Norway and Switzerland were among the founding Member States of EFTA in 1960. Iceland joined EFTA in 1970, followed by Liechtenstein in 1991. Norway, Iceland (from 1994) and Liechtenstein (from 1995) are also parties to the European Economic Area (EEA) Agreement with the European Union, while Switzerland has signed a set of bilateral agreements with the EU.

The EFTA countries are highly competitive, open economies representing a sizeable market with strong per capita purchasing power. The two Alpine members – Liechtenstein and Switzerland – are established international financial centres and leaders in several industrial sectors including machinary, pharmaceuticals and chemicals. The two Nordic countries – Iceland and Norway – excel in industries related to their abundant natural resources, including oil, gas, electricity and fish, and are active in various service sectors.

Republic of Iceland

Government: Parliamentary Government
Capital: Reykjavik
Area: 103 000 km2
Population: 321 857 (1 January 2013)
Currency: Icelandic króna (ISK)
GDP: 10 628 (2012, in million EUR)
Find more information on Iceland on the official government website.

Principality of Liechtenstein

Government: Constitutional Monarchy
Capital: Vaduz
Area: 160 km2
Population: 36 842 (1 January 2013)
Currency: Swiss franc (CHF)
GDP: 4 383 (2011, in million EUR)
Find more information on Liechtenstein on the official government website (photo: Tom Ordelman)

Kingdom of Norway

Government: Constitutional Monarchy
Capital: Oslo
Area: 384 802 km2
Population: 5 051 275 (1 January 2013)
Currency: Norwegian krone (NOK)
GDP: 388 866 (2012, in million EUR)
Find more information on Norway on the official government website (photo: Jiri Havran)

Swiss Confederation

Government: Federal Republic
Capital: Bern
Area: 41 285 km2
Population: 8 036 917 (1 January 2013)
Currency: Swiss franc (CHF)
GDP: 490 424 (2012, in million EUR)
Find more information on Switzerland on the official government website (©Catherine Wenger/swissworld)