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Economy of Andorra vs Ecuador compared: GDP & Debt

Updated on by Georank team

Andorra has a GDP of $4.04B compared to $125B for Ecuador, ranking 166/197 and 63/197 by economy size, respectively.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Andorra
GDP, current $

GDP, constant 2015 $
Ecuador
GDP, current $

GDP, constant 2015 $
Year GDP
Andorra Ecuador
Current $ Constant $ Current $ Constant $
1960 - - $2,069,464,937 $10,979,942,382
1961 - - $1,753,850,955 $11,542,600,183
1962 - - $1,518,207,703 $12,110,397,647
1963 - - $1,824,343,871 $12,365,487,218
1964 - - $2,244,146,103 $13,281,429,196
1965 - - $2,387,047,396 $13,716,406,958
1966 - - $2,429,308,639 $13,669,836,240
1967 - - $2,553,595,172 $14,301,529,480
1968 - - $2,582,179,864 $14,574,608,376
1969 - - $3,112,165,727 $15,255,131,526
1970 $78,617,711 $859,121,721 $2,862,503,139 $16,303,453,382
1971 $89,406,608 $899,066,287 $2,754,219,271 $17,329,365,500
1972 $113,414,397 $972,337,884 $3,185,986,087 $18,198,890,798
1973 $150,841,639 $1,048,068,102 $3,891,754,150 $20,737,760,204
1974 $186,557,082 $1,106,956,843 $6,599,257,044 $23,062,154,054
1975 $220,112,572 $1,112,958,826 $7,731,674,472 $25,592,569,113
1976 $227,283,851 $1,149,728,616 $9,091,921,030 $27,485,699,467
1977 $253,997,897 $1,182,364,531 $11,026,342,618 $27,926,801,546
1978 $308,020,261 $1,199,662,526 $11,922,497,876 $29,520,535,223
1979 $411,548,748 $1,200,161,073 $14,175,160,902 $30,622,846,297
1980 $446,377,777 $1,226,669,362 $17,881,508,242 $31,758,550,582
1981 $388,983,266 $1,225,044,338 $21,810,759,354 $33,541,114,872
1982 $375,914,744 $1,240,314,039 $19,929,846,396 $33,747,340,858
1983 $327,850,043 $1,262,269,065 $17,152,477,037 $33,633,656,606
1984 $330,073,081 $1,284,796,613 $16,912,509,092 $34,516,632,002
1985 $346,742,715 $1,314,622,306 $17,149,088,413 $35,874,861,959
1986 $481,996,013 $1,357,391,200 $15,314,138,472 $37,117,847,903
1987 $611,299,925 $1,432,687,348 $13,945,426,859 $37,021,676,039
1988 $721,425,939 $1,505,673,115 $13,051,881,851 $39,202,425,756
1989 $795,489,582 $1,578,352,472 $13,890,823,705 $39,596,715,108
1990 $1,028,989,692 $1,638,036,096 $15,239,272,612 $41,053,840,192
1991 $1,106,891,362 $1,679,740,553 $16,988,535,268 $42,815,601,070
1992 $1,209,992,020 $1,695,348,938 $18,094,238,119 $43,720,855,883
1993 $1,007,090,270 $1,677,861,678 $18,938,717,359 $44,583,563,741
1994 $1,017,544,069 $1,717,848,180 $22,708,673,337 $46,482,043,534
1995 $1,178,745,283 $1,765,217,871 $24,432,884,442 $47,529,074,179
1996 $1,224,024,139 $1,847,295,889 $25,226,393,197 $48,352,157,793
1997 $1,180,645,572 $2,014,802,622 $28,162,053,027 $50,444,773,790
1998 $1,211,953,994 $2,079,171,403 $27,981,896,948 $52,092,567,129
1999 $1,240,295,103 $2,164,398,280 $19,645,272,636 $49,623,699,372
2000 $1,432,606,189 $2,240,766,094 $17,539,454,727 $50,165,491,739
2001 $1,548,265,808 $2,422,701,909 $23,127,055,000 $52,275,588,700
2002 $1,764,279,824 $2,532,846,713 $27,054,197,000 $54,851,779,632
2003 $2,366,941,809 $2,753,057,567 $30,965,208,000 $56,433,979,416
2004 $2,900,245,324 $2,977,037,420 $35,194,947,000 $60,289,773,140
2005 $3,161,084,091 $3,137,731,826 $40,278,849,000 $63,544,590,361
2006 $3,459,337,987 $3,288,615,582 $45,690,762,000 $66,303,144,899
2007 $3,957,625,367 $3,339,693,969 $49,848,725,000 $67,564,514,888
2008 $4,102,319,399 $3,154,034,157 $61,139,438,000 $72,000,071,700
2009 $3,688,976,341 $2,986,780,566 $60,094,978,000 $72,785,601,820
2010 $3,449,925,739 $2,927,792,904 $68,151,329,000 $75,718,234,074
2011 $3,629,133,574 $2,927,556,638 $78,986,648,000 $82,140,258,351
2012 $3,188,652,765 $2,781,926,981 $87,735,048,000 $86,890,603,905
2013 $3,193,512,950 $2,683,235,436 $96,570,334,000 $93,156,490,881
2014 $3,271,685,597 $2,750,436,143 $102,717,794,000 $97,093,344,927
2015 $2,789,881,259 $2,789,881,259 $97,209,558,000 $97,209,558,000
2016 $2,896,610,480 $2,893,376,872 $97,671,433,000 $96,540,800,718
2017 $3,000,162,081 $2,903,390,036 $104,467,486,000 $102,304,671,535
2018 $3,218,419,897 $2,949,518,095 $107,478,961,000 $103,373,033,702
2019 $3,155,149,348 $3,008,967,037 $107,595,830,000 $103,544,017,315
2020 $2,891,001,149 $2,672,445,971 $95,865,473,000 $93,971,273,314
2021 $3,324,647,529 $2,893,905,657 $107,179,074,000 $102,825,145,845
2022 $3,380,612,573 $3,170,696,512 $116,133,121,000 $108,859,360,918
2023 $3,785,067,332 $3,252,613,194 $121,147,057,000 $111,023,744,251
2024 $4,039,844,390 $3,362,285,467 $124,676,074,700 $108,801,876,280

Economic indicators

Andorra Ecuador
Gross domestic product
$4.04B
2024
$125B
2024
GDP rank
166/197
2024
63/197
2024
GDP growth
6.73%
2023-2024
2.91%
2023-2024
GDP per capita
$49,304
2024
$6,875
2024
GDP per capita rank
25/197
2024
105/197
2024
GDP per capita, PPP
$74,939
2024
$15,840
2024
Government debt n/a
$68.6B
2024
Debt-to-GDP ratio n/a
55.1%
2025
Government debt per person n/a
$3,784
2024
Government debt per person rank n/a
93/185
2024
Average annual personal income after taxes
$30,890
2025
$6,020
2025
Market capitalization of domestic companies n/a
$747M
2000
Income share by richest 10% n/a
33.4%
2024
Income share by poorest 10% n/a
1.5%
2024
Government expenditure, % of GDP
35%
2025
37.8%
2025
Consumer prices inflation
-0.9%
2019-2020
1.55%
2023-2024
Unemployment rate
3.7%
2016
3.45%
2024
Population
83589
18414090

GDP per capita in Andorra vs Ecuador

Andorra's GDP per capita is $49,304, ranking 25/197, compared to $6,875 in Ecuador, ranking 105/197. Adjusted for purchasing power (GDP per capita PPP), Andorra ranks 18th at $74,939, while Ecuador ranks 111th at $15,840.

Andorra
GDP per capita

GDP per capita, PPP
Ecuador
GDP per capita

GDP per capita, PPP
Year Current $
Andorra Ecuador
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $451 -
1961 - - $371 -
1962 - - $312 -
1963 - - $365 -
1964 - - $436 -
1965 - - $450 -
1966 - - $445 -
1967 - - $454 -
1968 - - $445 -
1969 - - $521 -
1970 $3,935 - $465 -
1971 $4,170 - $434 -
1972 $4,940 - $488 -
1973 $6,151 - $579 -
1974 $7,140 - $954 -
1975 $7,925 - $1,086 -
1976 $7,721 - $1,242 -
1977 $8,168 - $1,465 -
1978 $9,410 - $1,541 -
1979 $11,996 - $1,783 -
1980 $12,475 - $2,190 -
1981 $10,465 - $2,601 -
1982 $9,698 - $2,314 -
1983 $8,082 - $1,940 -
1984 $7,808 - $1,864 -
1985 $7,912 - $1,842 -
1986 $10,539 - $1,604 -
1987 $12,828 - $1,426 -
1988 $14,599 - $1,304 -
1989 $15,715 - $1,356 -
1990 $19,564 $24,909 $1,455 $4,632
1991 $19,533 $24,510 $1,587 $4,887
1992 $20,100 $23,817 $1,655 $4,998
1993 $15,917 $22,958 $1,698 $5,112
1994 $15,749 $23,509 $1,997 $5,339
1995 $18,443 $24,934 $2,108 $5,469
1996 $19,130 $26,542 $2,136 $5,560
1997 $18,248 $29,122 $2,341 $5,793
1998 $18,537 $30,073 $2,284 $5,940
1999 $18,875 $31,590 $1,575 $5,638
2000 $21,810 $33,458 $1,382 $5,728
2001 $23,511 $36,895 $1,791 $5,999
2002 $26,528 $38,787 $2,059 $6,282
2003 $34,064 $41,148 $2,316 $6,475
2004 $39,021 $42,717 $2,586 $6,980
2005 $40,830 $44,578 $2,909 $7,457
2006 $43,467 $46,853 $3,244 $7,885
2007 $48,336 $47,501 $3,479 $8,112
2008 $49,133 $44,839 $4,195 $8,663
2009 $43,975 $42,523 $4,053 $8,662
2010 $42,747 $43,853 $4,520 $8,969
2011 $46,657 $46,436 $5,154 $9,769
2012 $41,501 $45,503 $5,634 $10,245
2013 $42,470 $45,609 $6,109 $11,296
2014 $44,370 $48,506 $6,406 $11,836
2015 $38,655 $50,733 $5,976 $10,878
2016 $40,130 $53,110 $5,918 $10,881
2017 $40,673 $53,085 $6,233 $11,793
2018 $42,820 $55,245 $6,304 $12,187
2019 $41,258 $57,475 $6,205 $12,543
2020 $37,361 $52,096 $5,464 $11,527
2021 $42,426 $59,332 $6,061 $13,507
2022 $42,414 $68,470 $6,516 $15,198
2023 $46,812 $71,731 $6,738 $15,919
2024 $49,304 $74,939 $6,875 $15,840

Inflation comparison by year

Over the past 23 years, Andorra has recorded an average annual inflation rate of 1.49%, compared with 12.7% in Ecuador. In 2020, inflation was -0.9% in Andorra and 1.55% in Ecuador.

Inflation
Andorra

Ecuador
Year Inflation
Andorra Ecuador Andorra Ecuador
1996 - 24.4%
1997 - 30.7%
1998 1.62% 36.1%
1999 - 52.2%
2000 4.3% 96.1%
2001 - 37.7%
2002 - 12.5%
2003 - 7.93%
2004 3.4% 2.74%
2005 3.2% 2.17%
2006 - 3.3%
2007 3.9% 2.28%
2008 2.3% 8.4%
2009 - 5.16%
2010 1.6% 3.55%
2011 - 4.47%
2012 1.1% 5.1%
2013 - 2.72%
2014 - 3.59%
2015 -0.9% 3.97%
2016 - 1.73%
2017 - 0.42%
2018 -0.9% -0.22%
2019 -0.9% 0.27%
2020 -0.9% -0.34%
2021 - 0.13%
2022 - 3.47%
2023 - 2.22%
2024 - 1.55%

Balance of trade

Andorra Ecuador
Current account balance
$649M
2024
$7.07B
2024
Current account balance ranking
56/189
2024
26/189
2024
Current account balance, % of GDP
+16.1%
2024
+5.67%
2024
Goods imports
$1.95B
2024
$27.9B
2024
Goods exports
$255M
2024
$34.7B
2024
Service imports
$1.04B
2024
$6.18B
2024
Service exports
$3.38B
2024
$3.86B
2024
Imports of goods and services, % of GDP n/a
26.9%
2024
Exports of goods and services, % of GDP
15%
2025
30.3%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Andorra Ecuador
Economic freedom 72 55.8
Economic freedom ranking 27/197 125/197
Property rights n/a 30.5
Government integrity n/a 33.8
Judicial effectiveness n/a 48
Tax burden n/a 76.6
Government spending n/a 54.9
Fiscal health n/a 89.3
Business freedom n/a 66.6
Labor freedom n/a 57.4
Monetary freedom n/a 75.3
Trade freedom n/a 67.2
Investment freedom n/a 30
Financial freedom n/a 40

More economic indicators

Andorra Ecuador
Services, % of GDP
77.6%
2024
57.2%
2024
Industry, % of GDP
12.8%
2024
26.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.47%
2024
9.48%
2024
GNI, Atlas method
$4B
2024
$117B
2024
GNI per capita, PPP
$78,170
2024
$15,420
2024
Total reserves including gold n/a
$6.91B
2024
Total reserves ranking n/a
87/177
2024
Net foreign direct investment
-$150M
2024
-$318M
2024
Net inflows of foreign direct investment
$268M
2024
$318M
2024
Net outflows of foreign direct investment
$118M
2024
$0
1989
Servicing debt to the IMF, % of GNI
n/a
5.62%
2023
Poverty at national poverty lines
8%
2008
28%
2024
Gross capital formation, % of GDP
n/a
18.5%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.