Economy of Liechtenstein
Liechtenstein is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Liechtenstein is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Liechtenstein exports around $3.8 billion and imports roughly $2.09 billion. 1.9% of population in the country are unemployed. The total number of unemployed people in Liechtenstein is 725. Government expenditure on education is 2% of GDP. The Gini Index of the country is 35.5. Liechtenstein is experiencing good equality. The majority of citizens in Liechtenstein fall within a narrow range of income, although some cases may show significant differences. Liechtenstein has a Human Development Index (HDI) of 0.889. Liechtenstein has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society.
The currency of Liechtenstein is Swiss franc. The Swiss franc is the official currency of Switzerland and Liechtenstein. It was introduced in 1798 to unify several currencies that were in use in Switzerland at the time. Switzerland is a stable currency that can be relied upon for investment opportunities. The plural form of the word Swiss franc is francs. The symbol used for this currency is Fr, and it is abbreviated as CHF. The Swiss franc is divided into Rappen; there are 100 in one franc.
According to the S&P credit-rating agency, Liechtenstein has a credit rating score of AAA, and the prospects of this rating are stable.
In Liechtenstein, the institution that manages the state's currency, money supply, and interest rates is called National bank of Liechtenstein. Locally, the central bank of Liechtenstein is called Liechtensteinische Landesbank.
Liechtenstein has a government debt of 111.4% of the country's Gross Domestic Product (GDP), as assessed in 2012.
The corporate tax in Liechtenstein is set at 12.5%. Personal income tax ranges from 1.2% to 17.82%, depending on your specific situation and income level. VAT in Liechtenstein is 8%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Liechtenstein is $3.2 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Liechtenstein was last recorded at $0 million. PPP in Liechtenstein is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Liechtenstein is 5,647 billion. Based on this statistic, Liechtenstein is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Liechtenstein was last recorded at $148 million. The average citizen in Liechtenstein has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Liechtenstein averaged 1.8% in 2014. According to this percentage, Liechtenstein is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Liechtenstein.
Major industries in the country are electronics, metal manufacturing, dental products, ceramics, pharmaceuticals, food products, precision instruments, tourism, optical instruments. The total labor force of Liechtenstein is 38,520 people, wherein 1.9% of population in the country are unemployed. The total number of unemployed people in Liechtenstein is 725. To read more about industrial information within Liechtenstein click on industry of Liechtenstein.
There are 40 km2 of arable land in Liechtenstein, and it comprises 25% of the country's total territory. There are 40 km2 of cultivated land in Liechtenstein. The country's major agricultural crops and products are wheat, barley, corn, potatoes, livestock, dairy products.To read more about agriculture click on agriculture of Liechtenstein.