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Liechtenstein Economy 2012
https://immigration-usa.com/world_fact_book_2012/liechtenstein/liechtenstein_economy.html
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 23,

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)
country comparison to the world: 164

$4.16 billion (2007)
$4.035 billion (2006 est.)
[see also: GDP country ranks ]

GDP (official exchange rate):
$5.08 billion (2008)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.8% (2008 est.)
country comparison to the world: 159

3.1% (2007 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$141,100 (2008 est.)
country comparison to the world: 1

$122,100 (2007 est.)
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 36%
[see also: GDP - composition by sector - industry country ranks ]
services: 58% (2008)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
32,880 (2009)
country comparison to the world: 201
note: 51% of people at work in Liechtenstein commute daily from Austria, Switzerland, and Germany (2009)
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 43.5%
[see also: Labor force - by occupation - industry country ranks ]
services: 55% (December 2006)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
1.5% (2007)
country comparison to the world: 8

1.3% (September 2002)
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $943 million
[see also: Budget revenues country ranks ]
expenditures: $820 million (2008 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
18.6% of GDP (2008 est.)
country comparison to the world: 166
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
2.4% of GDP (2008 est.)
country comparison to the world: 20
[see also: Budget surplus (+) or deficit (-) country ranks ]

Inflation rate (consumer prices):
0.7% (2010)
country comparison to the world: 8

0.3% (2009)
[see also: Inflation rate (consumer prices) country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

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%
[see also: Industrial production growth rate country ranks ]

Exports:
$2.83 billion (2009)
country comparison to the world: 126

$3.92 billion (2008)
[see also: Exports country ranks ]

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

Imports:
$1.77 billion (2009)
country comparison to the world: 162

$2.59 billion (2008)
[see also: Imports country ranks ]

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

Debt - external:
$0 (2001)
country comparison to the world: 201
[see also: Debt - external country ranks ]

Exchange rates:
Swiss francs (CHF) per US dollar -

0.8723 (2011)
1.0429 (2010)
1.0881 (2009)
1.0774 (2008)
1.1973 (2007)


NOTE: The information regarding Liechtenstein on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liechtenstein Economy 2012 information contained here. All suggestions for corrections of any errors about Liechtenstein Economy 2012 should be addressed to the CIA.


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