Page 40 - economic report 2021

NOMINAL AND REAL GDP - Millions of euros (base year 2010)
Chart 5.2

Nominal GDP Real GDP

Source: Department of Stat st cs.

Andorra’s real GDP revived
in 2021, with 8.9% growth, TREND IN ANDORRAN GDP COMPARED Chart 5.3
WITH NEIGHBOURING ECONOMIES
st ll below the pre-pandemic level. Interannual variation rate (%)

data do not show such a favourable trend, as
there was a 2% decline, although this is slower
than the 3% fall recorded in 2020. Moreover,
the number of job seekers fell 10.1% and
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immigration permits increased 8.6%, contrasting
with the reduction seen in 2020 (-7.4%). Within
this context, implementation of the ERTO
scheme (furlough), which greatly softened the
impact of the pandemic in 2020, continued in
place in 2021, although the number of workers Andorra Spain France EU-27
receiving it gradually fell over the year to minimal
levels over the summer months and then to Source: Eurostat and Department of Stat st cs.
zero from October. Altogether, along with wage
The Andorran economy: general developments | V. Activity and demand
growth, this boosted income from work and therefore more favourable consumption conditions for
Andorran residents.

Chart 5.4
REAL PER CAPITA GDP. IN EUROS (base year 2010)

Source: Department of Stat st cs.