Economy overview: Despite its small size and limited natural resources, Liechtenstein has become a prosperous, highly industrialized free enterprise economy with an important financial services sector and living standards on par with the industrial areas of its large European neighbors. Low business taxes (the maximum tax rate is 18%) and simple registration rules have contributed to some 73,700 holding or so-called mailbox companies nominally opening offices in Liechtenstein, providing 30% of government revenue. The country is a member of a customs union with Switzerland and uses the Swiss franc as its national currency. The country imports more than 90% of the electricity it needs. Liechtenstein is part of the European Economic Area. See cheeroutdoor.com to know more about Liechtenstein Business.
GDP: Purchasing Power Parity $730 million (1998 est.)
Real GDP growth rate: no data available.
GDP per capita: Purchasing Power Parity $23,000 (1998 est.)
Composition of GDP by sectors of the economy: agriculture: no data; industry: no data; service sector: no data.
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 0.5% (1997 OC).
Work force: 22,891 people, of which 13,847 are foreigners; 8 231 people every day come to work from Austria and Switzerland.
Employment structure: industry, trade, construction 45%, services 53%, agriculture, fishing, forestry, gardening 2% (1997 est.).
Unemployment rate: 1.8% (February 1999).
Budget: revenues: $424.2 million; expenditures: $414.1 million, including capital expenditures – NA (1998 est.).
Spheres of economy: electronics, metalworking, textile industry, production of ceramics, medical goods, food products, high-precision instruments, tourism.
Growth in industrial production: no data available.
Electricity production: no data.
Sources of electricity generation: fossil fuels: no data available; hydropower: no data; nuclear fuel: no data; other: no data.
Electricity consumption: no data.
Export of electricity: no data.
Electricity import: no data.
Agricultural products: wheat, barley, corn, potatoes; livestock, dairy products.
Export: $2.47 billion (1996)
Export items: small specialized machines, dental products (materials and instruments), brands, electronic components, ceramic products.
Export partners: EU and EFTA countries 60.57% (Switzerland 15.7%) (1995).
Import: $917.3 million (1996).
Imports: machinery, metal products, textiles, foodstuffs, vehicles.
Import partners: EU countries, Switzerland (1996).
External debt: $0 (1996). Economic aid recipient: no.
Economic aid donor:
Currency: Swiss franc.
Currency code: CHF.
Exchange rate: SFR/USD – 1.6303 (January 2001), 1.6888 (2000), 1.5022 (1999), 1.4498 (1998), 1.4513 (1997), 1.2360 (1996).
Fiscal year: calendar year.
Telecommunications Telephone lines: 20,000 (1997).
Mobile cellular phones: no data available.
Telephone system: automatic telephone system; internal: no data; international: connected to Swiss networks by cable and microwave radio relays.
Broadcast stations: AM – 0, FM – 4, shortwave -0 (1998).
Radio receivers: 21,000 (1997).
Television broadcast stations: no data (connected to Swiss networks) (1997).
TVs: 12,000 (1997).
Internet country code: li
Internet providers: 44 (Liechtenstein and Switzerland) (2000).
Number of users: no data.
Transport Railways: total: 18.5 km; note – owned, operated and accounted for by the Austrian Federal Railways; standard gauge: 18.5 km (1.435 m gauge) (electrified).
Roads: total: 250 km; coated: 250 km; unpaved: 0 km.
International issues International disputes:
Liechtenstein demands the return of 1,600 square kilometers from the Czech Republic that were confiscated from the princely family in 1918 of money.