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Andorra

US Revised Tariffs (%)

10

Ease of doing business

theboardiQ Tariffs Dashboard:

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Understand the complexities of international tariffs and ease of doing business across nations to cultivate balanced trade relationships, streamline operations, and deliver cost savings to end consumers.

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Revised Tariff %
Original Tariff %
Country Tariff Rate %
Share of US Imports % (1 implies <1%)
10
10
4.5
1
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
0
0
0

Implications

As of January 2026, the trade landscape between the US and Andorra is shaped by broad US reciprocal tariff policies and Andorra's unique position as a non-EU member within a European customs union.


1. Latest US Tariffs Update: Andorra (2026)

The US has maintained a 10% baseline reciprocal tariff on Andorran goods since April 2025. While Andorra uses the Euro and is in a Customs Union with the EU for industrial goods, it has largely avoided the escalating 25% "Greenland Dispute" tariffs and higher reciprocal rates (15%–20%) currently applied to many EU member states.


  • Current Rate: 10% (Baseline reciprocal).

  • Recent Change: As of January 17, 2026, while the US announced potential increases to 25% for "European partners" over the Greenland dispute, Andorra's specific non-EU status currently keeps it under the standard baseline unless otherwise reclassified.

  • Legal Status: Like other partner nations, Andorra is monitoring the US Supreme Court's pending ruling on the International Emergency Economic Powers Act (IEEPA), which could potentially invalidate these tariffs and lead to duty refunds later in 2026.


2. Major Companies & Sectors Impacted

Direct trade between the US and Andorra is niche, but specific sectors face direct costs:


  • Art & Collectibles: This is the largest export category. Companies and galleries exporting paintings and sculptures (valued at ~$50M annually) are the most impacted by the 10% duty.

  • Electronics & Integrated Circuits: Specialized tech firms exporting high-value components (e.g., integrated circuits) face increased landed costs in the US.

  • Media & Apparel: Manufacturers of blank audio media and niche activewear brands are seeing reduced margins.

  • Financial Services: While not directly "tariffed," Andorran banks (e.g., MoraBanc, Crèdit Andorrà) are indirectly affected by the broader European economic slowdown caused by the US-EU trade friction.

3. GDP & Balance of Trade (BOT) Impact


Andorra’s economy is highly resilient due to its service-based nature (tourism/banking), which is less vulnerable to goods-based tariffs.


GDP Impact

  • Growth Forecast: Real GDP growth is projected to slow slightly to 1.7% for 2026, down from 2.2% in 2025.

  • Tariff Sensitivity: Direct exposure is minimal; US trade represents only about 0.5% of Andorra's GDP.

  • Indirect Risk: The primary risk is "contagion" from Spain and France—Andorra’s main trading partners—whose economies are more heavily impacted by US tariffs.


Latest Country BOT YTD (October 2025 – Jan 2026)


The US-Andorra trade balance has recently shifted toward a US Surplus.

Metric

Value (Latest Data)

Trend

US Exports to Andorra

~$3.48M (Monthly)

Up 1,060% (Driven by art imports)

US Imports from Andorra

~$0.36M (Monthly)

Down 16.1%

Trade Balance (YTD)

US Surplus of ~$3.1M

US moved from deficit to surplus

4. SWOT Analysis: Andorra Trade 2026

Strengths

Weaknesses

* Non-EU Status: Avoids specific "EU-targeted" retaliatory tariff hikes.


* Low Corporate Tax: 10% cap makes it attractive for supply chain diversion.


* Service-Led Economy: 78% of GDP is in services, largely immune to goods tariffs.

* Landlocked Geography: Highly dependent on Spanish/French logistics.


* Limited Diversification: Extreme reliance on tourism and banking.


* Lack of Central Bank: No "lender of last resort" for monetary flexibility.

Opportunities

Threats

* EU Association Agreement: Potential 2026 ratification could open new markets.


* Digital Hub: Growth in fintech and digital gambling (e.g., Betfair expansion).


* Nearshoring: Potential for EU firms to use Andorra as a low-tax distribution base.

* Indirect Tariff Hits: Economic cooling in Spain/France reduces tourism spending.


* Regulatory Pressure: Potential US/EU pressure on "tax haven" status.


* Global Volatility: Further escalation of US trade wars could eventually include micro-states.


US Revised Tariffs

Country Tariffs

Balance of Trade

Commercial Guide

Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals

Trade.Gov Fact Sheet

Tariff Rate for US

World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.

US Imports Guide 

United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

Sources : ForbesUSDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia International Trade Administration

theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

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