Economy of Liechtenstein
The economy of Liechtenstein is based roughly equally on services (especially financial services) and industry, with a small but significant agricultural sector. The country participates in a customs union with Switzerland and uses the Swiss franc as its national currency. It imports more than 85% of its energy requirements. Liechtenstein has been a member of the European Free Trade Association (EFTA) since 1991 (previously its interests had been represented by Switzerland). It also has been a member of the European Economic Area (EEA) since May 1995 and participates in the Schengen Agreement for passport-free intra-European travel.
Swiss franc
In 1798, the Helvetic Republic introduced the "franc", a currency based on the Berne thaler, subdivided into 10 "batzen" or 100 "centimes". The Swiss franc was equal to grams of pure silver or French francs.