Skip to content

Economy of Andorra vs Serbia compared: GDP & Debt

Updated on by Georank

Andorra has a GDP of $4.5B compared to $100B for Serbia, ranking 166/197 and 76/197 by economy size, respectively.

Andorra vs Serbia GDP by year

Andorra
Serbia
1x
Year GDP, current $
Andorra Serbia
2025 $4,500,982,732 $99,953,324,473
2024 $4,044,249,679 $90,088,366,320
2023 $3,785,067,332 $81,343,999,280
2022 $3,380,612,573 $66,809,895,701
2021 $3,324,647,529 $66,159,884,073
2020 $2,891,001,149 $55,874,017,669
2019 $3,155,149,348 $53,864,693,665
2018 $3,218,419,897 $52,787,520,249
2017 $3,000,162,081 $45,972,834,714
2016 $2,896,610,480 $42,225,495,910
2015 $2,789,881,259 $41,297,410,635
2014 $3,271,685,597 $49,114,321,280
2013 $3,193,512,950 $50,455,529,604
2012 $3,188,652,765 $45,103,269,969
2011 $3,629,133,575 $51,251,098,408
2010 $3,449,925,739 $43,536,629,233
2009 $3,688,976,341 $46,955,984,410
2008 $4,102,319,399 $54,220,641,202
2007 $3,957,625,367 $44,888,028,946
2006 $3,459,337,987 $33,298,057,362
2005 $3,161,084,091 $28,334,256,181
2004 $2,900,245,324 $26,845,632,342
2003 $2,366,941,809 $23,593,044,418
2002 $1,764,279,824 $17,930,583,571
2001 $1,548,265,808 $13,599,378,662
2000 $1,432,606,189 $7,326,373,882
1999 $1,240,295,103 $20,878,694,851
1998 $1,211,953,994 $21,004,077,441
1997 $1,180,645,572 $27,153,408,995
1996 $1,224,024,139 $23,277,430,168
1995 $1,178,745,283 $17,921,892,655
1994 $1,017,544,069 -
1993 $1,007,090,270 -
1992 $1,209,992,020 -
1991 $1,106,891,362 -
1990 $1,028,989,692 -
1989 $795,489,582 -
1988 $721,425,939 -
1987 $611,299,925 -
1986 $481,996,013 -
1985 $346,742,715 -
1984 $330,073,081 -
1983 $327,850,043 -
1982 $375,914,744 -
1981 $388,983,266 -
1980 $446,377,777 -
1979 $411,548,748 -
1978 $308,020,261 -
1977 $253,997,897 -
1976 $227,283,851 -
1975 $220,112,572 -
1974 $186,557,082 -
1973 $150,841,639 -
1972 $113,414,397 -
1971 $89,406,608 -
1970 $78,617,711 -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/andorra/serbia | CC BY

GDP per capita in Andorra vs Serbia by year

Andorra
GDP per capita

GDP per capita, PPP
Serbia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Andorra Serbia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $54,292 - $15,262 -
2024 $49,357 $74,939 $13,678 $32,832
2023 $46,812 $71,731 $12,282 $29,777
2022 $42,414 $68,470 $10,025 $26,143
2021 $42,426 $59,332 $9,681 $23,406
2020 $37,361 $52,096 $8,099 $21,013
2019 $41,258 $57,475 $7,756 $20,587
2018 $42,820 $55,245 $7,560 $18,469
2017 $40,673 $53,085 $6,548 $17,285
2016 $40,130 $53,110 $5,982 $16,455
2015 $38,655 $50,733 $5,820 $15,546
2014 $44,370 $48,506 $6,887 $15,296
2013 $42,470 $45,609 $7,040 $15,247
2012 $41,501 $45,503 $6,263 $14,506
2011 $46,657 $46,436 $7,082 $14,298
2010 $42,747 $43,853 $5,971 $13,320
2009 $43,975 $42,523 $6,414 $13,038
2008 $49,133 $44,839 $7,377 $13,123
2007 $48,336 $47,501 $6,081 $11,685
2006 $43,467 $46,853 $4,493 $10,463
2005 $40,830 $44,578 $3,808 $9,398
2004 $39,021 $42,717 $3,597 $8,715
2003 $34,064 $41,148 $3,154 $8,023
2002 $26,528 $38,787 $2,391 $7,563
2001 $23,511 $36,895 $1,812 $6,803
2000 $21,810 $33,458 $975 $6,416
1999 $18,875 $31,590 $2,769 $5,897
1998 $18,537 $30,073 $2,775 $6,460
1997 $18,248 $29,122 $3,574 $6,040
1996 $19,130 $26,542 $3,054 $5,434
1995 $18,443 $24,934 $2,349 $5,022
1994 $15,749 $23,509 - -
1993 $15,917 $22,958 - -
1992 $20,100 $23,817 - -
1991 $19,533 $24,510 - -
1990 $19,564 $24,909 - -
1989 $15,715 - - -
1988 $14,599 - - -
1987 $12,828 - - -
1986 $10,539 - - -
1985 $7,912 - - -
1984 $7,808 - - -
1983 $8,082 - - -
1982 $9,698 - - -
1981 $10,465 - - -
1980 $12,475 - - -
1979 $11,996 - - -
1978 $9,410 - - -
1977 $8,168 - - -
1976 $7,721 - - -
1975 $7,925 - - -
1974 $7,140 - - -
1973 $6,151 - - -
1972 $4,940 - - -
1971 $4,170 - - -
1970 $3,935 - - -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/andorra/serbia | CC BY

Andorra's GDP per capita is $54,292, ranking 24/197, compared to $15,262 in Serbia, ranking 69/197. Adjusted for purchasing power (GDP per capita PPP), Andorra ranks 18th at $74,939, while Serbia ranks 69th at $32,832.

Economic indicators

Andorra Serbia
Gross domestic product
$4.5B
2025
$100B
2025
GDP rank
166/197
2025
76/197
2025
GDP growth
3.87%
2024-2025
2.03%
2024-2025
GDP per capita
$54,292
2025
$15,262
2025
GDP per capita rank
24/197
2025
69/197
2025
GDP per capita, PPP
$74,939
2024
$32,832
2024
GDP per capita PPP rank
18/197
2024
69/197
2024
Government debt n/a
$42.4B
2025
Debt-to-GDP ratio n/a
42.4%
2025
Government debt per person n/a
$6,478
2025
Government debt per person rank n/a
75/185
2025
Average annual personal income after taxes
$30,784
2026
$12,492
2026
Market capitalization of domestic companies n/a
$4.06B
2011
Income share by richest 10% n/a
24.7%
2023
Income share by poorest 10% n/a
2.5%
2023
Government expenditure, % of GDP
35%
2026
43.2%
2025
Consumer prices inflation
-0.9%
2019-2020
3.89%
2024-2025
Central bank interest rate n/a
5.75%
2024
Unemployment rate
3.7%
2016
7.3%
2025
Population
84217
6500256

Inflation comparison by year

Inflation
Andorra

Serbia
1x
Year Consumer prices inflation
Andorra Serbia
2025 - 3.89%
2024 - 4.67%
2023 - 12.4%
2022 - 12%
2021 - 4.09%
2020 -0.9% 1.58%
2019 -0.9% 1.85%
2018 -0.9% 1.96%
2017 - 3.13%
2016 - 1.12%
2015 -0.9% 1.39%
2014 - 2.08%
2013 - 7.69%
2012 1.1% 7.33%
2011 - 11.1%
2010 1.6% 6.14%
2009 - 8.12%
2008 2.3% 12.4%
2007 3.9% 6.39%
2006 - 11.7%
2005 3.2% 16.1%
2004 3.4% 11%
2003 - 9.88%
2002 - 19.5%
2001 - 95%
2000 4.3% 71.1%
1999 - 42.5%
1998 1.62% 30.2%
1997 - 23.3%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08); Central Intelligence Agency (CIA) (1998–2020, retrieved 2026-07-08).

GeoRank.org/economy/andorra/serbia | CC BY

Over the past 23 years, Andorra has recorded an average annual inflation rate of 1.49%, compared with 16.5% in Serbia. In 2020, inflation was -0.9% in Andorra and 3.89% in Serbia.

Top exports between countries

Andorra
Export category Export value
Serbia
Export category Export value
Machinery & equipment $505K
Chemicals & pharma $47K
Textiles & consumer goods $21K
Metals $19K
Miscellaneous $10K
Wood & paper products $2K

Balance of trade

Andorra Serbia
Current account balance
$649M
2024
-$4.9B
2025
Current account balance ranking
54/190
2024
164/190
2025
Current account balance, % of GDP
+16%
2024
-4.9%
2025
Goods imports
$1.95B
2024
$44B
2025
Goods exports
$255M
2024
$36.7B
2025
Service imports
$1.04B
2024
$14.6B
2025
Service exports
$3.38B
2024
$17.2B
2025
Imports of goods and services, % of GDP n/a
58.6%
2025
Exports of goods and services, % of GDP
15%
2026
54.3%
2025

Economic freedom indices

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

Andorra Serbia
Economic freedom 72 65
Economic freedom ranking 28/197 68/197
Property rights n/a 57.2
Government integrity n/a 37.2
Judicial effectiveness n/a 50.1
Tax burden n/a 88
Government spending n/a 48.2
Fiscal health n/a 94.3
Business freedom n/a 73.6
Labor freedom n/a 61.8
Monetary freedom n/a 73
Trade freedom n/a 76.6
Investment freedom n/a 70
Financial freedom n/a 50

Other economic metrics

Andorra Serbia
Services, % of GDP
77.8%
2025
59.7%
2025
Industry, % of GDP
12.8%
2025
22.3%
2025
Agriculture, forestry, and fishing, % of GDP
0.48%
2025
3.29%
2025
GNI, Atlas method
$4.41B
2025
$88.3B
2025
GNI per capita, PPP
$80,950
2025
$31,780
2025
Total reserves including gold n/a
$34.2B
2025
Total reserves ranking n/a
55/177
2025
Net foreign direct investment
-$150M
2024
-$2.6B
2025
Net inflows of foreign direct investment
$268M
2024
$5.59B
2024
Net outflows of foreign direct investment
$118M
2024
$661M
2024
Servicing debt to the IMF, % of GNI n/a
12.2%
2024
Poverty at national poverty lines
8%
2008
19.7%
2023
Gross capital formation, % of GDP n/a
23.4%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/andorra/serbia | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1970–2026, retrieved 2026-07-08)
  2. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  3. Central Intelligence Agency (CIA) (1998–2020, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  5. TradeMap (2023–2025, retrieved 2026-07-08)
  6. International Monetary Fund (IMF) | Fiscal Monitor (2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.