Switzerland, Economy

Switzerland has a highly developed industrialized economy and one of the highest standards of living in the world. Gross domestic product (GDP) in 2000 totaled $239.8 billion. Services constitute the dominant sector of the Swiss economy, with banking, insurance, tourism, government administration, and other services accounting for 69 percent of all employment. Industry, primarily manufacturing and construction, employs 26 percent. Switzerland’s domestic market is small, and most Swiss manufacturing is geared to the production of high-quality goods for export. Key exports include machinery and electronics; chemicals and pharmaceuticals; and watches, musical instruments, and jewelry. Agriculture, forestry, and fishing employ 5 percent of Swiss workers.