Industry and manufacturing
Liechtenstein has a broadly diversified economic structure with a significant emphasis on industrial production. In comparison with other national economies, Liechtenstein is more strongly industrial and less service-oriented than is generally assumed.
Despite the small size of the country, the Liechtenstein national economy covers 15 of the 16 economic segments in the international classification, more than most small European States. The most important branches of the heavily export-oriented industry are mechanical engineering, plant construction, manufacturing of precision instruments, dental technology, and the food-processing industry. In all of these areas, the emphasis is less on the production of mass and inexpensive goods, but rather on the development of high quality, high-tech products.
Many industrial firms are active in very specialized market niches. Through intense research and development work, domestic companies have achieved the status of global market leaders in their areas.
In addition to many large companies, the many small and medium-size businesses make up the backbone of Liechtenstein industry. The average business in Liechtenstein has less than 10 employees, but these employees distinguish themselves by high qualifications and productivity.