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    Liechtenstein Economy - 1989

      Overview: The prosperous economy is based primarily on small-scale light industry and some farming. Industry accounts for 54% of total employment, the service sector 42% (mostly based on tourism), and agriculture and forestry 4%. The sale of postage stamps to collectors is estimated at $10 million annually and accounts for 10% of revenues. Low business taxes (the maximum tax rate is 20%) and easy incorporation rules have induced about 25,000 holding or so-called letter box companies to establish nominal offices in Liechtenstein. Such companies, incorporated solely for tax purposes, provide an additional 30% of state revenues. The economy is tied closely to that of Switzerland in a customs union, and no national accounts data are available.

      GNP: $405 million, per capita $15,000; real growth rate NA% (1984 est.)

      Inflation rate (consumer prices): 1.5% (1987 est.)

      Unemployment rate: 0.1% (December 1986)

      Budget: revenues $171 million; expenditures $189 million, including capital expenditures of NA (1986)

      Exports: $807 million; @m5commodities--small specialty machinery, dental products, stamps, hardware, pottery; @m5partners--EC 40%, EFTA 26% (Switzerland 19%) (1986)

      Imports: $NA; @m5commodities--machinery, metal goods, textiles, foodstuffs, motor vehicles; @m5partners--NA

      External debt: $NA

      Industrial production: growth rate NA%

      Electricity: 23,000 kW capacity; 150 million kWh produced, 5,390 kWh per capita (1988)

      Industries: electronics, metal manufacturing, textiles, ceramics, pharmaceuticals, food products, precision instruments, tourism

      Agriculture: livestock, vegetables, corn, wheat, potatoes, grapes

      Aid: NA

      Currency: Swiss franc, franken, or franco (plural--francs, franken, or franchi); 1 Swiss franc, franken, or franco (SwF) = 100 centimes, rappen, or centesimi

      Exchange rates: Swiss francs, franken, or franchi (SwF) per US$1--1.5590 (January 1989), 1.4633 (1988), 1.4912 (1987), 1.7989 (1986), 2.4571 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Liechtenstein on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liechtenstein Economy 1989 information contained here. All suggestions for corrections of any errors about Liechtenstein Economy 1989 should be addressed to the CIA.

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