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Economic Structure
Principality of Liechtenstein
Liechtenstein has a broadly diversified economic structure with a high percentage of industrial manufacturing. In comparison with other national economies Liechtenstein is strongly industrially characterised and less service-oriented than is generally assumed.
Despite the smallness of the country the Liechtenstein national economy covers
15 of the 16 economic sections of the international classification - more than most other European small states. The most important branches of the very strongly export-oriented industry are mechanical engineering and equipment construction, plant manufacturing, the manufacture of precision instruments, the dental industry and the foodstuffs industry. In all of these sectors this is less a matter of the manufacture of mass and cheap products than the production of high-tech products of the highest quality.
Many industrial enterprises are active in very specialised market niches. Quite a few local companies have managed to establish themselves as world market leaders in their sectors through intensive research and developmental work.
In addition to a large number of big companies, the country’s many small and medium-sized businesses constitute the backbone of the Liechtenstein industry.
The average business in Liechtenstein has less than 10 employees; however, these employees distinguish themselves through their high degree of qualification and productivity.
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