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NAVIGATION
Principality of Liechtenstein
Fuerstentum Liechtenstein
GOVERNMENT
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Country name:
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conventional long form: Principality of Liechtenstein
conventional short form: Liechtenstein local short form: Liechtenstein local long form: Fuerstentum Liechtenstein |
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Government type:
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hereditary constitutional monarchy on a democratic and parliamentary basis |
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Capital:
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Vaduz |
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Administrative divisions:
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11 communes (Gemeinden, singular - Gemeinde); Balzers, Eschen, Gamprin, Mauren, Planken, Ruggell, Schaan, Schellenberg, Triesen, Triesenberg, Vaduz |
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Independence:
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23 January 1719 Imperial Principality of Liechtenstein established; 12 July 1806 established independence from the Holy Roman Empire |
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National holiday:
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Assumption Day, 15 August |
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Constitution:
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5 October 1921 |
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Legal system:
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local civil and penal codes; accepts compulsory ICJ jurisdiction, with reservations |
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Suffrage:
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18 years of age; universal |
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Executive branch:
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chief of state: Prince HANS ADAM II (since 13 November 1989, assumed executive powers 26 August 1984); Heir Apparent Prince ALOIS, son of the monarch (born 11 June 1968)
elections: none; the monarch is hereditary; following legislative elections, the leader of the majority party in the Diet is usually appointed the head of government by the monarch and the leader of the largest minority party in the Diet is usually appointed the deputy head of government by the monarch cabinet: Cabinet elected by the Parliament, confirmed by the monarch head of government: Head of Government Otmar HASLER (since 5 April 2001) and Deputy Head of Government Rita KIEBER-BECK (since 5 April 2001) |
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Legislative branch:
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unicameral Parliament or Landtag (25 seats; members are elected by direct, popular vote under proportional representation to serve four-year terms)
election results: percent of vote by party - FBP 49.90%, VU 41.35%, FL 8.71%; seats by party - FBP 13, VU 11, FL 1 elections: last held 11 February 2001 (next to be held by NA 2005) |
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Judicial branch:
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Supreme Court or Oberster Gerichtshof; Court of Appeal or Obergericht |
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Political parties and leaders:
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Fatherland Union or VU [Dr. Heinz FROMMELT]; Progressive Citizens' Party or FBP [Johannes MATT]; The Free List or FL [Dr. Pepo FRICK, Karin JENNY, Rene HASLER] |
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Political pressure groups and leaders:
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NA |
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International organization participation:
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CE, EBRD, ECE, EFTA, IAEA, ICRM, IFRCS, Interpol, IOC, ITU, OPCW, OSCE, PCA, UN, UNCTAD, UPU, WIPO, WTrO |
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Diplomatic representation in the US:
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chief of mission: Ambassador Claudia FRITSCHE
chancery: 1300 Eye Street NW, Suite 550W, Washington, DC 20005 telephone: [1] (202) 216-0460 FAX: [1] (202) 216-0459 |
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Diplomatic representation from the US:
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the US does not have an embassy in Liechtenstein, but the US Ambassador to Switzerland is also accredited to Liechtenstein |
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Flag description:
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two equal horizontal bands of blue (top) and red with a gold crown on the hoist side of the blue band |
ECONOMY
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Economy - overview:
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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 the urban areas of 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 a large number of 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 European Free Trade Association (EFTA) and EU) since May 1995. The government is working to harmonize its economic policies with those of an integrated Europe. |
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GDP:
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purchasing power parity - $730 million (1998 est.) |
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GDP - real growth rate:
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NA% |
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GDP - per capita:
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purchasing power parity - $23,000 (1998 est.) |
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GDP - composition by sector:
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agriculture: NA%
industry: NA% 40% services: NA% (1999) |
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Population below poverty line:
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NA% |
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Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
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Inflation rate (consumer prices):
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1% (2001) |
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Labor force:
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28,783 of which 13,847 are foreigners; 8,231 commute from Austria and Switzerland to work each day |
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Labor force - by occupation:
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industry, trade, and building 48%, services 51%, agriculture, fishing, forestry, and horticulture 1% (37256 est.) |
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Unemployment rate:
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1.3% (1999) |
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Budget:
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revenues: $424.2 million
expenditures: $414.1 million, including capital expenditures of $NA (1998 est.) |
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Industries:
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electronics, metal manufacturing, dental products, ceramics, pharmaceuticals, food products, precision instruments, tourism, optical instruments |
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Industrial production growth rate:
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NA% |
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Electricity - production by source:
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fossil fuel: NA%
other: NA% 2% (2001) hydro: NA% 98% nuclear: NA% |
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Electricity - consumption:
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313.45 million kWh NA kWh (2001) |
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Electricity - exports:
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NA kWh (2001) |
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Electricity - imports:
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232.847 million kWh NA kWh (2001) |
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Agriculture - products:
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wheat, barley, corn, potatoes; livestock, dairy products |
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Exports:
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$2.47 billion (1996) |
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Exports - commodities:
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small specialty machinery, connectors for audio and video, parts for motor vehicles, dental products, hardware, prepared foodstuffs, electronic equipment, optical products |
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Exports - partners:
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EU 62.6% (Germany 24.3%, Austria 9.5%, France 8.9%, Italy 6.6%, UK 4.6%), US 18.9%, Switzerland 15.7% |
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Imports:
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$917.3 million (1996) |
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Imports - commodities:
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agricultural products, raw materials, machinery, metal goods, textiles, foodstuffs, motor vehicles |
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Imports - partners:
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EU countries, Switzerland |
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Debt - external:
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$0 (1996) (2001) |
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Economic aid - recipient:
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none |
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Currency:
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Swiss franc (CHF) |
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Currency code:
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CHF |
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Exchange rates:
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Swiss francs per US dollar - 1.6668 (January 2002), 1.6876 (2001), 1.6888 (2000), 1.5022 (1999), 1.4498 (1998), 1.4513 (1997) |
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Fiscal year:
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calendar year |