innovation

The Swiss economy focuses on high tech, quality work and skilled workers and strongly depends on foreign trade.

Switzerland is the third largest supplier and second largest customer of the EU: 62% of Swiss exports go to the EU and 79% of imports originate from the EU. The most important exported goods are chemicals, machinery and electronics, as well as tools and watches. Leading companies in engineering, machinery, pharmaceuticals, biotechnology, medical technology, and computer sciences have headquarters in Switzerland.

As representatives of the high-tech sector, the engineering, electrical and metal industries are the largest industrial employers, with approximately 318,000 employees. They contribute just under 40% of the goods exported from Switzerland, valued at CHF 70 billion (2007, Swissmem). Over 500 medical technology companies employ a workforce of 40,000 people (Eucomed). They also invest almost CHF 525 million annually in R&D and export goods worth nearly CHF 5.25 billion per year (Eucomed). Switzerland is a first-class location for life sciences companies and is home to one of the world’s leading biotechnology clusters, with 148 biotech companies and 72 suppliers. In 2007, the Swiss biotech industry generated a turnover of more than CHF 7 billion and had a workforce of over 14,700 people.

Switzerland’s innovation performance is among the best in the world. It is the home of strong research-intensive institutions both in the business and the public research sector. However, growth of GDP and productivity has been relatively slow for some time. A number of other countries have been able to develop their innovative capabilities more dynamically. Further raising the level of innovation is of key importance for boosting Switzerland’s economic growth and maintaining high living standards in an increasingly globalised world.

Source: SER. OECD

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