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Liechtenstein Economy 2010
https://workmall.com/wfb2010/liechtenstein/liechtenstein_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Liechtenstein Economy 2010
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 25, 2010

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 the highest per capita income in the world. 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 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. Since 2008, Liechtenstein has come under renewed international pressure - particularly from Germany - to improve transparency in its banking and tax systems. Upon Liechtenstein's conclusion of 12 bilateral information-sharing agreements, the OECD in October 2009 removed the principality from its "grey list" of countries that had yet to implement the organization's Model Tax Convention.

GDP (purchasing power parity):
$4.16 billion (2007 est.)

$4.035 billion (2006 est.)

GDP (official exchange rate):
$4.993 billion (2007)

GDP - real growth rate:
3.1% (2007 est.)

GDP - per capita (PPP):
$122,100 (2007 est.)

GDP - composition by sector:
agriculture: 8%
industry: 39%
services: 54% (2007)

Labor force:
32,440 of whom 13,900 commute from Austria, Switzerland, and Germany to work each day (2007)

Labor force - by occupation:
agriculture: 1.7%
industry: 43.5%
services: 55.4% (31 December 2006)

Unemployment rate:
1.5% (31 December 2007 est.)

1.3% (September 2002)

Population below poverty line:
NA%

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 est.)

Market value of publicly traded shares:
$NA

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

Exports - commodities:
small specialty machinery, connectors for audio and video, parts for motor vehicles, dental products, hardware, prepared foodstuffs, electronic equipment, optical products

Imports:
$917.3 million

Imports - commodities:
agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, motor vehicles

Debt - external:
$0 (2001 est.)

Exchange rates:
Swiss francs (CHF) per US dollar - 1.1081 (2009), 1.0774 (2008), 1.1973 (2007), 1.2539 (2006), 1.2452 (2005)


NOTE: The information regarding Liechtenstein on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liechtenstein Economy 2010 information contained here. All suggestions for corrections of any errors about Liechtenstein Economy 2010 should be addressed to the CIA.






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