Economy

Switzerland has one of the most competitive economies in the world, mainly thanks to its highly developed services sector.

Economic sectors in Switzerland: Banking, insurance, commodity trading, tourism, chemicals and pharmaceuticals, mechanical engineering and metals, watchmaking industry, etc.

The types of energy most used are petroleum products, electricity from hydroelectric and nuclear power plants, and natural gas. Renewable energies have been steadily gaining ground in recent years, especially solar power. With its Energy Strategy 2050, Switzerland aims to significantly reduce its energy-related environmental impact and its dependence on other countries.

Whether by rail, road or air: a dense and efficient transport network gives the Swiss a high degree of personal mobility.

The Swiss telecommunications market is dominated by the incumbent telecom operator, Swisscom. However, the market has become more diversified since the arrival of other providers like Cablecom, Sunrise and Orange.

High household incomes and a stable labour market underpin comprehensive pension schemes and an excellent healthcare system.

Switzerland's financial sector is a global leader in wealth management, with Swiss banks, insurance companies and pension funds generating around 10% of the country's value-added. Switzerland both shapes and implements international standards.