ANDORRA
Location:
Andorra lies high in the Pyrenees Mountains on the French-Spanish border. The
country is drained by the Valira River. Its total area is 450 square kilometres.
Population:
63,930 (July, 1994 estimate)
Languages:
Catalan (official), French, Castilian
Government:
Andorra's government is a parliamentary democracy that retains as its heads of state a co-principality. The two princes are the president of France and the Spanish bishop of Seo de Urgel, who are represented locally by officials called veguers.
Legal System:
The Andorran legal system is based on French and Spanish civil codes. There is no judicial review of legislative acts. Andorra has not accepted compulsory ICJ jurisdiction.
Telecommunications:
Andorra uses an international digital microwave network and has international landline circuits to France and Spain.
Economy:
Tourism, the mainstay of Andorra's economy, accounts for roughly 80% of GDP. An
estimated 13 million tourists visit annually, attracted by Andorra's duty-free status and
by its summer and winter resorts. The banking sector, with its "tax haven" status, also
contributes substantially to the economy. Agricultural production is limited by a scarcity
of arable land, and most food has to be imported. The principal livestock activity is
sheep raising. Manufacturing consists mainly of cigarettes, cigars and furniture.
Andorra is a member of the EU Customs Union. It is unclear what effect the European
Single Market will have on the advantages Andorra obtains from its duty-free status.
Industries:
Andorra's main industries are tourism (particularly skiing), sheep, timber, tobacco and
banking.
Currency:
1 French franc (F) = 100 centimes
1 Spanish peseta (Pta) = 100 centimos
Exchange Rates:
French francs (F) per US$1 - approximately 7.3 (November, 2001)
Spanish pesetas (Ptas) per US$1 - approximately 186 (November, 2001)
Related sites:
About Andorra
Jordi's Andorra Page
To the Offshore World home page.
To the Offshore Financial Centres page.