US diplomatic representation: chief of mission: Ambassador M. Larry LAWRENCE embassy: Jubilaeumstrasse 93, 3005 Bern mailing address: use embassy street address telephone: [41] (31) 357 70 11 FAX: [41] (31) 357 73 44 branch office: Geneva consulate(s) general: Zurich
Flag: red square with a bold, equilateral white cross in the center that does not extend to the edges of the flag
@Switzerland:Economy
Overview: Switzerland's economy - one of the most prosperous and stable in the world - is nonetheless undergoing a stressful adjustment after both the inflationary boom of the late 1980s and the electorate's rejection of membership in the European Economic Area (EEA) in 1992. So far the decision to remain outside the European single market structure does not appear to have harmed Swiss interests. In December 1994, the Swiss began bilateral negotiations with the EU aimed at establishing closer ties in areas of mutual interest and progressing toward the free circulation of persons, goods, capital, and services between the two parties. The Swiss emerged from a three-year recession in mid-1993 and posted 1.8% GDP growth in 1994. The Swiss central bank's tight monetary policies brought inflation down from about 4% in 1992 to just under 1% in 1994. Unemployment has fallen slightly from 5.1% in 1993 to 4.7% in 1994. Swiss per capita output, living standards, education, and health care remain unsurpassed in Europe. The country has few mineral resources, but its spectacular natural beauty sustains a substantial tourism industry.
National product: GDP - purchasing power parity - $148.4 billion (1994 est.)
National product real growth rate: 1.8% (1994 est.)
National product per capita: $22,080 (1994 est.)
Inflation rate (consumer prices): 0.9% (1994 est.)
Unemployment rate: 4.7% (1994 est.)
Budget:
revenues: $26.7 billion
expenditures: $32 billion, including capital expenditures of $NA (1994
est.)