Page 40 - Economic report 2020

The higher education students are concentrated in the educational fields of business administration
and law (33%), followed by social sciences, journalism and information (21.2%), and engineering,
industry and construction (15.8%). The others are divided between the educational fields of
information and communication technologies (7.5%), education and health and wellbeing (both
6.5%), natural sciences, mathematics and statistics (5.5%) and arts and humanities (4.1%).

By level of education of the students registered in higher education in the 2021-2022 academic
year, 90.3% were registered for a bachelor’s degree, 6.8% for a master’s, 2.2% for a doctorate and
the other 0.7% on a short-cycle education programme.

V. Activity and demand

1. Developments in economic activity in 2022

With the Covid-19 pandemic over, in 2022, the Andorran economy consolidated the recovery that
had begun in 2021, with stronger growth than in the previous year. This improvement occurred
despite the geopolitical uncertainty and energy crisis which gripped the global environment after
the outbreak of war in Ukraine in February 2022, bringing high inflation and rapid rises in interest

SUMMARY OF INDICATORS OF ACTIVITY AND DEMAND (interannual variation rates, %)
38 Table 5.1
2021 2022
Activity
Establishments (1) 7.9 7.9
Employment (ages 15+) 3.1 3.4
Employees -2.0 10.6
Industry -3.3 5.8
Construction 6.9 5.4
Services -2.9 11.5
Unemployment (ages 15+) 8.7 -34.1
Job seekers -10.1 -54.3
Number of visitors 4.1 55.4
Andorran economy: general developments | V. Activity and demand
Electricity consumption (2) 8.0 9.2
Imports 1.0 34.0
Demand
Average wage 1.8 4.9
Car registrations 23.5 -0.1
Industrial vehicle registrations 12.1 19.6
Imports of capital goods (3) 10.0 45.4
Imports of building materials (4) 48.7 37.0
Credit from banking entities (5) 10.4 4.0
Government operating expenses (6) 3.2 7.4
Government real investment (6) 6.2 7.1
(1) Establishments registered with the Registry of Commerce and Industry that carry out a commercial, industrial or service activity.
(2) Except domestic use, public lighting and other distributors.
(3) Includes chapters 84 and 85 under the Andorran Customs classification.
(4) In 2021, the definition of building materials was expanded and now includes chapters 25, 68-70, 72-76 and 78-81, under the Andorran
Customs classification.
(5) Gross lending to customers.
(6) Settled figures, includes Central and Comú governments.
Source: own preparation, using data provided by the Department of Statistics, Central and Comú governments, CASS, FEDA and Andorran Banking.