exxun.com - Liechtenstein

Economy	Liechtenstein
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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 likely the second 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 faced renewed international pressure - particularly from Germany - to improve transparency in its banking and tax systems. In December 2008, Liechtenstein signed a Tax Information Exchange Agreement with the US. 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. By the end of 2010, Liechtenstein had signed 25 Tax Information Exchange Agreements or Double Tax Agreements. In 2011 Liechtenstein joined the Schengen area, which allows passport-free travel across 26 European countries.
GDP (purchasing power parity):	$5.028 billion (2008) $4.16 billion (2007) $4.035 billion (2006 est.)
GDP - per capita (PPP):	$141,100 (2008 est.) $122,100 (2007 est.)
GDP (official exchange rate):	$5.08 billion (2008)
GDP - real growth rate:	1.8% (2008 est.) 3.1% (2007 est.)
GDP - composition by sector:	agriculture: 6% industry: 36% services: 58% (2008)
Investment (gross fixed):	void
Population below poverty line:	NA%
Household income or consumption by percentage share:	lowest 10%: NA% highest 10%: NA%
Distribution of family income - Gini index:	void
Inflation rate (consumer prices):	0.7% (2010) 0.3% (2009)
Central bank discount rate:	void
Commercial bank prime lending rate:	void
Stock of money:	void
Stock of money - per capita:	void
Stock of quasi money:	void
Stock of quasi money - per capita:	void
Stock of domestic credit:	void
Stock of domestic credit - per capita:	void
Stock of narrow money:	void
Stock of broad money:	void
Labor force:	32,880 (2009) note: 51% of people at work in Liechtenstein commute daily from Austria, Switzerland, and Germany (2009)
Labor force participation rate:	93.31 % of population
Labor force - by occupation:	agriculture: 1.5% industry: 43.5% services: 55% (December 2006)
Unemployment rate:	1.5% (2007) 1.3% (September 2002)
Unemployment, youth ages 15-24:	void
Budget:	revenues: $943 million expenditures: $820 million (2008 est.)
Budget revenues per capita:	26,763 USD per capita
Taxes and other revenues:	18.6% of GDP (2008 est.)
Budget surplus (+) or deficit (-):	2.4% of GDP (2008 est.)
Public debt:	void
Industries:	electronics, metal manufacturing, dental products, ceramics, pharmaceuticals, food products, precision instruments, tourism, optical instruments
Industrial production growth rate:	NA%
Electricity - production:	void
Electricity - production per capita:	void
Electricity - consumption:	void
Electricity - consumption - per capita:	void
Electricity - exports:	void
Electricity - imports:	void
Oil - production:	void
Oil - production per capita:	void
Oil - consumption:	void
Oil - consumption - per capita:	void
Oil - exports:	void
Oil - imports:	void
Oil - proved reserves:	void
Natural gas - production:	void
Natural gas - production per capita:	void
Natural gas - consumption:	void
Natural gas - consumption - per capita:	void
Natural gas - exports:	void
Natural gas - imports:	void
Natural gas - proved reserves:	void
Agriculture - products:	wheat, barley, corn, potatoes; livestock, dairy products
Current account balance:	void
Current account balance - per capita:	void
Exports:	$2.83 billion (2009) $3.92 billion (2008)
Exports per capita:	80,316 USD per capita
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:	void
Imports:	$1.77 billion (2009) $2.59 billion (2008)
Imports per capita:	50,233 USD per capita
Imports - commodities:	agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, motor vehicles
Imports - partners:	void
Reserves of foreign exchange and gold:	void
Reserves of foreign exchange and gold - per capita:	void
Debt - external:	$0 (2001)
Debt - external - per capita:	void
Stock of direct foreign investment - at home:	void
Stock of direct foreign investment - at home - per capita:	void
Stock of direct foreign investment - abroad:	void
Stock of direct foreign investment - abroad - per capita:	void
Market value of publicly traded shares:	$NA
Market value of publicly traded shares - per capita:	void
Currency (code):	Swiss franc (CHF)
Exchange rates:	Swiss francs (CHF) per US dollar - 0.8723 (2011) 1.0429 (2010) 1.0881 (2009) 1.0774 (2008) 1.1973 (2007)
Fiscal year:	calendar year

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This page was last updated on 3 February, 2012

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