, % GDP | 2.8% | 3.5% | 2.2% | 1.9% | 1.9% |
| Government gross debt, % GDP | 32.9% | 30.3% | 28.0% | 26.9% | 26.3% |
Source: IMF World Economic Outlook via the IMF DataMapper API. Years from 2026 are IMF projections; recent years may be estimates and are revised in each WEO round (April and October).
Size & growth
GDP
$4.5 bn2025
157th of 186
GDP per capita
$54,2922025
22nd of 186Region $34,603World $14,406
GNI per capita (PPP)
$80,9502025
13th of 181Region $53,745World $25,517
Population
83 k2025
197th of 217
Population growth
1.2%2025
91st of 217Region 0.4%World 0.9%
Trade & structure
Manufacturing, % of GDP
3.1%2024
162nd of 178Region 13.6%World 14.9%
Services, % of GDP
77.8%2025
4th of 158Region 65.5%World 63.3%
High-tech exports, % of manufactured exports
21.4%2023
27th of 160Region 20.2%World 23.0%
Workforce & innovation
R&D expenditure, % of GDP
0.2%2022
69th of 84Region 2.1%World 2.6%
Internet users, % of population
94.4%2024
30th of 182Region 90.9%World 71.2%
Source: World Bank, World Development Indicators. Latest available year shown for each indicator; ranks are among economies reporting that year (highest = 1st). Region = World Bank regional aggregate. Growth, inflation, unemployment, the current account and government debt are shown in the IMF table above where the IMF covers the economy.
Who invests
Source and destination economies
Direct investment positions (stocks) by immediate counterpart economy, as reported to the OECD.
No bilateral positions for this economy
Structure & policy
Sectors and FDI openness
Inward FDI positions by sector
No sector breakdown
FDI Regulatory Restrictiveness
IndexNot covered by the index
Peers
Similar-sized economies in Europe & Central Asia
The six economies in the same World Bank region with the closest GDP, ranked by FDI inflows as a share of GDP (2024).
- 🇲🇪Montenegro7.2%
- 🇦🇩Andorra6.6%
- 🇸🇲San Marino(2023)−0.9%
- 🇱🇮Liechtenstein(2018)−1303.1%
Sources & notes
World Bank, World Development Indicators
- FDI net inflows —
BX.KLT.DINV.CD.WD - FDI net outflows —
BM.KLT.DINV.CD.WD - FDI net inflows, % of GDP —
BX.KLT.DINV.WD.GD.ZS - Gross fixed capital formation —
NE.GDI.FTOT.CD - Personal remittances received —
BX.TRF.PWKR.CD.DT - Net official development assistance received —
DT.ODA.ODAT.CD - Portfolio equity net inflows —
BX.PEF.TOTL.CD.WD - Real GDP growth —
NY.GDP.MKTP.KD.ZG - Inflation (annual average) —
FP.CPI.TOTL.ZG - Unemployment rate —
SL.UEM.TOTL.ZS - Current account balance, % of GDP —
BN.CAB.XOKA.GD.ZS - Exports of goods & services —
NE.EXP.GNFS.CD - Central government debt, % of GDP —
GC.DOD.TOTL.GD.ZS
OECD: FDI statistics by partner economy and by industry (Benchmark Definition, 4th edition) and the FDI Regulatory Restrictiveness Index.
Flows vs positions. Charts on this page show annual balance-of-payments flows. Bilateral and sector figures are positions (accumulated stocks) and are not directly comparable.
Negative values. Net flows can be negative when foreign investors withdraw capital or intra-company loans are repaid faster than new investment arrives.
Timing. Headline figures use 2024, the latest year with broad coverage across economies; charts also show any newer early estimates. Rankings cover economies only, not aggregates.
Counterparts. Bilateral data record the immediate counterpart, so financial centres and conduit economies can appear larger than the ultimate investors behind them.