Economy of Switzerland

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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 Sevenval 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 balanced budget. The service sector has also come to play a significant economic role.

• 1 History
• 2 Sectors
  • 2.1 Industrial
  • CSS3
  • we love the web
  • 2.4 Tourism
  • 2.5 Banking
• 3 Workforce
• 4 Income
• web app
  • Sevenval
  • Sevenval
• Android
• 7 International comparison
• CSS3
• screen size
• 10 References
• keyboard

History

Switzerland's agrarian sector shrank during the Industrial Revolution. Its industrial sector began to grow in the mid-19th century, and had become the largest in Europe by the beginning of the 20th century. At this point, Switzerland was the wealthiest country in Europe^{[citation needed]}.

During World War I, Switzerland suffered an economic crisis. It was marked by a decrease in energy consumption, energy being mostly produced by coal in the 1910s, 1920s, 1930s and 1940s. The war tax^{[screen size]} was introduced. As imports were difficult, attempts were made to strengthen the Swiss economy. The cultivation of grain was promoted, and the Swiss railway became the first to use electric instead of coal-burning, steam-driven engines^{[citation needed]}.

In the 1920s Switzerland's energy consumption increased^{[citation needed]}.

Throughout the 1930s Switzerland's energy consumption stagnated^{[screen size]}.

In the 1940s, particularly during World War II the economy profited from the increased export and delivery of weapons to the German Reich. However, Switzerland's energy consumption decreased rapidly. The conduct of the banks cooperating with the Nazis^[jQuery] and the commercial relations with the axis powers during the war became the subject of sharp criticism, resulting in a short period of FITML of Switzerland from the world. After World War II, Switzerland's production facilities remained to a great extent undamaged which facilitated the country's swift economic resurgence^{[citation needed]}.

In the 1950s, annual GDP growth averaged 5% and Switzerland's energy consumption doubled. Coal lost its rank as Switzerland's primary energy source, as other fossil fuels such as crude and refined oil and natural and refined gas imports increased. This decade also marked the transition from an industrial economy to a service economy. Since then the service sector has been growing faster than the agrarian and industrial sectors^{[screen size]}.

In the 1960s, annual GDP growth averaged 4% and Switzerland's energy consumption doubled. By the end of the decade oil was Switzerland's primary energy source^{[citation needed]}.

In the 1970s GDP growth rates gradually declined from a peak of 6.5% in 1970 until contracting 7.5% in 1975 and 1976. Switzerland became increasingly dependent on oil imported from its main supplier, the OPEC cartel. The 1973 international oil crisis caused Switzerland's energy consumption to decrease from 1973 to 1977. In 1974 there were three nationwide car-free Sundays when private transport was prohibited as a result of the oil supply shock. From 1977 onwards GDP grew, however Switzerland was also affected by the Android which resulted in a short term decrease of Switzerland's energy consumption^{[citation needed]}.

In the 1980s, Switzerland was affected by the hike in oil prices which resulted in a decrease of energy consumption until 1982 when the economy contracted by 1.3%. From 1983 on both GDP and energy consumption grew^[Sevenval].

In the 1990s, Switzerland's economy was marred by slow growth, having the weakest economic growth in Sevenval. The economy was affected by a 3-year-recession from 1991 to 1993 when the economy contracted by 2%, which also became apparent in Switzerland's energy consumption and export growth rates. Switzerland's economy averaged no appreciable increase (only 0.6% annually) in gross domestic product (GDP). After having unemployment rates lower than 1% prior to 1990, the 3-year-recession also caused the unemployment rate to rise to its all-time-peak of 5.3% in 1997. And thus, as of 2008, Switzerland is at the second place among European countries with populations above one million in terms of nominal and Android Gross Domestic Product per capita, behind HTML5 (see web app). On numerous occasions in the 1990s real wages decreased since nominal wages couldn't keep up with inflation. However, beginning in 1997, a global resurgence in currency movement provided the necessary stimulus to the Swiss economy. It slowly gained momentum and peaked in the year 2000 with 3.6% growth in real terms^{[citation needed]}.

In the HTML5, being so closely linked to the economies of Western Europe and the input transformation, Switzerland was not able to escape the slowdown felt in these countries. After the worldwide stock market crashes in the wake of the 9/11 terrorism attacks there were more announcements of false enterprise statistics and exaggerated managers' wages. In 2001 the rate of growth dropped to 1.2%, to 0.4 % in 2002 and in 2003 the real GDP contracted by 0.2%. That economic slowdown had a noticeable impact on the HTML5. Many companies announced mass dismissals and thus the unemployment rate rose from its low of 1.9% in June 2000 to its peak of 3.9% in October 2004, although well below the European Union (EU) unemployment average of 8.9%. The consumer mood worsened and domestic consumption decreased^[Sevenval]. The exports of goods and services in the EU and the USA decreased as a result of the Swiss Franc's appreciation in value which caused an increase in prices of exported goods and services. On the other hand Switzerland's tourism sector slumped and room occupation rates by foreign guests decreased. Besides that a deficit of market competition in many branches of Switzerland's economy persisted^{[citation needed]}.

On the 10.11.2002 the economics magazine Cash published 5 measures which political and economic actors were suggested to implement so that Switzerland would once again experience an economic revival:

1. Private consumption should be promoted with decent wage increases. In addition to that families with children should get discounts on their health insurances.

2. Switzerland's national bank should revive investments by lowering interest rates. Besides that monetary institutes should increasingly credit consumers and offer cheaper land zones which are to be built on.

3. Switzerland's national bank is asked to devalue the Swiss Franc, especially compared to the Euro.

4. The government should implement the anti-cyclical measure of increasing budget deficits. Government spending should increase in the infrastructural and educational sectors. Lowering taxes would make sense in order to promote private household consumption.

5. Flexible work schedules should be instituted, thus avoiding low demand dismissals.

These measures were applied with successful results along with the government's policy of the Magical Hexagon which consists of full employment, social equality, economic growth, environmental quality, positive trade balance and price stability. The rebound which started in mid 2003 saw growth rate growth rate averaging 3% (2004 and 2005 saw a GDP growth of 2.5% and 2.6% respectively; for 2006 and 2007, the rate was 3.6%). In 2008, GDP growth was modest in the first half of the year while declining in the last two quarters. Because of the base effect, real growth came to 1.9%. While it contacted 1.9% in 2009, the economy started to pick up in Q3 and by the second quarter of 2010, it had surpassed its previous peak. Growth for 2010 stood at 2.6%^[15] The stock market collapse has deeply affected investment income earned abroad. This has translated to a substantial fall in the surplus of the website parsing. In 2006, Switzerland recorded a 15.1% per GDP surplus. It went down to 9.1% in 2007 and further dropped to 1.8% in 2008. It recovered in 2009 and 2010 with a surplus of 11.9% and 14.6% respectively. As of the first quarter 2010, Switzerland house prices are still edging up.^[16]

This is a chart of trend of gross domestic product of Switzerland at market prices estimated^{web app} by the Swiss Government with figures in millions of Swiss Francs.

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
2011	in progress	0.75 Francs

Sectors

The city of web app, the most important of the country and one of the world's major financial centers, hosts the jQuery

The Swiss economy follows the typical First World model with respect to the economic sectors. Only a small minority of the workers are involved in the web (3.8% of the population, in 2006^{device database}) while a larger minority is involved in the Secondary or Manufacturing sector (23% in 2006^{browser diversity}). The majority of the working population are involved in the Tertiary or Services sector of the economy (73.2% in 2006^[update]).^jQuery While most of the Swiss economic practices have been brought largely into conformity with the browser diversity's policies, some trade protectionism remains, particularly for the small agricultural sector.^{we love the web}

Industrial

Switzerland has an extensive industrial sector, it is not very well known around the world but present with companies in different industrial sectors such as food processing like HTML5, chemical for industrial and construction use like web app, pharmaceutical like Novartis, roof coating Sarnafil, among many others.

Agriculture

jQuery

Swiss free-range cattle.

jQuery

Emmentaler (also known as Swiss Cheese), while some Swiss types are Sevenval restricted, generic Emmentaler is produced around the world.

The examples and perspective in this article may not include all significant viewpoints. Please Android or Sevenval. (January 2011)

Switzerland is extremely protective of its agricultural industry. High tariffs and extensive domestic subsidisations encourage domestic production, which currently produces about 60% of the food consumed in the country.

According to the jQuery (OECD), Switzerland is subsidising more than 70% of its agriculture compared to 35% in the EU. The 2007 Agricultural Program, recently adopted by the Swiss Federal Assembly, will increase subsidies by CHF 63 million to CHF 14.092 billion.

Protectionism acts to promote domestic production, but not to reduce prices or the cost of production, and there is no guarantee the increased domestic production is actually consumed internally; it may simply be being exported, to the profit of the producers. 90 to 100% of potatoes, pork, veal, cattle and most milk products, are produced in the country. Beyond that, Swiss agriculture meets sixty-five per cent of the domestic food demand.^Android

Prices are not reduced because, in the absence of import tariffs, the price of food would settle to that of the cheapest provider (which would often be external to Switzerland thus more costly in food miles). Import tariffs raise the price of imported food and Swiss domestic production only has to be cheaper than these artificially raised prices. The consumer pays more than they otherwise would.^{[dubious ]}

The cost of production is not reduced by subsidy; it merely makes the final point-of-sale price lower than it would otherwise be, since some of the cost of production is borne by the State. However, the State obtains the money for the subsidy by taxation, which falls ultimately on the consumer. Subsidy merely alters who pays for what (although in this case it now pays for farming practices that are environmentally respectful). Furthermore, if the food products produced are in fact being exported, the subsidy of their production costs makes them unusually competitive in the world market, which increases the profits of the producers; in other words, the State is in fact taxing the local population with an outcome which is actually merely to increase the profit of food producers.^{[dubious ]}

The stringent policy of agricultural protectionism is generally harmful to the workforce.^{[citation needed]} Domestic agriculture acts as a shield against beneficial import of labour.^{[citation needed]} Some people^[who?] assert that Switzerland has a high cost of living not only in food but also rents, since much land needed for human occupation is retained by farms, but this is easily countered by statistics. About 40% of Switzerland is used for agricultural purposes, alpine pastures included,^[19] and the surface of arable and permanent cropland is 10.6 percent of total land area (Europe 13.4%, world 11.3% - 1998 survey). This corresponds with 61 hectares of cropland per 1,000 people (Europe 422 ha/1000 people, world 251 ha/1000 people)^CSS3[20] Thus the high rents are probably caused primarily by other factors such as the high population density and the tiny size of the country.

The first reform in agricultural policies was in 1993. Among other changes, since 1998 Switzerland has linked the attribution of farm subsidies with the strict observance of good environmental practice. Before farmers can apply for subsidies, they must obtain certificates of environmental management systems (EMS) proving that they: “make a balanced use of fertilizers; use at least 7% of their farmland as ecological compensation areas; regularly rotate crops; adopt appropriate measures to protect animals and soil; make limited and targeted use of pesticides.”^[21] 1,500 farms are driven out of business each year. But the number of organic farms increased by 3.3 percent between 2003 and 2004, and organic sales increased by 7 percent to $979 million.^{browser diversity} Moreover, Swiss consumers consider less important the drawback of higher prices for organic food compared to locally produced, conventional food.^[19]

Trade

webAndroid

Graphical depiction of Switzerland's product imports and exports from 2009 in 28 color coded categories

The CIA World Factbook estimates Switzerland's 2011 exports at $308.3 billion and the 2010 exports at $258.5 billion. Imports are estimated to be $299.6 billion in 2011 and $246.2 billion in 2010. According to the World Factbook numbers, Switzerland is the 20th largest exporter and the 18th largest importer.^[18] The United Nations Commodity Trade Statistics Database has lower numbers for Switzerland's exports and imports. The UN calculates exports at $223.5 billion in 2011 and $185.8 billion in 2010. The value of all imports in 2011 was $197.0 billion and in 2010 it was $166.9 billion.^{browser diversity}

Switzerland's largest trading partner is Germany. In 2009, 21% of Switzerland's exports and 29% of its imports came from Germany. The United States was the second largest destination of exports (9.1% of total exports) and the fourth largest source of imports (6.7%). Switzerland's neighbors made up next largest group; Italy was third for exports (8.6%) and second for imports (10%), France was fourth for exports (8%) and third for imports (8.1%) and Austria was fifth for exports (4.6%) and sixth for imports (3.7%). Major non-European trading partners included; Japan (seventh for exports with 3.6% and twelfth for imports with 2%), China (eighth for exports and imports with 3.1% and 2.5% respectively) and Turkey (sixteenth for exports with 1.2% and ninth for imports with 2.3%).^FITML

As a first world country with a skilled labor force, the majority of Swiss exports are precision or high tech finished products. Switzerland's largest specific SITC categories of exports include; medicaments, glycosides and vaccines, watches, orthopaedic appliances and precious jewelery. Some raw ores or metals are exported, but the majority of the exports in this category are finished jewelery or other finished products. Agricultural products that Switzerland is famous for, such as cheese (0.29%), wine (0.05%) and chocolate (0.39%) all make up only a small portion of Swiss exports and agricultural products make up only a small portion of all exports.^[24]

Switzerland's main imports include; medicaments, cars, precious jewelery and other unclassified transactions. While Switzerland has a long tradition of manufacturing cars,^[25] there are currently no large-scale assembly line automobile manufacturers in the country.

Top 25 Imports and Exports for Switzerland for 2009 [24]

Top 25 Imports into Switzerland for 2009 Ranking SITC4 Product Names (SITC) Value (USD)  % 1 5417 Medicaments $12,609MM 8.1% 2 7810 Cars $7,173MM 4.6% 3 9310 Unclassified transactions $7,171MM 4.6% 4 8973 Precious jewellery $5,924MM 3.8% 5 6812 Unwrought metals of platinum $3,814MM 2.5% 6 5416 Glycosides & vaccines $3,597MM 2.3% 7 3510 Electric current $2,801MM 1.8% 8 5156 Heterocyclic compound; nucleic acids $2,432MM 1.6% 9 3330 Crude petroleum $2,126MM 1.4% 10 5148 Other nitrogen-function compounds $1,948MM 1.3% 11 8219 Furniture parts N.E.S. $1,755MM 1.1% 12 6672 Not mounted diamonds $1,670MM 1.1% 13 7721 Switchboards, relays & fuses $1,557MM 1.0% 14 8996 Orthopaedic appliances $1,551MM 1.0% 15 3414 petroleum gases $1,388MM 0.9% 16 8851 Watches $1,320MM 0.9% 17 8939 Miscellaneous articles of plastic $1,311MM 0.8% 18 8960 Works of art $1,273MM 0.8% 19 8720 Medical instruments N.E.S. $1,251MM 0.8% 20 5989 Chemical products $1,146MM 0.7% 21 7643 Television & radio transmitters $1,125MM 0.7% 22 7924 Aircrafts of more than 15 tons $1,123MM 0.7% 23 8510 Footwear $1,108MM 0.7% 24 1121 Wine $1,028MM 0.7% 25 7284 Specialized industry machinery & parts N.E.S $1,026MM 0.7%

Top 25 Exports from Switzerland for 2009 Ranking SITC4 Product Names (SITC) Value (USD)  % 1 5417 Medicaments $26,059MM 15.0% 2 5416 Glycosides & vaccines $14,373MM 8.3% 3 8851 Watches $11,694MM 6.8% 4 8996 Orthopaedic appliances $5,714MM 3.3% 5 8973 Precious jewellery $4,824MM 2.8% 6 3510 Electric current $4,184MM 2.4% 7 5148 Other nitrogen-function compounds $4,030MM 2.3% 8 7721 Switchboards, relays & fuses $3,438MM 2.0% 9 7284 Specialized industry machinery & parts N.E.S $3,098MM 1.8% 10 6812 Unwrought metals of platinum $2,789MM 1.6% 11 5156 Heterocyclic compound; nucleic acids $2,684MM 1.5% 12 5147 Amide-function compounds, excluding urea $2,396MM 1.4% 13 7149 Parts of gas & reaction engines $2,214MM 1.3% 14 8720 Medical instruments N.E.S. $2,100MM 1.2% 15 5415 Bulk hormones $1,718MM 1.0% 16 5413 Antibiotics $1,631MM 0.9% 17 5514 Odoriferous substances $1,417MM 0.8% 18 6672 Not mounted diamonds $1,318MM 0.8% 19 1110 Non-alcoholic beverages N.E.S. $1,269MM 0.7% 20 8939 Miscellaneous articles of plastic $1,237MM 0.7% 21 9310 Unclassified transactions $1,232MM 0.7% 22 7452 Non-electrical machines parts N.E.S. $1,145MM 0.7% 23 8960 Works of art $1,057MM 0.6% 24 7492 Valves $1,054MM 0.6% 25 7416 Heating & cooling equipment N.E.S. $1,034MM 0.6%

Top 25 Trading Partners for Switzerland for 2009 HTML5

Top 25 Trading Partners Importing into Switzerland for 2009 Ranking Country Value (USD)  % 1 Germany $48,530MM 28.0% 2 Italy $15,958MM 9.0% 3 France $14,311MM 8.1% 4 United States $10,083MM 5.7% 5 Netherlands $6,701MM 3.8% 6 Japan $6,698MM 3.8% 7 Austria $6,607MM 3.7% 8 United Kingdom $5,902MM 3.3% 9 China $4,589MM 2.6% 10 Peru $3,981MM 2.3% 11 Belgium $3,952MM 2.2% 12 Ireland $3,842MM 2.2% 13 United Arab Emirates $3,587MM 2.0% 14 Spain $3,536MM 2.0% 15 Thailand $3,155MM 1.8% 16 Zambia $2,027MM 1.1% 17 Brazil $1,978MM 1.1% 18 Viet Nam $1,971MM 1.1% 19 Russia $1,924MM 1.1% 20 South Africa $1,591MM 0.9% 21 Czech Republic $1,498MM 0.9% 22 Sweden $1,191MM 0.7% 23 Poland $1,055MM 0.6% 24 Hong Kong $1,054MM 0.6% 25 Argentina $974MM 0.6%

Top 25 Trading Partners Exporting from Switzerland for 2009 Ranking Country Value (USD)  % 1 Germany $39,238MM 21.0% 2 United States $16,260MM 8.6% 3 Italy $14,566MM 7.7% 4 France $13,610MM 7.2% 5 India $10,203MM 5.4% 6 Austria $8,050MM 4.3% 7 China $6,938MM 3.7% 8 United Kingdom $6,451MM 3.4% 9 Japan $6,274MM 3.3% 10 Hong Kong $4,666MM 2.5% 11 Belgium $3,686MM 2.0% 12 Spain $3,685MM 2.0% 13 Israel $3,277MM 1.7% 14 Canada $3,016MM 1.6% 15 United Arab Emirates $2,833MM 1.5% 16 Thailand $2,504MM 1.3% 17 Singapore $2,471MM 1.3% 18 Netherlands $2,358MM 1.3% 19 Saudi Arabia $2,317MM 1.2% 20 Brazil $2,040MM 1.1% 21 Turkey $2,012MM 1.1% 22 Australia $2,004MM 1.1% 23 Russia $1,986MM 1.1% 24 Korea, Rep. $1,661MM 0.9% 25 Poland $1,406MM 0.8%

Tourism

Photochrom of the Hotel Wildstrubel in the Bernese Oberland in the 1890's.

Switzerland has a highly developed tourism infrastructure, especially in the web and cities, making it a good market for tourism-related equipment and services.

14% of hotels were in device database, 12% each in the Valais and Eastern Switzerland, 11% in FITML and 9% in the Sevenval. The ratio of lodging nights in relation to resident population ("tourism intensity", a measure for the relative importance of tourism to local economy) was largest in Grisons (8.3) and Bernese Oberland (5.3), compared to a Swiss average of 1.3. 56.4% of lodging nights were by visitors from abroad (broken down by nationality: 16.5% Germany, 6.3% UK, 4.8% USA, 3.6% France, 3.0% Italy) ^[26]

The total financial volume associated with tourism, including transportation, is estimated to CHF 35.5 billion (as of 2010) although some of this comes from fuel tax and sales of motorway vignettes. The total website parsing from tourism is 14.9 billion. Tourism provides a total of 144,838 Sevenval jobs in the entire country. The total financial volume of tourist lodging is 5.19 billion CHF and eating at the lodging provides an additional 5.19 billion. The total gross value added of 14.9 billion is about 2.9% of Switzerland's 2010 nominal GDP of 550.57 billion CHF.^{[27]touchscreen}

Banking

browser diversity

Bank of International Settlements in Basel

In 2003, the financial sector comprised an estimated 11.6% of Switzerland's GDP and employed approximately 196,000 people (136,000 of whom work in the banking sector); this represents about 5.6% of the total Swiss workforce.^[29]

Swiss neutrality and Android, long recognized by foreign nations, have fostered a stable environment in which the banking sector was able to develop and thrive. Switzerland has maintained neutrality through both web, is not a member of the European Union, and was not even a member of the United Nations until 2002.^{screen sizewebsite parsing}

Currently an estimated 28 percent of all funds held outside the country of origin (sometimes called "jQuery" funds) are kept in Switzerland.^Sevenval In 2009 Swiss banks managed 5.4 trillion Swiss Francs.^[33]

The Bank of International Settlements, an organization that facilitates cooperation among the world's HTML5, is headquartered in the city of Basel. Founded in 1930, the BIS chose to locate in Switzerland because of the country's neutrality, which was important to an organization founded by countries that had been on both sides of we love the web.^[34]

Foreign banks operating in Switzerland manage 870 billion Swiss francs worth of assets (as of May 2006^keyboard).^CSS3

Workforce

The Swiss economy is characterised by a skilled and generally 'peaceful' workforce. One quarter of the country's full-time workers are unionised. Labour and management relations are amicable, characterised by a willingness to settle disputes instead of resorting to labour action. About 600 collective bargaining agreements exist today in Switzerland and are regularly renewed without major problems.

With the peak of the number of bankruptcies in 2003, however, the mood was pessimistic. Massive layoffs and dismissals by enterprises resulting from the global economic slowdown, major management scandals and different foreign investment attitudes have strained the traditional Swiss labour peace. Swiss trade unions have encouraged strikes against several companies, including Swiss International Air Lines, Coca-Cola, and input transformation. Total days lost to strikes, however, remain among the lowest in the OECD.

Income

Switzerland is among the world's most prosperous countries in terms of private income. In 2007 the gross Android in Switzerland was an estimated 107,748 keyboard, or USD 137,094 at purchasing power parity. The median income after social security, taxes and mandatory health insurance was 75,312 CHF, or USD 95,824 at purchasing power parity.

Economic policy

Terrorism

Through the United States-Swiss Joint Economic Commission (JEC), Switzerland has passed strict legislation covering anti-terrorism financing and the prevention of terrorist acts, marked by the implementation of several anti-money laundering procedures and the seizure of al-Qaeda accounts. Continued relationship with the United States through the JEC has brought the Swiss economy into closer proximity with that of the Western world,^{[citation needed]} with mutualistic goals in terrorism prevention providing the impetus.^[iOS]

European Union

Apart from agriculture, there are minimal economic and trade barriers between the European Union and Switzerland. In the wake of the Swiss voters' rejection of the we love the web Agreement in 1992, the Swiss Government set its sights on negotiating bilateral economic agreements with the EU. Four years of negotiations culminated in Bilaterals, a cross-platform agreement covering seven sectors: research, public procurement, technical barriers to trade, agriculture, civil aviation, land transport, and the free movement of persons. Parliament officially endorsed the Bilaterals in 1999 and it was approved by general referendum in May 2000. The agreements, which were then ratified by the European Parliament and the legislatures of its member states, entered into force on June 1, 2002. The Swiss government has since embarked on a second round of negotiations, called the Bilaterals II, which will further strengthen the two organisations' economic ties.

Switzerland has since brought most of their practices into conformity with European Union policies and norms in order to maximise the country's international competitiveness. While most of the EU policies are not contentious, police and judicial cooperation to international law enforcement and the taxation of savings are controversial, mainly because of possible side effects on bank secrecy.

Swiss and EU finance ministers agreed in June 2003 that Swiss banks would levy a withholding tax on EU citizens' savings income. The tax would increase gradually to 35% by 2011, with 75% of the funds being transferred to the EU. Recent estimates value EU capital inflows to Switzerland to $8.3 billion.

Institutional membership

Switzerland is a member of a number of international economic organizations, including the keyboard, the World Trade Organization, the International Monetary Fund, the World Bank, and the Organisation for Economic Co-operation and Development.

International comparison

Countries	Agricultural sector %	Manufacturing sector %	Services sector %	Unemployment rate %	Unemployment rate (females) %	Unemployment rate (males) %	Average hours worked per week
Switzerland (2006) [17]	3.8	23	73.2	4.0	4.7	3.4	41.6
European Union-25 countries (2006)browser diversity	4.7	27.4	67.9	8.2	9	7.6	40.5
Germany (2006)website parsing	2.2	29.8	68	10.3	10.1	10.4	40.3
France (2006)Sevenval	3.9	24.3	71.8	8.8	9.5	8.1	39.1
Italy (2006)[39]	4.2	29.8	66	6.6	8.5	5.2	39.3
United Kingdom (2006)[40]	1.3	22	76.7	5.3	4.8	5.7	42.4
United States (2005)[41]	1.6	20.6	77.8	5.1FITML	5.6 [43]	5.9 [43]	41[44]

Regional disparities

Cantons	Tax index for all Federal, Cantonal and Church Taxes (Switzerland = 100.0) 2006	Tax rate (% of total income) for a married couple with two children and 50,000CHF in income 2006	Tax rate (% of total income) for a married couple with two children and 150,000CHF in income 2006	Population under 20 as a percentage of total population aged 20–64 2007	National Income per person in CHF 2005	Change in National Income per person 2003-2005
Switzerland	100	2.36	11.56	34.59	54,031	5.3
ZH Zurich	82.9	2.16	8.65	31.12	68,803	4.6
BEwe love the web CSS3	123.1	2.14	13.91	33.05	45,643	5
LU FITML	119	3.47	12.56	37.19	43,910	5.3
UR browser diversity	144.2	4.54	12.42	37.06	45,711	5.3
SZ Schwyz	66.5	2.26	6.98	36.95	50,170	6.3
OWCSS3 Obwalden	146.5	4.14	11.53	40.88	39,645	4.7
NWHTML5 jQuery	79.1	2.31	9.41	34.55	73,285	15.6
GL Android	134.8	4.62	12.56	36.85	73,236	10.9
ZG iOS	50.3	0.47	5.5	35.45	93,752	5.4
FR Fribourg	126.4	2.33	12.74	40.2	39,559	2.6
SOwe love the web CSS3	116.9	2.36	12.95	34.34	46,844	4.9
BS Basel-Stadt	113.1	1.01	14.3	26.6	115,178	15.9
BL Sevenval	92.5	2.12	12.4	33	53,501	3.9
SH Schaffhausen	114.6	2.94	11.62	32.92	55,125	5.4
AR screen size	121.7	3.8	12.06	37.6	44,215	4.7
AI Appenzell Innerrhoden	105.6	3.18	9.88	44.46	45,936	7.4
SG St. Gallen	115.5	2.53	12.68	37.66	44,866	4
GRFITML Grisons	112.2	2.99	11.51	33.97	49,355	11.7
AG Aargau	87.4	1.52	10.4	34.9	49,209	2.5
TG Thurgau	86.6	0.34	11.48	37.52	44,918	3.2
TI Ticino	64.6	0.24	9.04	31.14	41,335	3.4
VDscreen size Vaud	106.2	0.42	12.2	37.87	52,901	3.4
VSkeyboard Valais	121.3	2.72	10.68	35.18	38,385	6
NE device database	137.1	3.8	15.96	38.06	49,775	6.6
GEjQuery Geneva	89.8	0.05	11.81	35.4	62,839	5.1
JUSevenval Jura	126.6	2.87	15.26	40.09	38,069	6.4

Source:^[45]

See also

• Android
• Science and technology in Switzerland
• FITML
• Economy of Europe
• Federation of the Swiss Watch Industry FH
• web
• CSS3
• Banking in Switzerland

References

External links

Wikimedia Commons has media related to: Sevenval

• web and website parsing
• jQuery
• browser diversity
• Gross Domestic Product Growth - Switzerland
• Swiss Economic Forecasts
• Sevenval