Swiss economy – Overview

A row of Swiss army knives laid out on a workbench.
Just like the Swiss Army knife, Swiss products and services are high quality and reliable. © Presence Switzerland

Switzerland is one of the most competitive economies in the world, in large part thanks to its flourishing service sector. By international standards public debt in Switzerland is low, and the country has a competitive tax system. Small-and medium-sized enterprises are the mainstay of the export-oriented Swiss economy.

Switzerland's comparatively low level of public debt was achieved through a cap on public spending. Since then, the federal government has regularly reported an end-of-year surplus. The Swiss tax system reflects the country's federal structure. Competitive corporate tax rates set by the cantons make Switzerland an attractive location for companies, and many multinational corporations are based in Switzerland. 

However the mainstay of the economy are still small and medium-sized enterprises (SMEs). Many of these companies are export-oriented, which is why Switzerland regularly runs a trade surplus.

Swiss Economy – Facts and Figures

Switzerland has one of the most competitive economies in the world thanks above all to its highly developed service sector.

Public Finances

By international standards public debt in Switzerland is low. Over the last few years public finances have consistently been in surplus.

Taxation

Private individuals and businesses in Switzerland benefit from some of the lowest tax rates in Europe.

Business

Small-and medium-sized enterprises are the mainstay of the Swiss economy. However, the large number of multinationals based here are also major economic players.

Export

Poor in commodities but rich in a highly qualified workforce, Switzerland maintains intensive trade relations with the rest of the world.

Research and Development

Switzerland is one of the highest spenders on research and development in the world.