Economic Profile

A Stable and Competitive Powerhouse

Switzerland offers an attractive market for international companies, a reputation built on its outstanding economic prosperity, stability, and a highly efficient and transparent environment. Its economy is reinforced by a dominant service sector, high-value export industries, and significant trade agreements that provide broad access to international markets. This section breaks down the key indicators and structural components that define Switzerland’s economic strength

Core Economic Data

Gross Domestic Product (GDP)

947 Billion USD

Population

8.8 Million

as of 2023

Average GDP Growth

0.7%

A World-Class Business Environment

Switzerland consistently ranks among the top countries in the world for its competitiveness and transparent business practices. These rankings reflect a stable, efficient, and reliable economic landscape.

Global Competitiveness Ranking (2024): 2nd
Business Efficiency (2024): 5th
Corruption Perception Index (2024): 5th (Ranked among the least corrupt)

Composition of the Swiss Economy

Services Sector: Accounts for 74.9% of the economy. This includes banking, finance, insurance, and tourism.
Industrial Sector: Makes up 24.5% of the economy. This is driven by pharmaceuticals, machinery, and watchmaking.
Agricultural Sector: Represents 0.6% of the economy.

Strengths and Considerations

While Switzerland’s economic profile is overwhelmingly positive, any business analysis must consider both its strengths and its inherent challenges

Economic Strength and Stability: The foundation of the Swiss market is its excellent economic prosperity and stability. This is supported by an efficient and transparent business environment, world-class infrastructure, and a dominant service economy that provides a solid base for growth.

Competitive Pressures: However, businesses must be prepared for the realities of operating in this market. The Swiss market is characterized by high operating costs and a very competitive environment. Success depends on a company’s ability to offer high value and adapt to these demanding conditions.