Source: world bank Nominal/PPP
Summary:
Andorra GDP Per Capita expanded from 1970 to 2024, increasing from $0.08 to $4.04 .The compound annual growth rate (CAGR) averaged 7.53% over the period. The economy recorded its peak level in 2008 and its lowest level in 1970. Growth volatility remained high. The maximum drawdown reached 31.95%, indicating the largest cyclical decline from peak levels. The country experienced 7 recession episode(s) during the observed period.
Andorra Economic Phases (1970 - 2024)
From 1970 to 2024, Andorra economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1971–1975) indicating robust economic expansion
- High Growth (1977–1980) indicating robust economic expansion
- High Growth (1985–1992) indicating robust economic expansion
- Expansion (1998–1999) indicating steady moderate growth
- High Growth (2000–2007) indicating robust economic expansion
- Expansion (2013–2014) indicating steady moderate growth
- Expansion (2016–2017) indicating steady moderate growth
- Contraction (2019–2020) indicating temporary slowdown
- High Growth (2023–2024) indicating robust economic expansion
The most remarkable growth occurred in 1986 with an increase of 39.007%, while the largest decline was in 1993 at -16.769%.