The Andorran economy is based on tourism and services. In 2002 a total of 11,507,698 persons visited the Principality attracted by the exceptional natural environment, leisure activities available and the consumer prices which particularly for luxury and high added value products are more competitive than those in neighbouring countries.

Banking has an important place in Andorra which has seven banks: BANCA MORA-BANC INTERNACIONAL, BANCA REIG, BANCA PRIVADA D’ANDORRA, BANC AGRÍCOL I COMERCIAL, CAIXABANK, CRÈDIT ANDORRÀ and BANC DE SABADELL. One should note that BANK SECRET is rigorously applied in the Principality of Andorra.

Some handy figures Consumer price increase for 2003: 2,88 % Minimum guaranteed wage (2004) 783,47 euros. Social security contributions: 13% paid by the employer and 6% by the employee. Number of shops: 6086. Import flow: 171,262,243,000 PTA Export flow: 6,690,597,000 PTA

� CSA Andorran Solicitors (lawyers)