Economy of Switzerland information

Economy of Switzerland
	The city of Zürich, the most important economic center of the country
Currency	Swiss franc (CHF)
Fiscal year	Calendar year
Trade organisations	EFTA, WTO and OECD
Country group	Developed/Advanced; High-income economy; European (non-EU) economy; renowned banking and financial hub;
Statistics
Population	8,636,986 (2020)
GDP	$870 billion (nominal, 2023); $774 billion (PPP, 2023);
GDP rank	20th (nominal, 2023); 36th (PPP, 2023);
GDP growth	2.1% (2022); 0.8% (2023); 1.8% (2024);
GDP per capita	$98,800 (nominal, 2023); $88,000 (PPP, 2023);
GDP per capita rank	6th (nominal, 2023); 6th (PPP, 2023);
GDP by sector	agriculture: 0.7%; industry: 25.6%; services: 73.7%; (2017);
Inflation (CPI)	2.4% (2023)
Population below poverty line	6.6% in poverty (2014); 17.4% at risk of poverty or social exclusion (AROPE, 2018);
Gini coefficient	31.1 low (2022)
Human Development Index	0.967 very high (2022) (1st); 0.891 very high IHDI (2022);
Labour force	4,971,981 (2019); 82.5% employment rate (2018);
Labour force by occupation	agriculture: 3.3%; industry: 19.8%; services: 76.9%; (2015);
Unemployment	1.9% (May 2023); 1.7% Youth Unemployment (15 to 24 year-olds; Q1-2023);
Average gross salary	$89,154 annual (2022)
Main industries	Machinery; chemicals; watches; textiles; precision instruments; tourism; banking; insurance; pharmaceuticals;
External
Exports	$468.7 billion (2020)
Export goods	machinery, chemicals, metals, watches, agricultural products
Main export partners	Germany 15.2%; United States 12.3%; China 8.2%; India 6.7%; France 5.7%; United Kingdom 5.7%; (2017);
Imports	$291.1 billion (2020)
Import goods	machinery, chemicals, vehicles, metals, agricultural products, textiles
Main import partners	Germany 20.9%; United States 7.9%; Italy 7.6%; United Kingdom 7.3%; France 6.8%; China 5%; Belgium 4.1%; (2017);
FDI stock	$1.489 trillion (31 December 2017 est.); Abroad: $1.701 trillion (31 December 2017 est.);
Current account	$66.55 billion (2017 est.)
Gross external debt	$1.664 trillion (31 March 2016 est.)
Public finances
Government debt	41.8% of GDP (2017 est.)
Budget balance	1.1% (of GDP) (2017 est.)
Revenues	242.1 billion (2017 est.)
Expenses	234.4 billion (2017 est.)
Economic aid	Donor: ODA 3 billion CHF (0.50% of GDP)
Credit rating	Standard & Poor's:; AAA (Domestic); AAA (Foreign); AAA (T&C Assessment); Outlook: Stable; Moody's:; Aaa; Outlook: Stable; Fitch:; AAA; Outlook: Stable; Scope:; AAA; Outlook: Stable;
Foreign reserves	$1.25 trillion (January 2023) (3rd)
	Main data source: CIA World Fact Book ; All values, unless otherwise stated, are in US dollars.

The Economy of Switzerland is one of the world's most advanced and a highly-developed free market economy. The economy of Switzerland has ranked first in the world since 2015 on the Global Innovation Index^[19]^[20] and third in the 2020 Global Competitiveness Report.^[21]^[22] According to United Nations data for 2016, Switzerland is the third richest landlocked country in the world after Liechtenstein and Luxembourg. Together with the latter and Norway, they are the only three countries in the world with a GDP per capita (nominal) above US$90,000 that are neither island nations nor ministates.^[23]

^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ ^j ^k ^l ^m ⁿ ^o ^p ^q "Switzerland". The World Factbook (2024 ed.). Central Intelligence Agency.
^ "Population on 1 January". ec.europa.eu/eurostat. Eurostat. Retrieved 13 July 2020.
^ ^a ^b ^c ^d ^e ^f "World Economic Outlook database: April 2023". imf.org. International Monetary Fund.
^ "People at risk of poverty or social exclusion". ec.europa.eu. Eurostat. Retrieved 20 October 2019.
^ "Gini coefficient of equivalised disposable income - EU-SILC survey". ec.europa.eu. Eurostat. Retrieved 8 March 2024.
^ "Human Development Index (HDI)" (PDF). hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 13 March 2024.
^ Nations, United. "Inequality-adjusted HDI (IHDI)" (PDF). hdr.undp.org. UNDP. Retrieved 13 March 2024.
^ "Labor force, total - Switzerland". data.worldbank.org. World Bank. Retrieved 5 November 2019.
^ "Employment rate by sex, age group 20-64". ec.europa.eu/eurostat. Eurostat. Retrieved 20 October 2019.
^ [https:// trading economics .com/ switzerland/employment-rate "Unemployment in Switzerland"]. TradingEconomics. Retrieved 6 June 2023. {{cite web}}: Check |url= value (help)
^ [https:// tradinge conomics. com/switzerland/youth-unemployment-rate "Youth Unemployment in Switzerland"]. Retrieved 6 June 2023. {{cite web}}: Check |url= value (help)
^ [https:// tradinge conomics.com/switzerland/wages "Switzerland Gross Monthly Wage"]. TradingEconomics. Retrieved 6 June 2023. {{cite web}}: Check |url= value (help)
^ "Increase in Swiss official development assistance". Swiss Agency for Development and Cooperation - SDC. 17 September 2010. Retrieved 11 October 2010.
^ "Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
^ ^a ^b ^c Rogers, Simon; Sedghi, Ami (15 April 2011). "How Fitch, Moody's and S&P rate each country's credit rating". The Guardian. Retrieved 28 May 2011.
^ "Scope affirms Switzerland's AAA ratings with Stable Outlook". Scope Ratings. Retrieved 28 January 2023.
^ WIPO (2022). Global Innovation Index 2022, 15th Edition. World Intellectual Property Organization. doi:10.34667/tind.46596. ISBN 9789280534320. Retrieved 16 November 2022. {{cite book}}: |website= ignored (help)
^ "The Global Innovation Index 2015 : Effective Innovation Policies for Development" (PDF). Globalinnovationindex.org. Retrieved 31 March 2016.
^ "Switzerland ranked third in global competitiveness ranking". SWI swissinfo.ch. 16 June 2020.
^ "These are the world's 10 most competitive economies". World Economic Forum. 26 September 2017. Retrieved 27 September 2017.
^ National Accounts Main Aggregates Database, 2016 by United Nations Statistics Division

Cite error: There are <ref group=note> tags on this page, but the references will not show without a {{reflist|group=note}} template (see the help page).

[1] "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.

[2] "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.

[CIAWF-3] ^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ ^j ^k ^l ^m ⁿ ^o ^p ^q "Switzerland". The World Factbook (2024 ed.). Central Intelligence Agency.

[4] "Population on 1 January". ec.europa.eu/eurostat. Eurostat. Retrieved 13 July 2020.

[IMFWEOCH-5] ^ ^a ^b ^c ^d ^e ^f "World Economic Outlook database: April 2023". imf.org. International Monetary Fund.

[6] "People at risk of poverty or social exclusion". ec.europa.eu. Eurostat. Retrieved 20 October 2019.

[7] "Gini coefficient of equivalised disposable income - EU-SILC survey". ec.europa.eu. Eurostat. Retrieved 8 March 2024.

[8] "Human Development Index (HDI)" (PDF). hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 13 March 2024.

[9] Nations, United. "Inequality-adjusted HDI (IHDI)" (PDF). hdr.undp.org. UNDP. Retrieved 13 March 2024.

[10] "Labor force, total - Switzerland". data.worldbank.org. World Bank. Retrieved 5 November 2019.

[11] "Employment rate by sex, age group 20-64". ec.europa.eu/eurostat. Eurostat. Retrieved 20 October 2019.

[12] [https:// trading economics .com/ switzerland/employment-rate "Unemployment in Switzerland"]. TradingEconomics. Retrieved 6 June 2023. {{cite web}}: Check |url= value (help)

[13] [https:// tradinge conomics. com/switzerland/youth-unemployment-rate "Youth Unemployment in Switzerland"]. Retrieved 6 June 2023. {{cite web}}: Check |url= value (help)

[14] [https:// tradinge conomics.com/switzerland/wages "Switzerland Gross Monthly Wage"]. TradingEconomics. Retrieved 6 June 2023. {{cite web}}: Check |url= value (help)

[18] "Increase in Swiss official development assistance". Swiss Agency for Development and Cooperation - SDC. 17 September 2010. Retrieved 11 October 2010.

[19] "Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.

[guardian-20] Rogers, Simon; Sedghi, Ami (15 April 2011). "How Fitch, Moody's and S&P rate each country's credit rating". The Guardian. Retrieved 28 May 2011.

[21] "Scope affirms Switzerland's AAA ratings with Stable Outlook". Scope Ratings. Retrieved 28 January 2023.

[22] WIPO (2022). Global Innovation Index 2022, 15th Edition. World Intellectual Property Organization. doi:10.34667/tind.46596. ISBN 9789280534320. Retrieved 16 November 2022. {{cite book}}: |website= ignored (help)

[23] "The Global Innovation Index 2015 : Effective Innovation Policies for Development" (PDF). Globalinnovationindex.org. Retrieved 31 March 2016.

[24] "Switzerland ranked third in global competitiveness ranking". SWI swissinfo.ch. 16 June 2020.

[25] "These are the world's 10 most competitive economies". World Economic Forum. 26 September 2017. Retrieved 27 September 2017.

[26] National Accounts Main Aggregates Database, 2016 by United Nations Statistics Division

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