In the world of investment, Switzerland is often thought of as a kind of haven for
investors and as such, developed an economy which is deeply dependant on foreign
investment. This relatively small nation also relies on specialty industry and trade for
individual livelihood. Marked by low unemployment rates and a low budget deficit, the
Swiss economy has also been perceived as one of the world’s most stable. Zurich and
Geneva have been ranked by Mercer Consulting as having among the highest quality of
life in the world.
The main industries of Switzerland include:
Machinery
Chemicals
Watches
Textiles
Precision Instruments
As the destination for over 20 percent of exports and the source of over 30 percent of
imports, Germany is by far the main trade partner for the Swiss. The US, Italy, France,
the UK, Austria, Spain, and the Netherlands are the other trading partners.
Domestic food production supplies approximately 60 percent of the food consumed in
Switzerland. High import tariffs and domestic subsidies protect the agricultural industry.
Power generation is mostly from hydroelectricity (56%) and nuclear power (39%).
Since the early twentieth century, Swiss banknotes have been issued by the Swiss
National Bank. This central bank is also responsible for the monetary policy of
Switzerland. The bank also manages the approximately 1145 tons of official gold
reserves of Switzerland. Their governing board is composed of three members.
Information for the bank – as well as monetary policy details – can be found on their
official website.
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