mailing address: use embassy street address
telephone: [41] (031) 357 70 11
FAX: [41] (031) 357 73 44
Flag description:
red square with a bold, equilateral white cross in the center that does not extend to the edges of the flag; various medieval legends purport to describe the origin of the flag; a white cross used as identification for troops of the Swiss Confederation is first attested at the Battle of Laupen (1339)
Economy ::Switzerland
Economy - overview:
Switzerland is a peaceful, prosperous, and stable modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector led by financial services and a manufacturing industry that specializes in high-technology, knowledge-based production. The Swiss in recent years have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. 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. The global financial crisis and resulting economic downturn could, however, put Switzerland in a recession in 2009, particularly as global export demand stalls. Switzerland's largest banks suffered significant losses in 2008 and the country's largest bank accepted a government rescue deal in late 2008. The Swiss National Bank, beginning in October 2008, cut interest rates on several consecutive occasions, effectively instituting a zero-rate policy in a bid to boost the economy.
GDP (purchasing power parity):
$318.1 billion (2008 est.) country comparison to the world: 39 $312.4 billion (2007 est.)