Economy of Switzerland
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The economy of Switzerland is one of the world's most advanced and a highly-developed free market economy. The economy of Switzerland has ranked first in the world since 2015 on the Global Innovation Index[19][20] and third in the 2020 Global Competitiveness Report.[21][22] According to United Nations data for 2016, Switzerland is the third richest landlocked country in the world after Liechtenstein and Luxembourg. Together with the latter and Norway, they are the only three countries in the world with a GDP per capita (nominal) above US$90,000 that are neither island nations nor ministates.[23]
Quick Facts Currency, Fiscal year ...
Currency | Swiss franc (CHF) |
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Calendar year | |
Trade organisations | EFTA, WTO and OECD |
Country group |
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Statistics | |
Population | 8,636,986 (2020)[4] |
GDP | |
GDP rank | |
GDP growth |
|
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
2.4% (2023)[5] | |
Population below poverty line | |
31.1 low (2022)[7] | |
Labour force | |
Labour force by occupation |
|
Unemployment | |
Average gross salary | $89,154 annual (2022)[14] |
Main industries | |
External | |
Exports | $468.7 billion (2020)[3][note 1] |
Export goods | machinery, chemicals, metals, watches, agricultural products |
Main export partners |
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Imports | $291.1 billion (2020)[3] |
Import goods | machinery, chemicals, vehicles, metals, agricultural products, textiles |
Main import partners |
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FDI stock | |
$66.55 billion (2017 est.)[3] | |
Gross external debt | $1.664 trillion (31 March 2016 est.)[3] |
Public finances | |
41.8% of GDP (2017 est.)[3][note 2] | |
1.1% (of GDP) (2017 est.)[3] | |
Revenues | 242.1 billion (2017 est.)[3] |
Expenses | 234.4 billion (2017 est.)[3] [note 3] |
Economic aid | Donor: ODA 3 billion CHF (0.50% of GDP)[15] |
$1.25 trillion (January 2023)[3] (3rd) | |
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