Liechtenstein:
Economy

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Other pages in this profile of Liechtenstein:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


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

Liechtenstein: Economy

Liechtenstein:
Economy