An Introduction to Liechtenstein
The Liechtenstein family acquired the Lordship of Schellenburg and the county of Vaduz in 1699 and 1712 respectively, adding a small area to their large existing landholdings but crucially adding territories with the status required to give them a seat in the government of the Holy Roman Empire. Their new land was elevated in status and became the Principality of Liechtenstein - though the princes themselves had bigger fish to fry elsewhere and did not set foot in the principality for another 120 years. It has preserved its independence through a combination of factors including the influence of its leaders in high places; its use as a holiday retreat by leaders of other nations; its neutrality in the Second World War; and its wealth. See full country profile.Latest Research News from Europe (Other)
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GOVERNMENT: Unitary parliamentary democracy and constitutional monarchy
AREA: 160 sq km
POPULATION: 36,281 (July 2011 est.)
MAJOR LANGUAGE: Official Language: German
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Trade and Industry in Liechtenstein
Liechtenstein was also the last country in Europe to grant women the right to vote a referendum on 1 July 1984, in which of course only men were allowed to participate, squeaked through with 51.3% in favor.
Alongside Uzbekistan, Liechtenstein is one of only two doubly landlocked countries in the world - this indicates a landlocked country surrounded only by other landlocked countries, from which a person must therefore cross at least two borders to reach a coastline.
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The Liechtenstein family acquired the Lordship of Schellenburg and the county of Vaduz in 1699 and 1712 respectively, adding a small area to their large existing landholdings but crucially adding territories with the status required to give them a seat in the government of the Holy Roman Empire. Their new land was elevated in status and became the Principality of Liechtenstein - though the princes themselves had bigger fish to fry elsewhere and did not set foot in the principality for another 120 years. It has preserved its independence through a combination of factors including the influence of its leaders in high places; its use as a holiday retreat by leaders of other nations; its neutrality in the Second World War; and its wealth.
Today its a member of EFTA and Schengen but not the EU. Mountainous and known for winter sports, the country has a strong financial sector and serves as a tax haven, with a huge number of international firms based there. Liechtenstein has the highest PPP GDP per capita in the world and the world's lowest external debt. While the country gives rights to its people to propose and enact laws independent of the legislature, known as a direct democracy, its monarch has broad powers which were strengthened by a new constitution in 2003, approved in a referendum by around 64% of the people.
GDP: $3.5 bn (2010 est.); $98,432 per capita
Religions Roman Catholic 78.4 % Reformed Church 7.9% Undeclared / no religion 7.0 %; Muslims 4.8%; Other religions and denominations 1.3%
Currency: Swiss franc (CHF); CHF 1 = c.$US 1
Telephone Code: + 423
Liechtenstein has developed a 'rosperous, highly industrialized free-enterprise economy, claims to have the lowest business taxes in Europe and boasts more registered companies than citizens. The former include 73,700 holding companies, revenue from which contribute about 30% of the country's state revenue. However, it has recently acted to tighten up on international money-launderers and tried to clean up its act as a financial centre. This follows rows with Germany and the United States the latter has stated that the royally owned LGT bank is a willing partner, and an aider and abettor to clients trying to evade taxes, dodge creditors or defy court orders.
Liechtenstein is part of a customs union with Switzerland, whose currency it uses, and is working to harmonize its economic policies with the increasingly integrated EU. Key sectors in its own economy are ceramics, tourism and various industrial products including power tools, but its also the world's largest producer of sausage casings, potassium storage units and false teeth.
Exports were $2.79 bn in 2009 and also included electrical and mechanical parts, with 24.3% going to Germany in 2006, 18.9% to the US and 15.7% to Switzerland. Imports of $1.73 bn in 2009 and include agricultural products, raw materials, 85% of its energy, metal good, textiles and foodstuffs the EU and Switzerland supply most.
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