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Swiss Economy in 184 Words

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Submitted By thodoris
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Since 2004, Switzerland has enjoyed continuous economic success sans any hiccups. The strength of Swiss financial institutions and a robust relationship with important trading partners has powered the economy Switzerland’s which seems to fit pretty well within the global marketplace. Switzerland in the postmodern economy is known for certain export commodities like watches, chocolate and cheese, but statistics show that mechanical engineering and chemicals account for over half the Swiss revenues(1). It's highly qualified labor force (2) performing extremely skilled work in areas like biotechnology and pharmaceuticals. Despite a lack of natural resources, Switzerland tops to the report’s Global Competitiveness Index (GCI) (3) for the sixth year running. It performs well across many of the measures being assessed and ranks in the top 10 of eight key pillars. Switzerland’s top-notch academic institutions, high spending on R&D, and strong cooperation between the academic and business worlds contribute to making it a top innovator. (4) With a sense of order and stability Swiss economy's future is likely to be wrinkle-free with a stable and prosperous economy and a steely competitive spirit in manufacturing, services and tourism.

(1) Switzerland in figures 2015/2016 , UBS report revenues http://www.amcham.ch/members_interests/downloads/150910_UBS_switzerland_in_figures.pdf
(2) Human Capital Index 2013, World Economic Forum (http://www3.weforum.org/docs/WEF_HumanCapitalReport_2013.pdf ).
(3) Global Competitiveness Index (GCI) , World Economic Forum , http://reports.weforum.org/global-competitiveness-report-2014-2015/rankings/
(4) Global innovation Index 2015 https://www.globalinnovationindex.org/userfiles/file/reportpdf/GII-2015-v5.pdf).

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