Chamber of Commerce Country Factsheet Last update: 10.01.2018
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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.
After a weak 2015, economic growth is projected to strengthen gradually as domestic demand receives support from negative interest rates and increasing real wages. With the currency stabilising over recent months and oil prices recovering, consumer prices should turn up during 2017. After a recent rise, unemployment will start to fall in 2017, but the outsized current account surplus will persist.
The budgetary situation is sufficiently sound to withstand a downturn or any foreseeable medium-term challenges. Monetary policy settings are appropriate, but continued vigilance on the housing market is required. The government needs to be careful in implementing immigration quotas to avoid damaging its relationship with the European Union.
While the level of labour productivity is high, its slow growth over the past decade should be actively addressed. Competition in the telecoms and energy sectors needs to be sharpened. Support to agriculture should be further curtailed, and more free-trade agreements should be concluded. Greater female market employment should be promoted to increase inclusiveness and ensure that womens’ skills are utilised fully.
Source: OECD - Economic Forecast
|Gross domestic product, constant prices|
|Gross domestic product, current prices|
U.S. dollars (Billions)
|Gross domestic product per capita, current prices|
U.S. dollars (Units)
|Inflation, average consumer prices|
|Volume of imports of goods and services|
|Volume of exports of goods and services|
Percent of total labor force
|Current account balance|
U.S. dollars (Billions)
|Current account balance|
Percent of GDP
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 21.1.1993 (Memorial 1993, A, p. 2124 )
- Effective as of February 19, 1994 (Memorial 1994, A, p. 168)
- Change Order from 25.08.2009
- Act from 31.3.2010 (Memorial 2010, A, no. 51, p. 830 )
- Effective as of 19.11.2010 (Memorial 2011, A, no. 38, pp.. 511 and 512)
Air Services agreement
- Agreement from 09.04.1951 (Memorial 1952, p. 1011)
- Effective as of 02.27.1953 (Memorial 1953, p. 263)
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:
Ambassador: Mr. Marc THILL
45, Kramgasse B.P.619
CH-3000 BERNE 8
Attaché Economic and Commercial (AWEX)
Rue François Bonivard 10
CH - 1201 Geneva
Phone: +41 22 788 48 60
Attaché Economic and Commercial (FIT): Mr. Michel PATTEET
CH - 8002 Zurich
Phone: +41 44 280 34 35
Fax: +41 44 280 34 39
Mr. Jean-Marc HOSCHEIT, Consul General with jurisdiction over the cantons of Geneva, Vaud and Valais
13, Chemin de la Rochette
Tél: +41 22 91 91 929
Fax: +41 22 91 91 920
Email : geneve.rp(at)mae.etat.lu
M. Michael PFEIFER,
Honorary Consul with jurisdiction over the cantons of Basel and Solothurn
Tel: +41 61 279 33 00
Fax: +41 61 279 33 10
M. Kaspar WENGER, Honorary Consul with jurisdiction over the cantons of Zurich, Glarus, Schaffhausen, Appenzell, St.Gallen, Grisons, Aargau, Thurgau.
Tel: +41 (0) 44 269 60 55
Fax: +41 (0) 44 269 60 65
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.
Other Useful Links:
The Chamber of Commerce and the country
- 16.11.2016 - 17.11.2016