Liechtenstein is a member of EFTA and joined the European Economic Area (EEA) in 1995 in order to benefit from the EU internal market. The liberal economy and tax-system make Liechtenstein a safe, trustworthy and success-oriented place for private and business purposes, especially with its highly modern, internationally laid-out infrastructure and nearby connections to the whole world.

The Principality of Liechtenstein has gone through economic and cultural development in the last 40 years like no other Western country. In this short period of time Liechtenstein developed from mainly an agricultural state to one of the most highly industrialized countries in the world.

Besides its efficient industry, there is also as a strong services sector. Four out of ten employees work in the services sector, a relatively high proportion of whom are foreigners, including those who commute across the border from the neighboring states of Switzerland and Austria. Industrial exports doubled in ten years from $1.4 billion (SFr. 2.2 billion) in 1990 to $2.9 billion (SFr. 4.6 billion) in 2000, but later dropped to $1.8 billion (SFr.2.8 billion) in 2002. 12.7% of Liechtensteinís goods are exported to Switzerland, 42.1% to the EU, and 45.2% to the rest of the world. Liechtenstein imports more than 90% of its energy requirements. The Liechtenstein industry sector contributes to 40% of the country's GDP, followed by banking and finance (30%), services (25%), and agriculture (5%).

In 2002, the U.S. was the third most important trading partner for Liechtenstein, with approximately $334 million (SFr. 434 million) worth of imports and $35 million (SFr.44.5 million) for exports. Germany was first with a total trade value of $747 million (SFr. 971 million) and Austria third with $454 million (SFr. 590 million). Although Switzerland is an important trading partner, trade statistics are unavailable because both countries share a customs union.

Approximately 5% of the countryís revenue is invested in research and development, one of the driving forces of the success of Liechtenstein's economy. Total R&D spending in 2000 rose by 20.7% to approximately $149 million (194 million SFr.).

The Principality of Liechtenstein is also known as an important financial center, primarily because it specializes in financial services for foreign entities. The country's low tax rate, loose incorporation and corporate governance rules, and traditions of strict bank secrecy have contributed significantly to the ability of financial intermediaries in Liechtenstein to attract funds from outside the country's borders. The same factors made the country attractive and vulnerable to money launderers, although late 2000 legislation has strengthened regulatory oversight of illicit funds transfers.

Liechtenstein has chartered 17 banks, 3 non-bank financial companies, and 71 public investment companies, as well as insurance and reinsurance companies. Its 270 licensed fiduciary companies and 81 lawyers serve as nominees for, or manage, more than 75,000 entities (primarily corporations, institutions, or trusts), mostly for non-Liechtenstein residents. Approximately one-third of these entities hold the controlling interest in other entities, chartered in countries other than Liechtenstein. The Principality's laws permit the corporations it charters to issue bearer shares. Until recently, the Principality's banking laws permitted banks to issue numbered accounts, but new regulations require strict know-your-customer practices for all accounts.