## Principality of Liechtenstein: Selected Issues

_IMF Staff Country Reports, March 27, 2025_

## Source details

**Canonical URL:** [Principality of Liechtenstein: Selected Issues](https://www.imf.org/en/publications/cr/issues/2025/03/27/principality-of-liechtenstein-selected-issues-565613)

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## Bibliographic details
- Published: March 27, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229005791.002

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### Overview and purpose
- Focus: cross-border income flows in Liechtenstein.
- Objective: examine drivers of the GDP–GNI gap using currently available data to provide broader context for Liechtenstein’s high per capita income.
- Analytical lens emphasized: the country’s unique structure, notably the significant presence of cross-border commuters and foreign investments by Liechtenstein residents.

### Key findings
- The gap between Gross Domestic Product (GDP) and Gross National Income (GNI) in Liechtenstein is significant.
- Drivers of the GDP–GNI gap highlighted:
  - A high percentage of cross-border commuters.
  - Globally competitive manufacturers contributing to high GDP per capita.
  - Foreign investments by Liechtenstein residents.
- Comparative magnitude and volatility:
  - The GDP–GNI gap is among the largest among major economies and comparable in magnitude to Ireland and Luxembourg—but is more volatile.
- Primary source of the gap:
  - Largely due to net outflows to foreign workers.
  - Not primarily due to multinational corporations domiciling operations in the country for financial reasons.

### Implications for analysis and policy
- Economic developments in Liechtenstein should be analyzed through an alternate lens that accounts for:
  - The significant presence of commuters.
  - The role of foreign investments by Liechtenstein residents.
- Interpreting standard per capita measures (GDP per capita) without considering the GDP–GNI gap may misrepresent resident income and welfare.

### Publication metadata and dimensions
- Publication title: Principality of Liechtenstein: Selected Issues
- Publication date: March 27, 2025
- Pages: 46
- Volume: 2025
- Issue: 077
- Series: Country Report No. 2025/077
- Stock No: 1LIEEA2025002
- DOI: https://doi.org/10.5089/9798229005791.002
- ISBN: 9798229005791
- ISSN: 1934-7685

*Source: Principality of Liechtenstein: Selected Issues (IMF Staff Country Report, March 27, 2025).*

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## Content in this bundle

- **Principality of Liechtenstein: Selected Issues; IMF Country Report No. 25/77; March 5, 2025**
  - [Principality of Liechtenstein: Selected Issues; IMF Country Report No. 25/77; March 5, 2025 (Markdown version)](/-/media/files/publications/cr/2025/english/1lieea2025002-print-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Principality of Liechtenstein: Selected Issues; IMF Country Report No. 25/77; March 5, 2025 (PDF)](/-/media/files/publications/cr/2025/english/1lieea2025002-print-pdf.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2025/03/27/principality-of-liechtenstein-selected-issues-565613_