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Liechtenshein Economy 2008

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

NOTE: The economy information regarding Liechtenshein on this page is re-published from the 2008 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liechtenshein Economy 2008 information contained here. All suggestions for corrections of any errors about Liechtenshein Economy 2008 should be addressed to the CIA.