Trade
The industrial sector reached a technologically advanced level
with particular strengths in machine and electrical engineering, electronics, optics,
watch making, pharmaceutical, chemical, textile and food industries.
Switzerland is very reliant on foreign trade
and an important players in world trade. Every second Swiss franc is earned abroad. The
share of foreign trade in its GNP is one of the highest in the world. Swiss exports
amounted to US$ 118.5 bio. (CHF 147.4 bio.) in 2004 and imports reached
US$ 111.6 bio. (CHF 138.8 bio.) 82.8 % of imports came
from the European Union (EU) and 62.2 % went to the EU. About a third of Swiss exports went
overseas, where Asia was the leading market followed by North America.
Swiss exports of services (particularly
banking/insurance/forwarding) to foreign countries exceeded CHF US$ 41.5
(CHF 51.6 bio.) in 2004. Its share
in world-wide trade in commercial services (1.91 %) placed Switzerland
15th
among all countries.
Investment
Swiss authorities attach great importance to maintaining the
best possible climate for trade and industry by ensuring that the economic system and
Swiss market stay as liberal and competitive as possible. There are numerous important
international companies but more than 99.7 % of all firms fall into the category of small or
medium-sized businesses. Many of them produce for the international market as well.
Switzerland is an attractive by international standards for foreign investors. Various
important foreign companies have established their European headquarters, offices and/or
factories in Switzerland. |
