Switzerland is a federal state, and its state power is shared among the federal government, the 26 cantons, and approximately 2,200 municipalities. Bern, the country’s capital city, has been the seat of the federal authorities. With a resident population of approximately 8.6 million, Switzerland is divided into four regions based on national languages of German, French, Italian and Romansh. Apart from those, English is also spoken in the country.

Switzerland has one of the most competitive economies in the world.

Even though Switzerland is geographically located in the heart of Europe, it is not a member of the European Union (EU). However, Switzerland is one of the major partners of the EU. Its relations with the EU are conducted on the basis of bilateral sectoral agreements. These agreements ensure the free movement of goods, services and people. Switzerland is one of the four countries of the European Free Trade Association (EFTA), along with Iceland, Liechtenstein and Norway. Furthermore, it is a member of an array of international organizations.

Switzerland is one of the 20 largest economies in the world in terms of gross domestic product (GDP). From 2010 to 2019, the yearly GDP growth rate ranged from 1.1% to 3.3%. The country offers its people a very high standard of living with a GDP per capita of more than USD $80,000.

In Switzerland, the most important business sectors are services (73.7%, including the financial sector), industry (25.6%) and agriculture (0.7%). With its long-standing top position in the Global Innovation Index, Switzerland has the highest number of patents per person in the world.

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