According to allcitypopulation, Liechtenstein is a small, landlocked country located in Central Europe, bordered by Switzerland to the west and south and Austria to the east. The country covers an area of just 160 square kilometers and has a population of approximately 38,000 people. According to Petwithsupplies, the capital city of Liechtenstein is Vaduz with a population of 5,200 (Estimated 2012). Other major cities include Schaan with a population of 5,800, Triesen with a population of 4,700 (estimate 2012).
Liechtenstein has a highly developed economy which is largely based on services such as banking and finance. Other important sectors include tourism, manufacturing and agriculture. The currency of Liechtenstein is the Swiss Franc (CHF). Liechtenstein also has one of the lowest unemployment rates in Europe at just 1%.
The main exports from Liechtenstein are precision instruments such as watches and jewelry which together account for around 70% of total exports. Other important exports include machinery and electrical equipment (15%) as well as chemicals (6%). The top export destinations for Liechtenstein are Switzerland (44%), Germany (14%) and Austria (10%).
In terms of imports, most imports to Liechtenstein are consumer goods such as food products, clothing and electronics which together account for around 50% of total imports while other important imports include machinery and equipment (20%) as well as chemicals (15%). The top import destinations for Liechtenstein are Switzerland (45%), Germany (19%) and Austria (13%).
Overall, despite its small size, Liechtenstein has a highly developed economy which is largely based on services such as banking and finance. Its low unemployment rate combined with its strong export sector make it an attractive destination for foreign investment.
Foreign Trade of Liechtenstein
Liechtenstein is a small, landlocked country located in Central Europe, bordered by Switzerland to the west and south and Austria to the east. The country covers an area of just 160 square kilometers and has a population of approximately 38,000 people.
The main exports from Liechtenstein are precision instruments such as watches and jewelry which together account for around 70% of total exports. Other important exports include machinery and electrical equipment (15%) as well as chemicals (6%). The top export destinations for Liechtenstein are Switzerland (44%), Germany (14%) and Austria (10%).
In terms of imports, most imports to Liechtenstein are consumer goods such as food products, clothing and electronics which together account for around 50% of total imports while other important imports include machinery and equipment (20%) as well as chemicals (15%). The top import destinations for Liechtenstein are Switzerland (45%), Germany (19%) and Austria (13%).
The foreign trade sector plays an important role in the economy of Liechtenstein. In 2018, total exports were valued at 6 billion Swiss Francs while total imports were valued at 5 billion Swiss Francs. This resulted in a positive trade balance of 1 billion Swiss Francs. The largest export markets for Liechtenstein include Switzerland, Germany, France, Italy and the United States while the largest import markets include Switzerland, Germany, France, Italy and Austria.
In recent years there has been a steady increase in foreign direct investment into Liechtenstein due to its large oil reserves as well as investments in infrastructure projects related to transportation, telecommunications and education. This has resulted in an increase in foreign trade activity with nations such as China which is now one of the top 10 trading partners with Liechtenstein due to increased demand for precision instruments from Chinese consumers.
Overall, it can be concluded that foreign trade plays an important role in the economy of Liechtenstein with positive trade balances being achieved every year thanks to strong export performance combined with increasing levels of foreign direct investment into the country.
Major Trading Partners of Liechtenstein
Liechtenstein is a small landlocked country located in Central Europe and bordered by Switzerland and Austria. Despite its size, Liechtenstein has an open economy and is highly dependent on foreign trade. In 2018, total exports were valued at 6 billion Swiss Francs while total imports were valued at 5 billion Swiss Francs resulting in a positive trade balance of 1 billion Swiss Francs.
The major trading partners of Liechtenstein are mainly European countries such as Switzerland, Germany, France, Italy and Austria. Switzerland is the largest trading partner of Liechtenstein accounting for around 44% of total exports and 45% of total imports in 2018. Switzerland is also the largest source of foreign direct investment into Liechtenstein due to its large oil reserves as well as investments in infrastructure projects related to transportation, telecommunications and education.
Germany is the second largest trading partner of Liechtenstein accounting for around 14% of total exports and 19% of total imports in 2018. Germany is an important supplier for precision instruments such as watches and jewelry which together account for around 70% of total exports from Liechtenstein. Other important imports from Germany include machinery and equipment (20%) as well as chemicals (15%).
France is the third largest trading partner with around 8% of total exports and 8% of total imports in 2018. France is an important supplier for consumer goods such as food products, clothing and electronics which together account for around 50% of total imports to Liechtenstein while other important exports include machinery (15%) as well as chemicals (6%).
Italy is another major trading partner with 5% of total exports and 7% of total imports in 2018. Italy supplies precision instruments such as watches which account for a significant portion of Liechtenstein’s export activity while also providing consumer goods such as clothing which account for a significant portion of import activity.
Austria rounds out the top five trading partners with 10%of both exports & imports respectively in 2018. Austria provides precision instruments such as jewelry to meet demand from Liechtensteins export market while also supplying consumer goods to meet demand from its import market.
In recent years there has been an increase in foreign direct investment into Liechtenstein due to its large oil reserves as well as investments in infrastructure projects related to transportation, telecommunications and education resulting in increased demand from nations such China who now rank among the top 10 trading partners with Liechtenstein due to increased demand for precision instruments from Chinese consumers.
Major Imports and Exports of Liechtenstein
Liechtenstein is a small country located in Central Europe between Austria and Switzerland. Despite its small size, it has a vibrant economy and has become an important trading partner for many countries. Liechtenstein’s major exports include precision instruments such as watches and jewelry, machinery and equipment, chemicals, and food products. It also exports consumer goods such as clothing and electronics.
Germany is the largest trading partner of Liechtenstein, accounting for around 14% of total exports and 19% of total imports in 2018. Precision instruments such as watches and jewelry are the most important exports from Liechtenstein to Germany, accounting for around 70% of total exports from Liechtenstein to Germany. Other important imports from Germany include machinery and equipment (20%) as well as chemicals (15%).
France is the second largest trading partner with around 8% of total exports and 8% of total imports in 2018. Consumer goods such as food products, clothing, electronics are the most important imports from France to Liechtenstein while other important exports include machinery (15%) as well as chemicals (6%).
Italy is another major trading partner with 5% of total exports and 7% of total imports in 2018. Precision instruments such as watches account for a significant portion of Liechtenstein’s export activity while also providing consumer goods such as clothing which account for a significant portion of import activity.
Austria rounds out the top five trading partners with 10%of both exports & imports respectively in 2018. Austria supplies precision instruments such as jewelry to meet demand from Liechtensteins export market while also supplying consumer goods to meet demand from its import market.
China has recently become one of the top 10 trading partners with Liechtenstein due to increased demand for precision instruments from Chinese consumers resulting from increased foreign direct investment into Liechtenstein due to its large oil reserves as well investments in infrastructure projects related to transportation, telecommunications and education.
Overall, Liechtenstein’s economy relies heavily on international trade to sustain itself due to its small size but its strategic location allows it access to many larger economies which it can use to export or import goods depending on their needs at any given time making them an important player in international trade.