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Articles

Liechtenstein's Foreign Trade Turnover Rose by 2.3% in 2016

Written by: Bridgewest

Liechtenstein is not only an appreciated financial center in the world, as recent statistics issued by the Chamber of Commerce and Industry (LIHK) indicate goods produced here are also appreciated. According to the LIHK, the foreign trade turnover rose by 2.3% in 2016, reaching 6.7 billion CHF. Foreign investors who want to set up companies in the Principality can request the services of our company formation advisors in Liechtenstein.

Germany, Switzerland and the US are Liechtenstein’s most important trading partners

2016 ended on a positive note for Liechtenstein’s foreign trade turnover which registered a 2.3% increase, after the slight decline accounted for in 2015. At this moment, Liechtenstein’s Chamber of Commerce counts on 32 member-companies which registered incomes totaling 6.7 billion CHF at the end of 2016. This amount compensated for the 1.3% decrease registered in 2015. The Liechtenstein Chamber of Commerce has gathered the largest industrial companies, as well as, the most important small and medium-sized enterprises (SMEs) in the country under its umbrella.

According to the statement released by the LIHK, this increase indicates the products manufactured by Liechtenstein companies are appreciated on the global market. Germany, Switzerland and the US were Liechtenstein’s greatest trading partners in the past year.

Most of the foreign trade turnover came from the European Economic Area

Good produced in Liechtenstein reached the European Economic Area (EEA) in proportion of 43.5% with Germany occupying the first position among the Principality’s trading partners. German companies imported products worth 1.14 billion CHF, or 17% of the goods exported by Liechtenstein. The USA came on the second position, with imported goods valued at 1.12 billion CHF, while exports to Switzerland were worth 869 billion CHF. Central and South American and the Asian countries have also started becoming noticed on Liechtenstein’s trade market.

According to the LIHK, research and development is the most important factor in this increase in the foreign trade turnover, as Liechtenstein companies have invested around 485 million CHF in the development of innovative solutions.

If you are interested in starting a trading company here, please feel free to contact our company registration agents in Liechtenstein.

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