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The Principality of Liechtenstein was established within the Holy Roman Empire in 1719. Occupied by both French and Russian troops during the Napoleonic Wars, it became a sovereign state in 1806 and joined the Germanic Confederation in 1815. Liechtenstein became fully independent in 1866 when the Confederation dissolved. Until the end of World War I, it was closely tied to Austria, but the economic devastation caused by that conflict forced Liechtenstein to enter into a customs and monetary union with Switzerland. Since World War II (in which Liechtenstein remained neutral), the country's low taxes have spurred outstanding economic growth. In 2000, shortcomings in banking regulatory oversight resulted in concerns about the use of financial institutions for money laundering. However, Liechtenstein implemented anti-money laundering legislation and a Mutual Legal Assistance Treaty with the US that went into effect in 2003.

Location

Central Europe, between Austria and Switzerland

Natural Resources

hydroelectric potential, arable land

Population - distribution

most of the population is found in the western half of the country along the Rhine River

German 94.5% (official) (Alemannic is the main dialect), Italian 1.1%, other 4.3% (2010 est.)
VADUZ (capital) 5,000 (2014)
Conventional long form
Principality of Liechtenstein
Conventional short form
Liechtenstein
Local long form
Fuerstentum Liechtenstein
Local short form
Liechtenstein
constitutional monarchy
Name
Vaduz
Geographic coordinates
47 08 N, 9 31 E
Time difference
UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
Daylight saving time
+1hr, begins last Sunday in March; ends last Sunday in October
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Despite its small size and lack of natural resources, Liechtenstein has developed into a prosperous, highly industrialized, free-enterprise economy with a vital financial service sector and the third highest per capita income in the world, after Qatar and Luxembourg. The Liechtenstein economy is widely diversified with a large number of small businesses. Low business taxes - a flat tax of 12.5% on the income is applied - and easy incorporation rules have induced many holding companies to establish nominal offices in Liechtenstein, providing 30% of state revenues.
Inflation
None%
Total tax rate (% of commercial profits)
None%
Real Interest Rate
None%
Manufacturing, value added (% of GDP)
None%
Current Account Balance
US$
Labor Force, Total
Employment in Agriculture
%
Employment in Industry
%
Employment in Services
%
Unemployment Rate
%
Imports of goods and services
US$
Exports of goods and services
US$
Total Merchandise Trade
%
FDI, net inflows
US$
Commercial Service Exports
US$
wheat, barley, corn, potatoes; livestock, dairy products
electronics, metal manufacturing, dental products, ceramics, pharmaceuticals, food products, precision instruments, tourism, optical instruments
Commodities
small specialty machinery, connectors for audio and video, parts for motor vehicles, dental products, hardware, prepared foodstuffs, electronic equipment, optical products
Partners
Commodities
agricultural products, raw materials, energy products, machinery, metal goods, textiles, foodstuffs, motor vehicles
Partners
Country Risk Rating
Business Climate Rating

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