The 2023 GDP composition of Andorra shows a strong dominance of the services sector, accounting for 58.37% of the GDP. The wholesale, retail trade, restaurants, and hotels sector follows with 24.04%, while construction contributes 5.95%. The transport, storage, and communication sector holds a 5.94% share, and mining, manufacturing, and utilities combine for 5.13%. Agriculture, including hunting, forestry, and fishing, represents a minimal 0.57% of GDP. In 2023, services predominantly drove Andorra's economy. The trend over the past two years shows slight growth in services and trade sectors, while construction and transport remained stable with minor fluctuations. The past five years witnessed a moderate upward CAGR in key sectors.
Future trends to watch in Andorra's GDP composition include:
- An increasing shift towards digital services and sustainable tourism.
- Potential growth in the construction sector driven by infrastructure projects.
- Minimal changes in agriculture sectors remaining low in contribution.
- Monitoring the global influence on trade fluctuations impacting wholesale and retail trade.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 58.37 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 24.04 | 2016 | |
| 3 | 3 Construction | 5.95 | 2016 | |
| 4 | 4 Transport, storage and communication | 5.94 | 2016 | |
| 5 | 5 Mining, Manufacturing, Utilities | 5.13 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 0.57 | 2016 |
