The Swiss economy

From the Swiss Embassy Newsletter...

Although small in size, Switzerland ranks among the world’s most prosperous nations. It has the 4th largest per capita GDP, 17th largest overall GDP, a low unemployment rate, and an excellent infrastructure. In addition, Switzerland is among the top 20 nations worldwide in the export of goods and among the top 12 for the export of services. Moreover, Switzerland’s State Secretariat for Economic Affairs (SECO) recently stated that the Swiss economy is continuing to grow at a robust rate. The 2006 growth rate was the highest it has been in 6 years.

Switzerland’s solid economic standing is due largely to its strong emphasis on international trade. Switzerland is party to numerous bilateral free trade agreements and benefits from membership in the World Trade Organization (WTO) and the European Free Trade Association (EFTA). Switzerland’s liberal economic policies and highly skilled workforce also contribute to its thriving economy.

Switzerland’s largest industries are the service sector (banking, insurance, tourism), pharmaceuticals, and machinery. It is home to some of the world’s best-known corporations from a variety of industries including Nestle, Novartis, UBS, and many others.