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With a population of 8,508,898 (2018 estimate), Switzerland is a mountainous Central European country, home to numerous lakes, villages and the high peaks of the Alps. Its cities contain medieval quarters, with landmarks like capital Bern’s Zytglogge clock tower and Lucerne’s wooden chapel bridge. The country is also known for its ski resorts and hiking trails. Banking and finance are key industries, and Swiss watches and chocolate are world renowned.
Switzerland is home to several large multinational corporations. The largest Swiss companies by revenue are Glencore, Gunvor, Nestlé, Novartis, Hoffmann-La Roche, ABB, Mercuria Energy Group and Adecco. Also, notable are UBS AG, Zurich Financial Services, Credit Suisse, Barry Callebaut, Swiss Re, Tetra Pak, The Swatch Group and Swiss International Air Lines. Switzerland is ranked as having one of the most powerful economies in the world.
Switzerland’s most important economic sector is manufacturing. Manufacturing consists largely of the production of specialist chemicals, health and pharmaceutical goods, scientific and precision measuring instruments and musical instruments. The largest exported goods are chemicals (34% of exported goods), machines/electronics (20.9%), and precision instruments/watches (16.9%). Exported services amount to a third of exports. The service sector – especially banking and insurance, tourism, and international organisations – is another important industry for Switzerland.
Switzerland is one of the most developed countries in the world, with the highest nominal wealth per adult and the eighth-highest per capita gross domestic product according to the IMF. Switzerland ranks at or near the top globally in several metrics of national performance, including government transparency, civil liberties, quality of life, economic competitiveness, and human development. Zürich and Geneva have each been ranked among the top cities in the world in terms of quality of life, with the former ranked second globally, according to Mercer.
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