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Liechtenstein Economy: from the All Country Info reference guide to country facts

Liechtenstein Economy

Liechtenstein Economy: A summary of information about Liechtenstein Economy, from government research data as well as independent research and other sources.

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Liechtenstein: Economy

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 the urban areas of its large
European neighbors. Low business taxes - the maximum tax rate is 18% -
and easy incorporation rules have induced about 73,700 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 European Free Trade
Association (EFTA) and EU) since May 1995. The government is working
to harmonize its economic policies with those of an integrated Europe.
GDP
purchasing power parity - $730 million (1998 est.)
GDP - real growth rate
NA%
GDP - per capita
purchasing power parity - $23,000 (1998 est.)
GDP - composition by sector
agriculture: NA%
industry: NA%
services: NA%
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
0.5% (1997 est.)
Labor force
22,891 of which 13,847 are foreigners; 8,231 commute from
Austria and Switzerland to work each day
Labor force - by occupation
industry, trade, and building 45%,
services 53%, agriculture, fishing, forestry, and horticulture 2%
(1997 est.)
Unemployment rate
1.8% (February 1999)
Budget
revenues: $424.2 million
expenditures: $414.1 million, including capital expenditures of $NA
(1998 est.)
Industries
electronics, metal manufacturing, textiles, ceramics,
pharmaceuticals, food products, precision instruments, tourism
Industrial production growth rate
NA%
Electricity - production
150 million kWh (1995)
Electricity - production by source
fossil fuel: NA%
hydro: NA%
nuclear: NA%
other: NA%
Electricity - consumption
NA kWh
Electricity - exports
NA kWh
Electricity - imports
NA kWh
Agriculture - products
wheat, barley, corn, potatoes; livestock,
dairy products
Exports
$2.47 billion (1996)
Exports - commodities
small specialty machinery, dental products,
stamps, hardware, pottery
Exports - partners
EU and EFTA countries 60.57% (Switzerland 15.7%)
(1995)
Imports
$917.3 million (1996)
Imports - commodities
machinery, metal goods, textiles, foodstuffs,
motor vehicles
Imports - partners
EU countries, Switzerland (1996)
Debt - external
$0 (1996)
Economic aid - recipient
none
Currency
1 Swiss franc, franken, or franco (SFR) = 100 centimes,
rappen, or centesimi
Exchange rates
Swiss francs, franken, or franchi (SFR) per US$1 -
1.5878 (January 2000), 1.5022 (1999), 1.4498 (1998), 1.4513 (1997),
1.2360 (1996), 1.1825 (1995)
Fiscal year
calendar year
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