Liechtenstein, officially the Principality of Liechtenstein, is a doubly landlocked alpine country in Central Europe, bordered by Switzerland to the west and south and by Austria to the east. Its area is just over 160 square kilometres (62 sq mi), and it has an estimated population of 35,000. Its capital is Vaduz. The biggest town is Schaan. Liechtenstein has the highest gross domestic product per person in the world when adjusted by purchasing power parity, and has the world's lowest external debt. Liechtenstein also has the second lowest unemployment rate in the world at 1.5% (Monaco is first). Liechtenstein is the smallest yet the richest (by measure of GDP per capita) German-speaking country and the only country to lie entirely within the Alps. It is known as a principality as it is a constitutional monarchy headed by a prince.
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