Switzerland's Economy
Switzerland at a Glance
An overview of Switzerland's economy - high incomes, specialised exports, finance and innovation - despite few natural resources.
Switzerland has about 9 million people and one of the world’s highest incomes.
Few resources
Switzerland has almost no minerals or oil, and much of it is mountainous.
Strengths
- Pharmaceuticals and chemicals.
- Precision machinery and watches.
- Finance and insurance.
- Food: Nestlé is the world’s largest food company.
- Commodity trading: Geneva and Zug host major traders.
Innovation
Switzerland ranks first in the Global Innovation Index for many years.
Not in the EU
Switzerland isn’t in the EU but has many bilateral agreements giving access to the EU market.
Languages
Four national languages: German, French, Italian and Romansh.
Lesson
Skills, institutions and specialisation can create wealth without natural resources.
Switzerland grows no cocoa, yet Swiss chocolate is famous worldwide, showing how skills and branding add value.
Switzerland is rich with almost none.
- Switzerland has about 9 million people and high incomes.
- It has few natural resources.
- Pharma, machinery, finance and food are strengths.
- It tops the Global Innovation Index.
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