LIHK members boost sales abroad
The 31 member companies of the Liechtenstein Chamber of Commerce and Industry generated total international sales of 7.9 billion Swiss francs in 2018. This is an increase of 9 percent on the previous year. The European Economic Area remains the most important sales market.
Internationally, demand is strong for products from Liechtenstein. This is reflected in the foreign sales of the 31 companies who are members of the Liechtenstein Chamber of Commerce and Industry (LIHK). In 2018, their sales across 169 countries amounted to 7.9 billion francs overall. At 1.39 billion francs, Germany accounts for the highest share of 17.7 percent, the LIHK reports in its press release. The top sales market is followed by the USA with 1.13 billion francs and Switzerland with 981 million francs. China comes in at number four with sales of 540 million francs.
The European Economic Area (EEA) – with its 31 member states for now – remains the most important sales market, having accounted for sales of 3.55 billion francs in 2018, which corresponds to a share of 45 percent. At 14 percent, sales growth was furthermore above average in this region. In second place comes the Asia and the Pacific region with sales of 1.64 billion francs and a share of 21 percent. A share of 18 percent is attributable to the American continent, where sales totaled 1.46 billion francs.
LIHK President Klaus Risch regards the growth in foreign sales as a good sign: “Considering compounding factors such as the global economy losing momentum over the course of 2018, the strong Swiss franc and uncertainty through escalating trade policy conflicts, the results of the LIHK can be rated as good overall.”
LIHK member companies employ 10,400 staff in Liechtenstein as well as a further 58,000 employees in around 250 foreign subsidiaries across 70 countries. In 2018, they invested about 578 million francs in research and development, which is equivalent to more than 9 percent of gross domestic product.