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Economy of Switzerland

Economy of Switzerland
CountrySwitzerland
Width150
CaptionSwiss banknotes
Currency1 Swiss franc (CHF 1)
YearCalendar year
OrgansEFTA, WTO and OECD
Rank27th
GdpCHF 546.2 billion (2010)
$523.8 billion
$360.0 billion PPP billion|growth=2.1% nominal
1.0% per capita nominal
2.6% real
1.5% per capita real
Per CapitaCHF 69,797
$66,926 current
$45,997 PPP
Sectorsprimary (1.1%)
secondary (25.3%)
tertiary (73.6%)
Edbr21st
Inflation0.7%
Poverty4.8 %
Gini33.7 (2008)
Labor4.547 mio
Occupationsprimary (3.7%)
secondary (22.8%)
tertiary (73.5%)
Unemployment3.9%
4.2%
Industriesmachinery, chemicals, watches, textiles, precision instruments
Exports$173.2 billion (52.7% of GDP) (2009)
Export-goodsmachinery, chemicals, metals, watches, agricultural products
Export-partnersGermany 20.3%, US 9.4%, Italy 8.8%, France 8.6%, UK 4.7%, Spain 3.5%, Netherlands 3.0%
Imports$157.9 billion (40.7% of GDP) (2009)
Import-goodsmachinery, chemicals, vehicles, metals; agricultural products, textiles
Import-partnersGermany 34.7%, Italy 11.4%, France 9,7%, US 5.1%, Netherlands 4.8%, Austria 4.2%, UK 3.2%
FDI$395.6 billion (31 December 2009 est.)
Gross External Debt$1.339 trillion (30 June 2009)
Debt38.8% of GDP (2009 est.)
Revenue$190.3 billion (2008 est.)
Expenses$185.1 billion (2008 est.)
ReservesUS$291.073 billion (March 2011)
Credit*Standard & Poor's:
AAA (Domestic)
AAA (Foreign)
AAA (T&C Assessment)
Outlook: Stable *Moody's:
Aaa
Outlook: Stable *Fitch:
AAA
Outlook: Stable
Aiddonor: ODA CHF2.31 billion (0.47% of GDP)
Cianamesz

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The economy of Switzerland is one of the world's most stable economies. Its policy of long-term monetary security and political stability has made Switzerland a safe haven for investors, creating an economy that is increasingly dependent on a steady tide of foreign investment. Because of the country's small size and high labor specialisation, industry and trade are the keys to Switzerland's economic livelihood. Switzerland has achieved one of the highest per capita incomes in the world with low unemployment rates and a low budget deficit. The service sector has also come to play a significant economic role.

Economy of Switzerland Video

Born in 1942. Hans-Rudolf Merz obtained a Doctorate in political sciences from the University of St. Gallen in 1971. Between 1967 and 1969, he was assistant lecturer at the Institute of Public Finance and Fiscal Law at the University of St. Gallen. Hans-Rudolf Merz began his career as secretary of the Free Democratic Party (FDP) St. Gallen and managing director of the Appenzell Ausserrhoden Industrial Association, positions he held from 1969 to 1974. Subsequently, he worked as deputy director of UBSs Wolfsberg Executive Development Centre until 1977. Between 1977 and 2003, he served as an independent business consultant and was on the board of various Swiss industrial and services companies. Before being elected to the Federal Council, Hans-Rudolf Merz was Chairman of the Board of Directors of Helvetia Patria Insurance AG, Cilander Textile Finishing AG and Anova Holding AG. In 1997, Hans-Rudolf Merz was elected to the Council of States as a representative of Appenzell Ausserrhoden, where he chaired the Finance Committee and was a member of the Foreign Affairs and Security Policy Committees. In addition, he was Vice President of the OSCE delegation. After having been Chairman of Spinnerei Streiff AG and Chairman of the Appenzell Ausserrhoden Cantonal Bank, where he was responsible for the reorganisation and sale of the bank to the Union Bank of Switzerland, he held directorships in Huber + Suhner AG, Concast Holding AG, Steinegg Holding AG and SIG AG. In 2003, he was <b>...</b>
27.60 min. | 5.0 user rating		 Think for Yourself. This is what all the power in the world looks like...We are just a nuisance, they don't care about you, your just in their way. WAKE UP!! Here the list that was leaked in support of this video www.zerohedge.com In response to the Video Response www.prisonplanet.com Actual Footage of some of the Bilderberg group walking outside of the hotel as if nothing important was going on!! Video credit Stefan Hans Bauer youtu.be Astounding footage has emerged of top Bilderberg members being confronted by protesters as they walked on foot down the mountain road towards the Suvretta Hotel. Bilderberg attendees rarely ever venture outside of hotel grounds which is why this represents such a shocking development. Bilderbergers seen in the video clip include Peter Mandelson, Google founder Eric Schmidt, Peer Steinbrück, Franco Bernabe, Jacob Wallenberg, and Thomas Enders. In one of the scenes, a protester explains how he had a conversation with a Bilderberg member who arrogantly told him that Bilderberg were busy "setting their agenda" and that demonstrators shouldn't bother them. Bilderberger Thomas Enders tells one protester, "don't worry about it," when he complains about Bilderberg's undemocratic foundation. Music by Pharoahe Monch - WAR (We Are Renegades)
11.88 min. | 4.8 user rating		 Dr. Paul Achleitner: Born in 1956. Paul Achleitner received a Doctorate from the University of St. Gallen in Switzerland and studied at Harvard Business School. In 1984, he started his professional career at Bain & Co. in Boston, moving to the investment banking division of Goldman Sachs & Co. by 1988. After various positions in New York and London, he was appointed Chairman of Goldman Sachs & Co. oHG in Frankfurt in 1994, a position he held until 1999. In 2000, he joined the Management Board of Allianz SE, taking responsibility for group finance, a position he has held ever since. Paul Achleitner is a member of various Boards such as Bayer AG and RWE AG. Furthermore, he is a member of several government commissions of the Federal Republic of Germany such as the Takeover Board of the Federal Financial Supervisory Authority, the Government Commission German Corporate Governance Code and the Capital Markets Commission. Additionally, Paul Achleitner is honorary professor for finance at the WHU Koblenz, where he also serves on the Board of Trustees. Brady W. Dougan: Born in 1959. Brady Dougan received a Bachelor of Arts degree in economics in 1981 and an MBA in finance from the University of Chicago, Illinois, in 1982. Brady Dougan started his career in the derivatives group at Bankers Trust Company. In 1990, he joined Credit Suisse First Boston, where he was named Head of the Equities Division in 1996 and Global Head of Securities in 2001. After having served as Co-President <b>...</b>
53.57 min. | 5.0 user rating		 Award Ceremony of the St. Gallen Wings of Excellence Award and Panel with the Awardees Prof. Georg von Krogh: Born in 1963. Georg von Krogh received a Master of Science in engineering from the Norwegian University of Technology and Natural Sciences in 1986 and obtained a Ph.D. in management in 1990 from this universitys Department of Industrial Economics and Technology Management. Georg von Krogh started his career as assistant professor of business policy at SDA Bocconi, Bocconi University in Italy, before being appointed associate professor of strategy at the Norwegian School of Management, professor of management at the University of St. Gallen, and a director of its Institute of Management. Furthermore, he has been a visiting professor at the London School of Economics, Hitotsubashi University in Japan, the Japan Advanced Institute of Science and Technology, Massachusetts Institute of Technologys Sloan School of Management and was President of the Research Commission at the University of St. Gallen. Currently, Georg von Krogh is a professor at the Swiss Federal Institute of Technology (ETH) Zurich and holds the Chair of Strategic Management and Innovation. He is also the Head of the ETH Zurichs Department of Management, Technology and Economics. Georg von Krogh has consulted on strategy and trained executives for companies in Asia, Europe as well as the USA and is a board- or advisory board member of various companies and NGOs, including PricewaterhouseCoopers in <b>...</b>
70.50 min. | 5.0 user rating		 Born in 1958. Misha Glenny holds an honorary doctorate from the American University in Bulgaria. Misha Glenny is an award winning author and journalist who has been working in Central and Eastern Europe for 20 years. A former BBC Central Europe Correspondent with overall responsibility for coverage of the region, he has served as a visiting research professor at the London School of Economics and has written for various international newspapers. He has lectured at universities throughout Europe and the United States while the major diplomatic actors involved in the Balkans, including the Foreign Office and State Department at the highest level, continue to consult him regularly. Misha Glenny is a distinguished Fulbright scholar and a regular contributor to The New York Times, The New York Review of Books and The New Yorker. Furthermore, Misha Glenny is the author of three best-selling books, The Rebirth of History: Eastern Europe in the Age of Democracy, The Fall of Yugoslavia and The Balkans: 18041999. He is also the Founding Director of SEE Change, an NGO which completed a two-year project developing cross-border cooperation between multi-ethnic municipalities in Kosovo, Serbia and Macedonia. During this project, Misha Glenny started researching the rise of the shadow economy since the fall of communism and the advent of globalization. His latest book McMafia: Crime without Frontiers has already become an international bestseller.
36.03 min. | 5.0 user rating
Born in 1953. David Smick started his career as a member of the professional staff of the United States Senate in Washington in 1975. From 1978 until 1984, he served as chief of staff to a member of the leadership of the US House of Representatives. In 1985, working with the bipartisan leadership of the Congress, David Smick conceptualised and organised the series of US Congressional Summits on the Dollar and Trade, which was moderated by Alan Greenspan and attracted heads of state as well as ministers of finance and central bank governors from every major industrialised country. Currently, David Smick is Chairman and Chief Executive Officer of the Washington-based financial market advisory firm Johnson Smick International Inc., founded in 1985. David Smick is the founder, editor and publisher of The International Economy magazine, a quarterly publication launched in 1987. The publications Editorial Advisory Board includes the President of the European Central Bank, Jean Claude Trichet, the economist Jeffrey Sachs, Columbia University, and Martin Feldstein from Harvard University. David Smick is the author of the bestseller The World is Curved: Hidden Dangers to the Global Economy, which was published in 2008 and awarded the Gold Medal by the Axiom Business Book Awards as the years best book on international business and globalisation. His views on domestic and international economics have also appeared in major newspapers and magazines including The Wall Street Journal <b>...</b>
42.37 min. | 5.0 user rating		 Rex Hughes is Visiting Fellow for Cyber Security at Wolfson College, University of Cambridge and at the Munk School of Global Affairs, University of Toronto. He is internationally recognised for his expertise on the global political economy of the internet. Being a cyber defence advisor to NATO since 2008, Hughes authored the joint Chatham House-German Marshall study NATO and Global Cyber Defense in 2009 and was a leading contributor to the NATO Final Advisory Report on Cyber Defence and the 2010 Strategic Concept. As a member of the Cambridge-MIT Institute from 2005--2008, he advised affiliate companies including BT, Fujitsu, Nokia, and T-Mobile on disruptive technology roadmaps. In 2007, Hughes earned a Ph.D. in international relations from the University of Cambridge. Rafal Rohozinski (born in 1965) is Founder and Chief Executive Officer of Secdev Group, a company providing intelligence, toolsets as well as investigations that scan processes and address risk in the information age to clients from governments and business. His work spans two decades and 37 countries including conflict zones in the Commonwealth of Independent States, the Middle East and Africa. As one of Canada's thought leaders in the field of cyber security and internet freedom, he authored numerous academic and policy papers including, Stuxnet and the Future of Cyberwar as well as Liberation vs. Control: The Future of Cyberspace. In 2010, Rohozinski was named as one of the top five IT security <b>...</b>
38.20 min. | 5.0 user rating		 Born in 1963. Georg von Krogh received a Master of Science in engineering from the Norwegian University of Technology and Natural Sciences in 1986 and obtained a Ph.D. in management in 1990 from this universitys Department of Industrial Economics and Technology Management. Georg von Krogh started his career as assistant professor of business policy at SDA Bocconi, Bocconi University in Italy, before being appointed associate professor of strategy at the Norwegian School of Management, professor of management at the University of St. Gallen, and a director of its Institute of Management. Furthermore, he has been a visiting professor at the London School of Economics, Hitotsubashi University in Japan, the Japan Advanced Institute of Science and Technology, Massachusetts Institute of Technologys Sloan School of Management and was President of the Research Commission at the University of St. Gallen. Currently, Georg von Krogh is a professor at the Swiss Federal Institute of Technology (ETH) Zurich and holds the Chair of Strategic Management and Innovation. He is also the Head of the ETH Zurichs Department of Management, Technology and Economics. Georg von Krogh has consulted on strategy and trained executives for companies in Asia, Europe as well as the USA and is a board- or advisory board member of various companies and NGOs, including PricewaterhouseCoopers in Switzerland and the SKAT Foundation. He also serves as a member of the Chapter Board at the Swiss-American Chamber <b>...</b>
4.67 min. | 5.0 user rating		 Born in 1953. Toomas Hendrik Ilves obtained a Bachelor of Arts in psychology from Columbia University in 1976 and a Master of Arts in psychology from the University of Pennsylvania in 1978. From 1974 to 1979, Toomas Hendrik Ilves was a teacher and researcher at Columbia University in New York. Subsequently, he worked for a variety of educational institutions, such as the Open Education Center in Englewood, New Jersey, until he joined Radio Free Europe in Munich as a researcher and Head of the Estonian Desk in 1984. He started his diplomatic career in 1993 as Ambassador of the Republic of Estonia to the United States of America, Canada and Mexico. In 1996, he was appointed Minister of Foreign Affairs of the Republic of Estonia, a position he held until 2002 with a brief interruption in 1998, when he chaired the North Atlantic Institute. From 2002 to 2004, he acted as a member of parliament of the Republic of Estonia and thereupon, as a member of the European Parliament until 2006. Toomas Hendrik Ilves was elected President of the Republic of Estonia on 23 September 2006 and sworn into office on 9 October 2006. Toomas Hendrik Ilves was widely decorated and has served as a member of various management and advisory boards for civic groups, among others the Board of Trustees of the Estonian Academy of Arts in the years 2004 to 2006.
6.75 min. | 5.0 user rating		 Nasser Al Saidi (born in 1950) has been Chief Economist and Head of external relations at the Dubai International Financial Centre (DIFC) Authority since 2006. The DIFC is an onshore financial centre which provides an efficient platform for financial institutions to reach into and out of the emerging markets in the Middle East. As former Minister of Economy and Trade as well as Minister of Industry of Lebanon between 1998 and 2000, he authored many books addressing macroeconomic and international economic issues in Lebanon and the Arab region. In 2010, he was named among the 50 most influential Arabs in the World by The Middle East magazine. Al Saidi has been Professor of economics at the University of Chicago and holds a Ph.D. in economics from the University of Rochester, USA. Furthermore, he graduated with a Master of Science from University College London. Johan Galtung (born in 1930) is Professor of Peace Studies and Founder of TRANSCEND International, a global network for peace, development and environment. Being widely recognised as a pioneer in the academic discipline of peace studies, he has mediated in over 100 international conflicts. In 1959, Johan Galtung additionally founded the Peace Research Institute in Oslo (PRIO), the world's first of its kind. Beyond having published numerous articles and books, he also created the Journal of Peace Research. Johan Galtung has been a consultant to the United Nations and was awarded the Right Livelihood Award, also known <b>...</b>
62.67 min. | 5.0 user rating

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Credit Suisse: What's Crazy About All The Stimulus Talk Is That The World ... - The Business Insider Tweet this news
The Business Insider--And probably most of the people who work for Credit Suisse aren't in -Switzerland-. They are somewhere else. But living in a world that reports back to ... - Date : Thu, 21 Oct 2010 06:56:59 GMT+00:00
Dollar to Remain Weak on Scarcity of Credit Demand, Best Fund Manager Says - Bloomberg Tweet this news
Bloomberg---...- fiscal stimulus the -economy- receives, said Davies, who helps manage about $58 billion of currencies at the unit of UBS AG, -Switzerland's- biggest bank. ... - Date : Tue, 26 Oct 2010 08:20:41 GMT+00:00
Four Big Banks Should Plan to Bail Out of Europe: Matthew Lynn - Bloomberg Tweet this news
Bloomberg--In -Switzerland-, UBS had to be bailed out. In Iceland, the meltdown of the financial industry has just about bankrupted the country. ... - Date : Mon, 25 Oct 2010 23:16:22 GMT+00:00
Swiss export growth eases, economy seen losing speed - Reuters Tweet this news
Reuters--ZURICH, Oct 21 (Reuters) - -Switzerland's economy- is showing signs of slowing as a strong franc curbed export growth in ... - Date : Thu, 21 Oct 2010 13:01:49 GMT+00:00
Swiss consumption index posts first drop since May - Reuters Tweet this news
Reuters--The Swiss -economy- has emerged less bruised than many other European countries from the global recession thanks to its resilient consumers and the Swiss ... - Date : Tue, 26 Oct 2010 06:36:23 GMT+00:00

Year Gross Domestic Product US Dollar Exchange
1980 184,080 1.67 Francs
1985 244,421 2.43 Francs
1990 330,925 1.38 Francs
1995 373,599 1.18 Francs
2000 422,063 1.68 Francs
2005 463,799 1.24 Francs
2006 490,545 1.25 Francs
2007 521,068 1.20 Francs
2008 547,196 1.08 Francs
2009 535,282 1.09 Francs
2010 546,245 1.04 Francs

European Union :
Countries Agricultural
sector %		 Manufacturing
sector %		 Services
sector %		 Unemployment
rate %		 Unemployment
rate (males) %		 Unemployment
rate (females) %		 Average hours
worked per
week
Switzerland (2006) 3.8 23 73.2 4 4.7 3.4 41.6
European Union-25 countries (2006) 4.7 27.4 67.9 8.2 9 7.6 40.5
Germany (2006) 2.2 29.8 68 10.3 10.1 10.4 40.3
France (2006) 3.9 24.3 71.8 8.8 9.5 8.1 39.1
Italy (2006) 4.2 29.8 66 6.6 8.5 5.2 39.3
United Kingdom (2006) 1.3 22 76.7 5.3 4.8 5.7 42.4
United States (2005) 1.6 20.6 77.8 5.1 5.6 5.9 41

Members of the European Free Trade Association (EFTA)

Iceland * Liechtenstein * Norway * Switzerland

Organisation for Economic Co-operation and Development (OECD)

Australia * Austria * Belgium * Canada * Chile * Czech Republic * Denmark * Finland * France * Germany * Greece * Hungary * Iceland * Ireland * Italy * Japan * Luxembourg * Mexico * Netherlands * New Zealand * Norway * Poland * Portugal * Slovakia * South Korea * Spain * Sweden * Switzerland * Turkey * United Kingdom * United States



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