Switzerland is one of the countries that was less affected by the 2008 financial crisis and recovered faster, mainly due to the stable economic policies implemented by the Swiss federal government for a long time. In 2010, the Swiss economy grew by 2.6% and in 2011 by 1.9%. According to Swiss customs statistics, Switzerland’s total foreign trade volume in 2011 was 371.91 billion Swiss francs, an increase of 1.2%. Among them, the export value was 197.8 billion Swiss francs, an increase of 2.2%, and the import value was 174.11 billion Swiss francs, an increase of 0.1%. The trade surplus was 23.69 billion Swiss francs, a record high, an increase of 20% over the previous year.
In 2011, the proportions of primary, secondary and tertiary industries in Switzerland were 1.2%, 21% and 77.8% respectively.
According to data from the Swiss Federal Statistics Office, Swiss retail sales in February 2012 increased by 0.8% year-on-year, and decreased by 1.3% month-on-month after seasonally adjustment. Among them, fuel sales increased by 0.4% in nominal terms and decreased by 2.8% in real terms; sales of food, beverages and tobacco increased by 0.3% in nominal terms and decreased by 1.3% in real terms; sales of non-food items decreased by 0.5% in nominal terms and decreased by 3.9% in real terms. Compared with January 2012, retail sales decreased by 2.4% month-on-month.
Advantages of attracting investment
The Swiss investment environment is highly attractive, and its advantage lies in its strategic location. This is a paradise of free economy and a place where advanced European technology converges. Switzerland is also one of the countries with the highest per capita income in the world. Based on high-efficiency economic operation, people’s purchasing power is very strong. Switzerland’s business environment is conducive to companies establishing headquarters and conducting research and production activities in Switzerland.
Switzerland is one of Europe’s most important business partners and has signed many bilateral cooperation agreements. Switzerland is the EU’s third largest supplier of products and services and the second largest investor. The EU is Switzerland’s largest trading partner. The trade freedom and regulations guaranteed by the Swiss Constitution create conditions for long-term business activities in Switzerland. In addition, Switzerland’s low taxes are a major advantage in attracting foreign investment. Human resources are also one of Switzerland’s most important success factors. The high level of education and training of the workforce here is a key factor in maintaining the competitiveness of a country with few natural resources like Switzerland.
The World Economic Forum’s “Global Competitiveness Report 2011~2012” shows that Switzerland ranks first among the 142 most competitive countries and regions in the world.
Industry and Trade
Mechatronics is Switzerland’s largest industrial sector. Currently, Swiss machinery exports account for 3% of the world’s total. In addition, Switzerland is one of the world’s largest watch producers, accounting for half of the world’s gross product. According to statistics from the Swiss Export Promotion Organization, 95% of watches produced in Switzerland are exported.
Switzerland’s main trading partner is the European Union, accounting for 57% and 80% of its export and import market shares respectively. Calculated by a single economy, the largest trading partners are Germany, Italy, France, the United States, China, the United Kingdom, Austria, the Netherlands, Japan, etc.
In 2011, Switzerland’s main imported commodities were mechanical and electrical products, chemical and pharmaceutical products, energy, building materials, food, metals and jewelry. The main export commodities are pharmaceutical and chemical products, mechanical and electrical products, precision instruments, watches and components, precious metals, jewelry and clothing, etc.
In 2011, Switzerland imported 8.88 billion Swiss francs of textiles, clothing, and footwear products, a year-on-year increase of 15.79%, accounting for 5.1% of total imports; during the same period, Switzerland exported 3.24 billion Swiss francs of such products, a year-on-year decrease of 4.2%. Accounting for 1.6% of total exports.
Production and demand
In 2011, Swiss household consumer spending on clothing and footwear products accounted for 4.2% of total consumer spending.
Currently, Switzerland is China’s ninth largest trading partner in Europe. In 2010, the trade volume between China and Switzerland was US$20.07 billion, an increase of 110.3%. In 2011, the trade volume between China and Switzerland was US$30.91 billion, an increase of 54%. Among them, China’s exports were US$3.7 billion, an increase of 22.1%; China’s imports were US$27.21 billion, an increase of 59.7%.
China’s main exports to Switzerland are: clothing accessories, footwear, automatic data processing equipment and their components; China’s main imports from Switzerland are: watches, pharmaceuticals, measurement, testing, analysis, automatic control instruments and appliances, and metals Processing machine tools.
According to Swiss customs statistics, the trade volume between Switzerland and China in 2011 was 14.72 billion Swiss francs, an increase of 12%. Among them, Switzerland exported 8.44 billion Swiss francs to China, an increase of 19.2%; Switzerland imported 6.28 billion Swiss francs from China, an increase of 3.5%. China surpassed Japan in 2010 and became Switzerland’s largest trading partner in Asia. In 2011, China once again became Switzerland’s fifth largest export market and seventh largest source of imports in the world.
In 2011, Switzerland imported 946.7 million Swiss francs of textiles, clothing and footwear products from China, an increase of 4.9% year-on-year; its exports to China were 156.7 million Swiss francs, an increase of 2%.
