Despite its small size and limited natural resources, liechtenstein has developed into a prosperous, highly industrialized, free-enterprise economy with a vital financial service sector and living standards on a par with its large european neighbors. the liechtenstein economy is widely diversified with a large number of small businesses. low business taxes - the maximum tax rate is 20% - and easy incorporation rules have induced many holding or so-called letter box companies to establish nominal offices in liechtenstein, providing 30% of state revenues. the country participates in a customs union with switzerland and uses the swiss franc as its national currency. it imports more than 90% of its energy requirements. liechtenstein has been a member of the european economic area (an organization serving as a bridge between the european free trade association (efta) and the eu) since may 1995. the government is working to harmonize its economic policies with those of an integrated europe.
34,498 (july 2008 est.)
Central europe, between austria and switzerland
Total: 160 sq km land: 160 sq km water: 0 sq km
About 0.9 times the size of washington, dc
Conventional long form: principality of liechtenstein conventional short form: liechtenstein local long form: fuerstentum liechtenstein local short form: liechtenstein
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