Liechtenstein

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. In 2008 Liechtenstein came under renewed international pressure - particularly from Germany - to improve transparency in its banking and tax systems.
GDP (purchasing power parity):
$4.16 billion (2007)
$4.035 billion (2006)
GDP (official exchange rate):
$4.993 billion (2007)
GDP - real growth rate:
3.1% (2007 est.)
GDP - per capita (PPP):
$118,000 (2007 est.)
GDP - composition by sector:
agriculture: 8%
industry: 39%
services: 54% (2007)
Labor force:
31,000 of whom 13,900 commute from Austria, Switzerland, and Germany to work each day (31 December 2006)
Labor force - by occupation:
agriculture: 1.7%
industry: 43.5%
services: 55.4% (31 December 2006)
Unemployment rate:
1.5% (31 December 2007)
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)
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 (1996)
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 (1996)
Imports - commodities:
agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, motor vehicles
Debt - external:
$0 (2001)
Exchange rates:
Swiss francs (CHF) per US dollar - 1.0774 (2008 est.), 1.1973 (2007), 1.2539 (2006), 1.2452 (2005), 1.2435 (2004)