International trade recovers rapidly
21 July 2021
Liechtenstein’s international trade has grown strongly in both directions in the second quarter of 2021. Growth of exports was twice as strong as imports. Germany remains the most important trade partner in both directions.
According to the quarterly results from the Office of Statistics, Liechtenstein’s economy exported goods worth a total of 915 million Swiss francs in the second quarter of 2021. This means that the country’s exports were 70.0 percent higher than the previous year’s value. Liechtenstein’s imports increased by 30.6 percent to goods amounting to 457 million Swiss francs in the same period.
Germany remains the most important trade partner in both directions for Liechtenstein’s international trade. In the reporting period, Liechtenstein exported goods with a value of 330 million Swiss francs to Germany, which is 123.2 percent higher than the same quarter in the prior year. Imports from Germany in the same period increased by 40.7 percent to goods with a value of 165 million Swiss francs. Exports to the country in second place, the USA, were 25.9 percent higher than the previous year’s figure, with goods worth 94 million Swiss francs. However, imports from the USA declined by 9.0 percent in the same period to goods amounting to 22 million Swiss francs. The second-most important trade partner for imports, Austria, sent goods amounting to 99 million Swiss francs in the second quarter of 2021, which is 20.1 percent higher than the same quarter of the prior year. Exports to Austria simultaneously increased by 43.9 percent to goods totaling 92 million Swiss francs.
Liechtenstein’s international trade links with Switzerland are not included in the current international trade statistics. They are generally not taken into consideration in the Office for Statistics’ surveys as trade in goods with Switzerland is recorded at the Swiss border crossings.