Page 58 - Economic report 2020

makes trading more difficult). In the case of Purchases outside the EU increased,
Switzerland, imports rose 11.5%, representing from Switzerland, the USA and China,
a decline in its percentage of total imports of
three tenths, to 1.4%. among many other countries.

As for imports from Asia, those from China are the most significant. As mentioned, the trend in
purchases from China was very positive (+47%), so its percentage of the total increased by three
tenths, to 3%, making it the fourth most important supplier to Andorra, only behind Spain, France
and Germany. Within the Asian continent, Japan also stands out, although in recent years its
volume of the total has fallen to 0.4%, far from the 6.2% it represented in the early nineties. This
change is greatly related to the loss of attractiveness suffered by the Andorran electronics trade
sector over recent years. A large part of these
Spain strengthens its position purchases have been substituted by those from

as main supplier and China Vietnam, Taiwan and Bangladesh, countries that
climbs to fourth position. each represent between 0.4% and 0.5% of total
imports (the same current percentage as Japan).

In summary, Spain strengthened its position as the main supplier to Andorra in 2022, concentrating
two thirds of total imports. Purchases from France also increased substantially but their importance
is relatively much lower than Spain’s. Among the most distant countries, the growth of imports
from China was notable, becoming the fourth most important supplier country.

2.2. Exports
56
In 2022, exports to some countries, such as Spain, saw very significant rises due to the extraordinary
increase in the chapter of works of art and antiques. This meant that exports to Europe grew
180%, that the European continent is still the main destination of Andorran exports and that its
percentage of the total has increased to 91.8%. There was also extraordinary expansion in sales
to other continents, such as America (+80%) or Asia (+104%), although their percentages of total
imports are much smaller (3% and 1.9%, respectively).

Sales to Spain, the main consumer of products from Andorra, rose 279%, growth that was
influenced by the atypical figure in exports of works of art and antiques. As a result of this trend,
Spain’s percentage of total exports went from 52.9% in 2021 to 76.8% in 2022, the highest

Andorran economy: general developments | VII. Foreign sector
IMPORTS FROM ANDORRA’S NEIGHBOURING EXPORTS TO ANDORRA’S NEIGHBOURING
COUNTRIES - Percentage of total (%) Chart 7.5 COUNTRIES - Percentage of total (%) Chart 7.6

Spain France Spain France
Source: Department of Tax and Frontiers. Source: Department of Tax and Frontiers.