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LIECHTENSTEIN
COUNTRIES A-Z
Liechtenstein Economy
Country Name: Principality of Liechtenstein
Capital City: Vaduz
Population: 33,987 (2006)
Population Growth: 0.78% (2006)
Currency: Swiss franc (CHF)
Languages: German
Area: 160 sq km
Inflation Rate: 1% (2001)
Unemployment Rate: 1.3% (September 2002)
Domain extension: .li
ECONOMIC DETAILS OF LIECHTENSTEIN
ECONOMY OVERVIEW
Despite its small size and limited natural resources, Liechtenstein has developed into a prosperous, highly industrialized, free-enterprise economy with a vital financial service sector and living standards on a par with its large European neighbors. The Liechtenstein economy is widely diversified with a large number of small businesses. Low business taxes - the maximum tax rate is 20% - and easy incorporation rules have induced many holding or so-called letter box companies to establish nominal offices in Liechtenstein, providing 30% of state revenues. The country participates in a customs union with Switzerland and uses the Swiss franc as its national currency. It imports more than 90% of its energy requirements. Liechtenstein has been a member of the European Economic Area (an organization serving as a bridge between the European Free Trade Association (EFTA) and the EU) since May 1995. The government is working to harmonize its economic policies with those of an integrated Europe.
Despite its small size and limited natural resources, Liechtenstein has developed into a prosperous, highly industrialized, free-enterprise economy with a vital financial service sector and living standards on a par with its large European neighbors. The Liechtenstein economy is widely diversified with a large number of small businesses. Low business taxes - the maximum tax rate is 20% - and easy incorporation rules have induced many holding or so-called letter box companies to establish nominal offices in Liechtenstein, providing 30% of state revenues. The country participates in a customs union with Switzerland and uses the Swiss franc as its national currency. It imports more than 90% of its energy requirements. Liechtenstein has been a member of the European Economic Area (an organization serving as a bridge between the European Free Trade Association (EFTA) and the EU) since May 1995. The government is working to harmonize its economic policies with those of an integrated Europe.
GDP - purchasing power parity:
$1.786 billion (2001 est.)
GDP - real growth rate:
11% (1999 est.)
GDP - per capita:
$25,000 (1999 est.)
GDP - by sector (agriculture):
agriculture: 6%
GDP - by sector (industry):
industry: 39%
GDP - by sector (services):
services: 55% (2001)
Export Partners:
EU 62.6% (Germany 24.3%, Austria 9.5%, France 8.9%, Italy 6.6%, UK 4.6%), US 18.9%, Switzerland 15.7% (2006)
Import Partners:
EU, Switzerland (2006)
Export Commodities:
small specialty machinery, connectors for audio and video, parts for motor vehicles, dental products, hardware, prepared foodstuffs, electronic equipment, optical products
Import Commodities:
agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, motor vehicles
Exports Volume:
$2.47 billion (1996)
Imports Volume:
$917.3 million (1996)
Labour Force:
29,500 of whom 13,900 commute from Austria, Switzerland, and Germany to work each day (31 December 2001)
Unemployment Rate:
1.3% (September 2002)
Population below poverty line:
NA%
Inflation Rate:
1% (2001)
Investment (gross fixed):
Public Debt:
Agriculture Products:
wheat, barley, corn, potatoes; livestock, dairy products
Industries:
electronics, metal manufacturing, dental products, ceramics, pharmaceuticals, food products, precision instruments, tourism, optical instruments
Industrial Production Growth Rate:
NA%
Electricity - production:
Electricity - consumption:
Electricity - exports:
Electricity - imports:
Oil - production:
Oil - consumption:
Oil - exports:
Oil - imports:
Natural gas - production:
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Current Account Balance:
Currency Code:
Swiss franc (CHF)