Liechtenstein Economy Facts
Liechtenstein is one of the world’s richest countries in terms of gross domestic product (GDP) per inhabitant. However, the figure is not really clear, as more than half the workforce lives in one of the neighboring countries. The economy is closely linked to Switzerland.
The currency is Swiss Franc and the two neighboring countries have long had a customs union. Government revenues cover expenditure more than well and inflation is generally low as is unemployment.
- Countryaah.com: Major imports by Liechtenstein, covering a full list of top products imported by the country and trade value for each product category.
Liechtenstein is largely associated with the service industry that holds the important banking and financial sectors. Finance companies have been attracted to the country through low taxes and a banking secrecy that has been one of the world’s strictest. But the secrecy has also attracted organized crime such as “laundered money” through bank accounts in Liechtenstein. Other Western countries have pushed for asserted privacy, stricter legislation and tougher surveillance.
Hundreds of millionaires live in the country. The princely family, which owns, among other things, the largest bank LGT, has assets that are believed to amount to billions.
- Abbreviationfinder.org: Check this abbreviation website to find three letter ISO codes for all countries in the world, including LIE which represents the country of Liechtenstein. Check findjobdescriptions to learn more about Liechtenstein.
Liechtenstein has more companies than inhabitants: some 75,000 foreign so-called mailbox companies have established themselves in Vaduz for tax reasons. Fees on their operations account for up to one-third of the principal’s revenue each year.
FACTS – FINANCE
GDP per person
US $ 165,028 (2016)
US $ 6,215 million (2016)
-1.2 percent (2009)