Nation at a Glance - Switzerland

History

The Swiss Confederation was founded in 1291 as a defensive alliance among three cantons. In succeeding years, other localities joined the original three. The Swiss Confederation secured its independence from the Holy Roman Empire in 1499. A constitution of 1848, subsequently modified in 1874, replaced the confederation with a centralized federal government. Switzerland's sovereignty and neutrality have long been honored by the major European powers, and the country was not involved in either of the two world wars. The political and economic integration of Europe over the past half century, as well as Switzerland's role in many UN and international organizations, has strengthened Switzerland's ties with its neighbors. However, the country did not officially become a UN member until 2002. Switzerland remains active in many UN and international organizations but retains a strong commitment to neutrality.

Location: Central Europe, east of France, north of Italy

Border Countries: Austria 158 km, France 525 km, Italy 698 km, Liechtenstein 41 km, Germany 348 km

Total Area: 41,277 sq km Land: 39,997 sq km Water: 1,280 sq km

Climate: Temperate, but varies with altitude; cold, cloudy, rainy/snowy winters; cool to warm, cloudy, humid summers with occasional showers

Terrain: Mostly mountains (Alps in south, Jura in northwest) with a central plateau of rolling hills, plains, and large lakes

Natural resources: Hydropower potential, timber, salt

Land use: Agricultural land: 38.7% arable land 10.2%; permanent crops 0.6%; permanent pasture 27.9% Forest: 31.5% Other: 29.8% (2011 est.)

Ethnic groups: German 65%, French 18%, Italian 10%, Romansch 1%, Other 6%

Languages: German (official) 63.5%, French (official) 22.5%, Italian (official) 8.1%, English 4.4%, Portuguese 3.4%, Albanian 3.1%, Serbo-Croatian 2.5%, Spanish 2.2%, Romansch (official) 0.5%, Other 6.6%

Religions: Roman Catholic 38.2%, Protestant 26.9%, other Christian 5.6%, Muslim 5%, Other 1.6%, None 21.4%, Unspecified 1.3% (2013 est.)

Population: 8,179,294 (July 2016 est.)

Administrative divisions: 26 cantons (cantons, singular - canton in French; cantoni, singular - cantone in Italian; Kantone, singular - Kanton in German); Aargau, Appenzell Ausserrhoden, Appenzell Innerrhoden, Basel-Landschaft, Basel-Stadt, Berne/Bern, Fribourg/Freiburg, Geneve, Glarus, Graubuenden/Grigioni/Grischun, Jura, Luzern, Neuchatel, Nidwalden, Obwalden, Sankt Gallen, Schaffhausen, Schwyz, Solothurn, Thurgau, Ticino, Uri, Valais/Wallis, Vaud, Zug, Zuerich

Economy: Switzerland, a country that espouses neutrality, is a prosperous and 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. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010. The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with economic instability in Russia and other eastern European economies drove up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. The independent SNB has upheld its zero interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year from 2011 through 2017. In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards.

Agriculture - products: Grains, fruits, vegetables; meat, eggs

Industries: Machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance

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