Andorra unemployment 1.4% in Q3 2025 as GDP forecasts signal moderate growth

The unemployment rate in Andorra was 1.4% of the active population in the third quarter of 2025, with 801 people aged 15 to 74 recorded as unemployed, the Department of Statistics reported. That represents a fall of 0.3 percentage points year‑on‑year but an increase of 0.5 points compared with the previous quarter.

By sex, male unemployment fell 0.6 points year‑on‑year while the female rate rose 0.1 points. Quarter‑on‑quarter, unemployment increased 0.4 points for men and 0.5 points for women. The employment rate for residents aged 15 to 64 was estimated at 82.1%, equivalent to 53,387 employed people — 0.7 points lower than a year earlier but 0.5 points higher than in the second quarter. Male employment fell 0.8 points year‑on‑year and 0.2 points quarter‑on‑quarter; female employment decreased 0.5 points year‑on‑year but rose 1.3 points quarter‑on‑quarter.

Estimated salaried employment numbered 44,420, accounting for 83.2% of employed persons aged 15 to 64; that share increased 0.6 points year‑on‑year and 1.0 point quarter‑on‑quarter. The inactivity rate for the 15–64 age group stood at 16.6% (10,819 people), up 0.8 points year‑on‑year and down 1.0 point from the prior quarter. Male inactivity rose 1.3 points year‑on‑year and fell 0.2 points quarter‑on‑quarter; female inactivity rose 0.4 points year‑on‑year and declined 1.8 points quarter‑on‑quarter.

Among young people aged 15 to 24, the employment rate fell 4.4 points year‑on‑year but rose 7.3 points from the previous quarter, reflecting a seasonal recovery; youth unemployment declined by 2.0 points year‑on‑year and by 5.2 points quarter‑on‑quarter.

Compared with neighbouring economies in the third quarter, Andorra’s unemployment remained substantially lower: 1.4% in Andorra versus 10.4% in Spain, 7.9% in France and 6.0% for the EU‑27. Year‑on‑year, unemployment fell by 0.3 points in Andorra and by 0.8 points in Spain, while it rose by 0.2 points in both France and the EU‑27.

Separately, the Department of Statistics published new macroeconomic forecasts for 2025–2030 projecting moderate, stable growth. Real GDP is expected to rise between 1.5% and 2.8% annually, with a tendency to stabilise from 2027; nominal GDP growth is forecast at 3.7%–4.8% annually. Gross value added is projected to follow similar trends (1.4%–2.6% real growth), while the wage bill is expected to grow faster than GDP (around 4.0%–5.1% per year). The number of salaried employees is forecast to increase steadily, by roughly 1.8%–2.3% annually. The forecasts note that outcomes depend on the economic performance of neighbouring countries, and significant deviations there could affect Andorra’s trajectory.

Trade data included in the statistical release show imports for November rose 7.9% year‑on‑year to €184.09 million, lifting the year‑to‑date total by 7.8% (with a single annual decline in energy). Monthly exports rose 18.7% in November, though annual export flows fell 1%; seasonally adjusted figures showed imports broadly stable (+0.4%) and exports up 1.9% in November.

The statistical report also detailed social measures: in the second quarter of 2025, 177 applications were submitted for rental aid, 126 of which were approved (71.2%), with total aid awarded of €295,230.48 and an average annual amount per beneficiary of €2,343.10.