Liechtenstein

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. 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.

$4.16 billion (2007)

$4.035 billion (2006 est.)

$4.603 billion (2007)

3.1% (2007 est.)

$122,100 (2007 est.)

32,440 of whom 16,200 commute from Austria, Switzerland, and Germany to work each day (2008)

1.5% (31 December 2007)

1.3% (September 2002)

NA%

0.5% (2009)

$NA

wheat, barley, corn, potatoes; livestock, dairy products

electronics, metal manufacturing, dental products, ceramics, pharmaceuticals, food products, precision instruments, tourism, optical instruments

NA%

$3.92 billion (2008)

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

$2.59 billion (2008)

agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, motor vehicles

$0 (2001)

Swiss francs (CHF) per US dollar - 1.0723 (2010), 1.0881 (2009), 1.0774 (2008), 1.1973 (2007), 1.2539 (2006)