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Liechtenstein

Capital Vaduz
Area Sq Km 160
Area Sq Miles 62
Population 32 000
Languages German
Religions Protestant, Roman, Catholic
Currency Swiss franc
National Day

Liechtenstein

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Economy Overview
The population of Liechtenstein is one of the world's most prosperous. Dairy and arable farming accounts for the bulk of Liechtenstein's agriculture. Manufacturing industry processes and recycles metals, producing machine tools and precision instruments. Financial services are the fastest growing part of the economy: over 75,000 foreign corporations have taken advantage of the principality's banking secrecy laws to establish nominee companies which pay low taxes on both income and profits. Fees from these companies provide about one-third of government revenues. International pressure has obliged the authorities to introduce some measures to deal with money laundering and other financial malpractice. With a very small domestic market, Liechtenstein has a large balance of payments surplus. The country has vital economic links with Switzerland, based upon a customs union, and uses the Swiss franc as currency. Liechtenstein joined the European Free Trade Association (EFTA) in 1991 and the European Economic Area (EEA), the body established by amalgamating the EU and EFTA, in May 1995. Other than Switzerland, almost all Liechtenstein's trade is conducted with members of the EU.  
Government
The single-chamber assembly, the Landtag, has 25 members directly elected every four years by proportional representation. The sovereign, a hereditary monarch, is head of state.

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