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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 living standards on a par with the urban areas of its large European neighbors. Low business taxes - the maximum tax rate is 18% - and easy incorporation rules have induced 73,700 holding or so-called letter box 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 European Free Trade Association (EFTA) and EU) since May 1995. The government is working to harmonize its economic policies with those of an integrated Europe.
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| GDP: |
purchasing power parity - $730 million (1998 est.)
|
| GDP - real growth rate: |
NA%
|
| GDP - per capita: |
purchasing power parity - $23,000 (1998 est.)
|
| GDP - composition by sector: |
agriculture:
NA%
industry:
NA%
services:
NA%
|
| Population below poverty line: |
NA%
|
| Household income or consumption by percentage share: |
lowest 10%:
NA%
highest 10%:
NA%
|
| Inflation rate (consumer prices): |
0.5% (1997 est.)
|
| Labor force: |
22,891 of which 13,847 are foreigners; 8,231 commute from Austria and Switzerland to work each day
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| Labor force - by occupation: |
industry, trade, and building 45%, services 53%, agriculture, fishing, forestry, and horticulture 2% (1997 est.)
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| Unemployment rate: |
1.8% (February 1999)
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| Budget: |
revenues:
$424.2 million
expenditures:
$414.1 million, including capital expenditures of $NA (1998 est.)
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| Industries: |
electronics, metal manufacturing, textiles, ceramics, pharmaceuticals, food products, precision instruments, tourism
|
| Industrial production growth rate: |
NA%
|
| Electricity - production by source: |
fossil fuel:
NA%
hydro:
NA%
nuclear:
NA%
other:
NA%
|
| Electricity - consumption: |
NA kWh
|
| Electricity - exports: |
NA kWh
|
| Electricity - imports: |
NA kWh
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| Agriculture - products: |
wheat, barley, corn, potatoes; livestock, dairy products
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| Exports: |
$2.47 billion (1996)
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| Exports - commodities: |
small specialty machinery, dental products, stamps, hardware, pottery
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| Exports - partners: |
EU and EFTA countries 60.57% (Switzerland 15.7%) (1995)
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| Imports: |
$917.3 million (1996)
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| Imports - commodities: |
machinery, metal goods, textiles, foodstuffs, motor vehicles
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| Imports - partners: |
EU countries, Switzerland (1996)
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| Debt - external: |
$0 (1996)
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| Economic aid - recipient: |
none
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| Currency: |
Swiss franc (CHF)
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| Exchange rates: |
Swiss francs per US dollar - 1.6303 (January 2001), 1.6888 (2000), 1.5022 (1999), 1.4498 (1998), 1.4513 (1997), 1.2360 (1996)
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| Fiscal year: |
calendar year
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