Liechtenstein Economy 2001

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 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 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: Swiss franc (CHF)

Currency code: CHF

Exchange rates: Swiss francs per US dollar - 1.6303 (January 2001), 1.6888 (2000), 1.5022 (1999), 1.4498 (1998), 1.4513 (1997), 1.2360 (1996)

Fiscal year: calendar year

NOTE: The information regarding Liechtenstein on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liechtenstein Economy 2001 information contained here. All suggestions for corrections of any errors about Liechtenstein Economy 2001 should be addressed to the CIA.