Andorra is also known officially as the Principality of Andorra which is a landlocked micro state in Southwestern Europe along the Pyrenees Mountains. It is the sixth smallest country in the continent bounded by France and Spain. As of 2012, Andorra had a population of only 85,000 people. The Principality was created in 1278 A.D. It used to be a Monarchy with two co-rulers at that time. One was a Roman Catholic Bishop from Spain and the other was the President of the French Republic.
Andorra is the oldest country in the European Continent with untouched borders since 1288. The initial ruling agreement changed after 705 years when a new Constitution was granted in 1933. The Principality became an independent and modern Co-Monarchy. Andorra became a member of the United Nations, Council of Europe and other international bodies.
The country has thrived primarily because of its bustling tourism industry which attracts approximately 10.2 million visitors every year. It has a tax haven status where taxes are very low but the government is trying to reform its current tariff system. Andorra is not a member of the European Union but it uses the Euro as real currency. Nonetheless, the duty-free advantage of this country has been affected after France and Spain started providing more availability of commodities and lower duties.
The banking industry of Andorra has also contributed significantly to economic growth but agricultural production has been restricted by scarcity of tillable land. The nation relies mainly on food imports. Sheep is the country’s primary livestock product while manufacturing is made up of furniture items, cigars and cigarettes. Andorra belongs to the European Customs Union and treated as member of the Union for trade in manufactured good without taxes and non-member for agricultural items.
Population. Ranked 199th in 2013.
GDP per capita. Ranked 21st in 2008.