Switzerland is one of the most competitive economies on the planet, thanks to its service sector, with strong added value, its specialized industry, and a motivated and highly qualified workforce of 4.9 million people in a total population of 8.5 million. Agriculture contributes 0.64% of GDP and employs 3.5% of the active population. The main agricultural products are cattle and dairy products, although there are also more than 9 thousand wine cellars.
Switzerland is a diverse and mature economy with opportunities in all sectors. Business links between Switzerland and the UK are extremely strong with more than 80 flights per day linking the UK with Switzerland.
According to Lawyers Switzerland, Switzerland mainly imports metals, machinery and chemicals. The most imported good in Switzerland is gold that represents 21% of the country’s total imports. The second place is occupied by medicines with almost 6% and cars and car parts with almost 5%. Refined petroleum and jewels are also imported in Switzerland but in smaller quantities that reaches almost 4%.
Among other goods imported by Switzerland we can find computers, chemical products, agricultural products and textiles. Swiss imports are based on German products with a 24%, Italian goods with 11% and U.S. goods that supply almost 10%. France supplies almost 7% of the country’s imports, while countries like China and Austria provide almost 4% of Swiss imports. In smaller percentages Switzerland imports from Austria, The United Kingdom, The Netherlands, Ireland, Japan and Russia.
According to The Department for International Trade, the Strengths of the Swiss market include:
- central location in Europe
- political and financial stability
- excellent public infrastructure
- highly educated workforce
- high productivity
- innovative country with high spend on research and development (R&D) and technology
- purchasing power amongst the world’s highest
- reliable business, legal and regulatory environment
- low Value Added Tax (VAT) compared to many European Union (EU) countries.
Opportunities in Switzerland’s food and drink sector include:
- ‘free from’ foods / healthier alternatives to existing product lines (no artificial colors and low sugar)
- ethnic food
- premium cuts of lamb and beef
- alcoholic and innovative non-alcoholic beverages
Switzerland is one of the many countries where Infinitus can offer you its experience. We can help position your products in the Swiss market, just contact us and we will start the development of your market entry strategy.