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    Liechtenstein Economy - 1991

      Overview: The prosperous economy is based primarily on small-scale light industry and tourism. 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. 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 30% of state revenues. The economy is tied closely to that of Switzerland in a customs union, and incomes and living standards parallel those of the more prosperous Swiss groups.

      GDP: $630 million, per capita $22,300; real growth rate NA% (1990 est.)

      Inflation rate (consumer prices): 3.0% (1989 est.)

      Unemployment rate: 0.1% (December 1986)

      Budget: revenues $240 million; expenditures $197 million, including capital expenditures of NA (1988)

      Exports: $1.28 billion (1988); commodities--small specialty machinery, dental products, stamps, hardware, pottery; partners--EC 40%, EFTA 22% (Switzerland 18%) (1988)

      Imports: $NA; commodities--machinery, metal goods, textiles, foodstuffs, motor vehicles; partners--NA

      External debt: $NA

      Industrial production: growth rate NA%

      Electricity: 23,000 kW capacity; 150 million kWh produced, 5,340 kWh per capita (1989)

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

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

      Economic aid: none

      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--1.2724 (January 1991), 1.3892 (1990), 1.6359 (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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liechtenstein Economy 1991 information contained here. All suggestions for corrections of any errors about Liechtenstein Economy 1991 should be addressed to the CIA.

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