Switzerland industry sectors are chiefly engaged in manufacturing imported raw materials into finished products for domestic consumption as well as exports. A majority of the Swiss industries are concentrated on the regions of Zürich, Aargau, Bern, Basel, Solothurn, St. Gallen, Vaud and Thurgau. Switzerland’s industry sectors (including construction) play a vital role in the nation’s economy, accounting for over 30% of its GDP. The growth rate of the sector was as high as 6.5% in 2006.
Switzerland Industry Sectors: Major Contributors
The Swiss industry sector is dominated by the machinery, electrical engineering and metals industry (MEM), contributing 19.3% of Switzerland’s GDP in 2007. The sector is also critical to the growth of the Swiss economy as it employs over 350,000 of the working population. Besides, Switzerland’s export volumes are among the largest in the world for almost all divisions of the MEM industry. About 80% of the industry’s output is exported, accounting for more than 40% of Switzerland's net visible exports. The output of Switzerland’s MEM industry includes machine tools, household goods construction plant and specialized microelectronic apparatus.
Other significant players in Switzerland’ds industry sector are:
Chemicals and Pharmaceuticals
The heart of Switzerland’s chemicals and pharmaceuticals industry is the city of Basel, while the largest companies are Novartis and Roche. Switzerland is one of the largest producers of pharmaceuticals and chemicals in the world. The industry, which focuses on perfume essences, dye-stuffs and food flavorings, exports almost 85% of its output. The industry invests highly in exports, accounting for almost half of the net private research in the entire Swiss industry sector.
The Swiss Watch Industry
Swiss watches are renowned across the world for styling and quality, and hence it comes across a no surprise that the industry exports about 95% of its production. While the Swiss have maintained supremacy in the global watch and clock market, it is currently facing stiff competition from Hong Kong and Japanese producers. The industry, nonetheless, continues to be a principal contributor to the nation’s total exports, having an impressive net earning of 17 billion francs in 2008.
The contribution by different Singapore industry sectors to the nation’s economy in 2008 is represented by the diagram below: