Switzerland is a peaceful, prosperous, and stable modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP larger than that of the big Western European economies. The Swiss in recent years have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness. Switzerland remains a safehaven for investors, because it has maintained a degree of bank secrecy and has kept up the franc's long-term external value. Reflecting the anemic economic conditions of Europe, GDP growth stagnated during the 2001-03 period, improved during 2004-05, and jumped to 2.9% in 2006, and 2.6% in 2007. Unemployment has remained at less than half the EU average.
GDP (purchasing power parity):
$303.2 billion (2007 est.)
GDP (official exchange rate):
$423.9 billion (2007 est.)
GDP - real growth rate:
3.1% (2007 est.)
GDP - per capita (PPP):
$40,100 (2007 est.)
GDP - composition by sector: