Liechtenstein’s economic growth registered in the first quarter of 2017 was partially given the increase in the foreign trade numbers. Imports and exports registered a slight increase on a year-to-year basis, with European countries being the most important trading partners for Liechtenstein at the beginning of the year. Our company registration consultants in Liechtenstein can assist those interested in starting a trading business in the Principality.
According to the Liechtenstein Office of Statistics, the country is on a good track in terms of foreign trade, as the economy has registered a slight increase at the beginning of the year thanks to the growing number of exports. Not only that, but imports also grew at the beginning of 2017, even if less than the exports. Neighboring countries like Germany and Luxembourg are among the most important trading partners Liechtenstein has, and in terms of services exports to other European countries. This has made Europe Liechtenstein’s greatest trading partner.
During the first quarter of 2017, Liechtenstein companies have reported incomes of 850 million CHF from exports. This represents an increase of 1.1% compared to the same period of 2016. Out of the 850 million CHF, goods worth 524 million CFH went to Europe. The share of exports to Europe represented 61.7% of the total goods and services exported by Liechtenstein companies.
A significant number of companies also reported an increase in import numbers, however these are lower the exports announced since the beginning of the year. Imports amounted up to 486 CHF between January and March, 0.6% higher than during the same period of 2016. Most of these imports came from European countries, however, the largest share of imports came from Africa and it was related to agricultural products. In numbers, the total worth of goods imported by companies in Liechtenstein was 372.5 million CHF. It should be noted that Switzerland was not included in the statistics.
For information on the best industries to invest in the Principality, please contact our company formation agents in Liechtenstein.