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Liechtenstein:
Economy

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Economy - overview
Definition
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)
Definition - World rank and map
$1.786 billion (2001 est.)
GDP (official exchange rate)
Definition
$36.33 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
11% (1999 est.)
GDP - per capita
Definition - World rank and map
$25,000 (1999 est.)
GDP - composition by sector
Definition
agriculture: 6%
industry: 39%
services: 55% (2001)
Labor force
Definition
29,500 of whom 13,900 commute from Austria, Switzerland, and Germany to work each day (31 December 2001)
Labor force - by occupation
Definition
agriculture: 2%
industry: 47%
services: 51% (31 December 2001)
Unemployment rate
Definition - World rank and map
1.3% (September 2002)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
1% (2001)
Budget
Definition
revenues: $424.2 million
expenditures: $414.1 million (1998 est.)
Agriculture - products
Definition
wheat, barley, corn, potatoes; livestock, dairy products
Industries
Definition
electronics, metal manufacturing, dental products, ceramics, pharmaceuticals, food products, precision instruments, tourism, optical instruments
Industrial production growth rate
Definition - World rank and map
NA%
Exports
Definition - World rank and map
$2.47 billion (1996)
Exports - commodities
Definition
small specialty machinery, connectors for audio and video, parts for motor vehicles, dental products, hardware, prepared foodstuffs, electronic equipment, optical products
Exports - partners
Definition
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)
Imports
Definition - World rank and map
$917.3 million (1996)
Imports - commodities
Definition
agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, motor vehicles
Imports - partners
Definition
EU, Switzerland (2006)
Debt - external
Definition - World rank and map
$0 (2001)
Market value of publicly traded shares
Definition
$NA
Currency (code)
Definition
Swiss franc (CHF)
Exchange rates
Definition
Swiss francs per US dollar - 1.1973 (2007), 1.2539 (2006), 1.2452 (2005), 1.2435 (2004), 1.3467 (2003)
Fiscal year
Definition
calendar year


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