Economic growth has significantly increased Andorran per capita income

Andorra la VellaThe great economic growth of recent years has led Andorra to be the thirteenth richest country in Europe per capita and has left far behind countries such as the United Kingdom or France and has even surpassed one of the Nordic countries, Finland. The distance with Spain continues to widen and already exceeds 20%.

The Principality, at the end of 2023, had a GDP per capita in dollars (PPP) of $65,753 per year. This country-by-country wealth comparison system is more accurate. It collects the average income for each inhabitant of the country, corrected to represent the purchasing power in each economy. The variation between 2022 and 2023 was an increase of 8.7%.

Force above the EU

The comparison with the EU average is very favorable for Andorra. In the EU the GDP per capita PPP is 60,391 dollars, almost 10% below the Principality. France also has a lower figure: 61,473. The United Kingdom, 59.2626. Spain is far behind with 54,084. And, even Finland: 64,497.

The Principality is among the 15 richest countries in Europe. Luxembourg, Ireland or Norway are on the podium with figures of GDP per capita that exceed 100,000 dollars. Switzerland, Holland, Iceland, Austria, Belgium, Germany or Sweden are ahead, but Andorra has not stopped moving up the ranks in recent years.

The increase in wealth per person is linked to great economic growth. In 2023, the Principality was the second European state with the most growth: 13.4%. The country’s PPP GDP is $5,595.6 million.