Industry and trade feel well in Liechtenstein. Although Liechtenstein is often mentioned in the same breath as the financial centre and its services, established from trade and industry-related companies underpin the broad diversification of the economic area.
Despite its small size, Liechtensteins economy covers almost all of the traditional sectors present in many other countries. Machinery and equipment manufacturing, plant construction, precision instruments, dental technology and the food industry are the main industries, with a large proportion of the goods and services produced in the country destined for export. Throughout all these sectors, companies based in Liechtenstein place emphasis on creating high-tech products of the finest quality rather than on cheap mass production.
Almost 40% of employees in Liechtenstein work in the industrial sector. Industry, combined with manufacturing, produces 41% of the countrys annual gross value added. Many industrial firms based in Liechtenstein operate in highly specialised niche markets, while many have become global leaders in their respective fields thanks to intensive research and development.
Alongside the few large companies present in Liechtenstein, it is first and foremost small and medium-sized enterprises that form the backbone of the countrys industry. On average, companies in Liechtenstein have fewer than ten members of staff, though these workers are often characterised by excellent qualifications and high levels of productivity.