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Switzerland
Chamber of Commerce Country Factsheet Last update: 19.06.2018

Your advisors at the Chamber of Commerce

  • Steven Koener
    +352423939379
  • Violaine Mathurin
    +352423939481
Contact us: europe@cc.lu

Key Indicators

Area
41,277 km2
Population
8,236,303 (July 2017 est.)
Government type
formally a confederation but similar in structure to a federal republic
Languages
German (or Swiss German) (official) 63%, French (official) 22.7%, Italian (official) 8.1%, English 4.9%, Portuguese 3.7%, Albanian 3%, Serbo-Croatian 2.4%, Spanish 2.2%, Romansch (official) 0.5%, other 7.1%
GDP
$516.7 billion (2017 est.)
Growth rate
1% (2017 est.)
HDI
2
Capital
Bern

 

Introduction

The Swiss Confederation was founded in 1291 as a defensive alliance among three cantons. In succeeding years, other localities joined the original three. The Swiss Confederation secured its independence from the Holy Roman Empire in 1499. A constitution of 1848, subsequently modified in 1874, replaced the confederation with a centralized federal government. Switzerland's sovereignty and neutrality have long been honored by the major European powers, and the country was not involved in either of the two world wars. The political and economic integration of Europe over the past half century, as well as Switzerland's role in many UN and international organizations, has strengthened Switzerland's ties with its neighbors. However, the country did not officially become a UN member until 2002. Switzerland remains active in many UN and international organizations but retains a strong commitment to neutrality.

Source:  The CIA World Factbook - Switzerland 

 

Macroeconomic indicators

Growth is projected to become more broad-based during the projection period as the weak domestic economy gradually accelerates. The worldwide recovery will continue to support exports. Inflation will remain subdued and is projected to exceed 1% only at the end of 2019. The large current account surplus will persist.

Monetary policy remains accommodative. With rising consumer price inflation, currently negative policy rates are projected to start to be raised in 2019. The fiscal surplus will gradually decrease as exceptional revenues unwind. Pension reform is becoming increasingly urgent to ensure the system’s financial sustainability. Increasing childcare affordability and availability would remove some constraints on women's full participation in the economy.

Source: OECD - Economic Forecast

IMF Statistics:

Subject descriptor20142015201620172018
Gross domestic product, constant prices
Percent change
1.8930.8160.9851.3281.500
Gross domestic product, current prices
U.S. dollars (Billions)
701.223664.005662.483684.386702.235
Gross domestic product per capita, current prices
U.S. dollars (Units)
86,145.33480,602.69379,577.56481,314.13182,527.019
Inflation, average consumer prices
Percent change
-0.012-1.140-0.3780.0160.471
Volume of imports of goods and services
Percent change
-8.1362.4565.9404.3333.413
Volume of exports of goods and services
Percent change
-6.9063.2335.3333.8793.100
Unemployment rate
Percent of total labor force
3.0443.1783.4613.3893.319
Current account balance
U.S. dollars (Billions)
61.90475.82261.19961.29062.791
Current account balance
Percent of GDP
8.82811.4199.2388.9558.942
Colored cells are estimates

Source: IMF Statistics

 

Luxembourg and the country

Existing conventions and agreements

Non double taxation agreement 

In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.

  • Convention from 21.01.1993 (Memorial 1993, A no.101, p. 2125)
  • Effective as of 01.01.1994 (Memorial 1993, A no.101, p. 2125)
  • Protocol of Amendment from 25.08.2009 (Memorial 2010, a no.51, p.830)
  • Effective as of 01.01.2011 (Memorial 2010, a no.51, p.830)
  • Protocol of Amendment from 11.07.2012 (Memorial 2013, A, no.114, p.1696 )
  • Effective as of 01.01.2011 (Memorial 2013, A no.114, p.1696)

Air Services agreement

  • Agreement from 09.04.1951 (Memorial 1952, p. 1011)
  • Effective as of 02.27.1953 (Memorial 1953, p. 263)

Source: Administration des contributions directes

 

Further information

Foreign Trade

The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.

You can see the statistics on the website of the Statec.

Contact points in Switzerland

Embassy of the Grand Duchy of Luxembourg in Switzerland:

Jan DOLEZEL, Attaché

45, Kramgasse B.P.619
CH-3000 BERNE 8

Tel.: (+41) 31 311 47 32/ 31 311 68 76
Fax: (+41) 31 311 00 19
Emails: berne.amb(at)mae.etat.lu
Site Web: http://berne.mae.lu/

Attaché Economic and Commercial (AWEX)

Mr Philippe DELCOURT

56, Rue de Moillebeau
1209 Genève
SUISSE

T +41 22 788 48 60
F +41 22 788 87 37

Mail: geneve(at)awex-wallonia.com

Attaché Economic and Commercial (FIT):

Mr. Michel PATTEET

Gartenstrasse 36
CH - 8002 Zurich
Switzerland

Phone: +41 44 280 34 35
Fax: +41 44 280 34 39
E-mail: zurich(at)fitagency.com 

Consulate General:

Consul General with jurisdiction over the cantons of Geneva, Vaud and Valais :

Mr Pierre-Louis LORENZ

13, Chemin de la Rochette
CH-1202 Genève

Tél: +41 22 91 91 929
Fax: +41 22 91 91 920
Email : geneve.rp(at)mae.etat.lu

Honorary consuls:

Honorary Consul with jurisdiction over the cantons of Basel, Baselland and Solothurn:

Mr Michael PFEIFER

Aeschenvorstadt 4
BP 1564
CH-4010 Basel

Tel: +41 61 279 33 00
Fax: +41 61 279 33 10
Email: mpfeifer(at)vischer.com

Honorary Consul with jurisdiction over the cantons of Zurich, Glarus, Zoug, Schaffhausen, Appenzell, St.Gallen, Grisons, Aargau, Thurgau : 

Mr Kaspar WENGER 

Seehofstrasse 6
CH-8008 Zürich

Tel: +41 (0) 44 269 60 55
Fax: +41 (0) 44 269 60 65
Email: margrit.berchtold(at)chemolio.ch

Source: Ministry of Foreign Affairs Luxembourg

Country risk as defined by Office du Ducroire for Switzerland

Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.

Link: Ducroire Office - Country Risk for Switzerland

 

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