Part 434

Data code: LS

Type of government: hereditary constitutional monarchy

Capital: Vaduz

Administrative divisions: 11 communes (gemeinden, singular - gemeinde); Balzers, Eschen, Gamprin, Mauren, Planken, Ruggell, Schaan, Schellenberg, Triesen, Triesenberg, Vaduz

Independence: 23 January 1719 (Imperial Principality of Liechtenstein established)

National holiday: Assumption Day, 15 August

Constitution: 5 October 1921

Legal system: local civil and penal codes; accepts compulsory ICJ jurisdiction, with reservations

Suffrage: 20 years of age; universal

Executive branch: chief of state: Prince Hans ADAM II (since 13 November 1989, who is a hereditary monarch, assumed executive powers 26 August 1984); Heir Apparent Prince ALOIS von und zu Liechtenstein (born 11 June 1968) head of government: Mario FRICK (since 15 December 1993) and Deputy Head of Government Dr. Thomas BUECHEL (since 15 December 1993) were elected by the Landtag for a four-year term and confirmed by the prince cabinet: Cabinet was elected by the Diet; confirmed by the prince

Legislative branch: unicameral Diet (Landtag): elections last held on 24 October 1993 (next to be held by March 1997); results - VU 50.1%, FBP 41.3%, FL 8.5%; seats - (25 total) VU 13, FBP 11, FL 1

Judicial branch: Supreme Court (Oberster Gerichtshof) for criminal cases; Superior Court (Obergericht) for civil cases

Political parties and leaders: Fatherland Union (VU), Dr. Oswald KRANTZ; Progressive Citizens' Party (FBP), Otmar HASLER; The Free List (FL)

International organization participation: CE, EBRD, ECE, EFTA, IAEA, ICRM, IFRCS, Intelsat, Interpol, IOC, ITU, OSCE, PCA, UN, UNCTAD, UPU, WCL, WIPO, WTrO

Diplomatic representation in US: Liechtenstein does not have an embassy in the US, but is represented by the Swiss embassy in routine diplomatic matters

US diplomatic representation: the US does not have an embassy in Liechtenstein, but the US Consul General at Zurich (Switzerland) has consular accreditation in Vaduz

Flag: two equal horizontal bands of blue (top) and red with a gold crown on the hoist side of the blue band

Economy -------

Economic overview: Despite its small size and limited natural resources, Liechtenstein has developed into a prosperous, highly industrialized, free-enterprise economy with a vital service sector and living standards on par with the urban areas of its large European neighbors. Low business taxes - the maximum tax rate is 18% - and easy incorporation rules have induced about 25,000 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. Liechtenstein plans to join the European Economic Area (an organization serving as a bridge between EFTA and EU) in 1995.

GDP: purchasing power parity - $630 million (1990 est.)

GDP real growth rate: NA%

GDP per capita: $22,300 (1990 est.)

GDP composition by sector: agriculture: NA% industry: NA% services: NA%

Inflation rate (consumer prices): 5.4% (1990)

Labor force: 20,000 of which 12,000 are foreigners; 6,885 commute from Austria and Switzerland to work each day by occupation: industry, trade, and building 48.1%, services 50.2%, agriculture, fishing, forestry, and horticulture 1.7% (1993)

Unemployment rate: 0.9% (1995)

Budget: revenues: $455 million expenditures: $442 million, including capital expenditures of $NA (1995 est.)

Industries: electronics, metal manufacturing, textiles, ceramics, pharmaceuticals, food products, precision instruments, tourism