Legislative branch: unicameral Diet or Landtag (25 seats; members
are elected by direct popular vote under proportional representation
to serve four-year terms)
elections: last held on 2 February 1997 (next to be held by NA 2001)
election results: percent of vote by party—VU 50.1%, FBPL 41.3%, FL
8.5%; seats by party - VU 13, FBPL 10, FL 2
Judicial branch: Supreme Court or Oberster Gerichtshof; Superior
Court or Obergericht
Political parties and leaders: Fatherland Union or VU [Dr. Oswald
International organization participation: CE, EBRD, ECE, EFTA,
IAEA, ICRM, IFRCS, Intelsat, Interpol, IOC, ITU, OPCW, OSCE, PCA,
UN, UNCTAD, UPU, WCL, WIPO, WTrO
Diplomatic representation in the US: Liechtenstein does not have
an embassy in the US, but is represented by the Swiss embassy in
routine diplomatic matters
Diplomatic representation from the US: the US does not have an
embassy in Liechtenstein, but the US Ambassador to Switzerland is
also accredited to Liechtenstein
Flag description: two equal horizontal bands of blue (top) and
red with a gold crown on the hoist side of the blue band
Economy
Economy—overview: 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. Low business taxes—the maximum tax rate is 18%—and easy incorporation rules have induced about 73,700 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 is 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.
GDP: purchasing power parity—$730 million (1998 est.)