Economy of Switzerland
Switzerland is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Switzerland is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Switzerland exports around $229.2 billion and imports roughly $200.5 billion. 5% of population in the country are unemployed. The total number of unemployed people in Switzerland is 427,202. In Switzerland, 7.6% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Switzerland is low, indicating that it has a stable economy. Investors should consider Switzerland to be a safe location for investments and other financial ventures. Government expenditure on education is 5.2% of GDP. The Gini Index of the country is 28.7. Switzerland is experiencing high equality. Differences in income among citizens are only mildly significant. Switzerland has a Human Development Index (HDI) of 0.917. Switzerland has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Switzerland is 1.275. Due to strong law enforcement presence and high social responsibility, Switzerland is very safe by international standards. The strength of legal rights index for Switzerland is 6. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.
Currency
The currency of Switzerland is Swiss franc. The Swiss franc is the official currency of Switzerland and Liechtenstein. It was introduced in 1798 to unify several currencies that were in use in Switzerland at the time. Switzerland is a stable currency that can be relied upon for investment opportunities. The plural form of the word Swiss franc is francs. The symbol used for this currency is Fr, and it is abbreviated as CHF. The Swiss franc is divided into Rappen; there are 100 in one franc.
Credit rating
The depth of credit information index for Switzerland is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Switzerland has a credit rating score of AAA, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Switzerland has a credit rating score of AAA, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Switzerland has a credit rating score of Aaa, and the prospects of this rating are stable.
Central bank
In Switzerland, the institution that manages the state's currency, money supply, and interest rates is called Swiss National Bank. Locally, the central bank of Switzerland is called Schweizerische Nationalbank,Banque Nationale Suisse,Banca Nazionale Svizzera,Banca Naziunala Svizra. The average deposit interest rate offered by local banks in Switzerland is 0.76%.
Public debt
Switzerland has a government debt of 52.4% of the country's Gross Domestic Product (GDP), as assessed in 2011.
Tax information
The corporate tax in Switzerland is set at 16.55%. Personal income tax ranges from 0% to 13.2%, depending on your specific situation and income level. VAT in Switzerland is 8%.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Switzerland is $473331 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Switzerland was last recorded at $55 million. PPP in Switzerland is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Switzerland is 685,434 billion. Based on this statistic, Switzerland is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Switzerland. The Gross Domestic Product (GDP) per capita in Switzerland was last recorded at $80 million. The average citizen in Switzerland has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Switzerland averaged 1.3% in 2014. According to this percentage, Switzerland is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Switzerland.
Industry
Major industries in the country are machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance. The total labor force of Switzerland is 4,916,660 people, wherein 5% of population in the country are unemployed. The total number of unemployed people in Switzerland is 427,202. The Industrial Production growth rate of Switzerland is 2.7%.To read more about industrial information within Switzerland click on industry of Switzerland.
Agriculture
There are 3941 km2 of arable land in Switzerland, and it comprises 10% of the country's total territory. There are 4172 km2 of cultivated land in Switzerland. The country's major agricultural crops and products are grains, fruits, vegetables, meat, eggs.To read more about agriculture click on agriculture of Switzerland.