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Home , Economy of Switzerland

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PROFILE DID YOU KNOW? . Switzerland’s GDP per capita is one of the highest in Europe, making it an attractive Capital: Bern . Switzerland has a rotating, non-executive export market. presidency system where a president is drawn Population: 8.4 million (2016) annually from the small number of federal . Major Swiss companies operating in Alberta Languages: German, French, Italian, and ministers. include Nestle, ABB, and Union Banque Romansch. English is widely spoken. Suisse (UBS). . Since 1815, Switzerland has not been involved Government: Federal Republic in any military conflict. It has strong relations . In January 2008, Canada signed a free trade with neighboring countries and is a part of agreement with the four countries of the Head of State: Swiss Federal Council (collective head of state) many international organizations. European Free Trade Association (EFTA): Switzerland, , and Head of Government: President Doris Leuthard . The economy of Switzerland has an Economic . (since January 2017) Complexity Index (ECI) of 2.12, making it the second most complex country. TRADE AND INVESTMENT Currency: (CHF), CAD $1.00 = CHF 0.78, CHF 1.00 = CAD $1.28 . There are 208 mountains over 3,000m high in . Between 2012 and 2016, Alberta exports to (October 2017) Switzerland, of which 24 are over 4,000m. The Switzerland averaged CAD $89.6 million per year and were primarily made up of machinery GDP: USD $659.8 billion (2016) country also has over 1,500 lakes. (CAD $50.8 million), electrical machinery GDP (PPP): 526.5 billion current international . Gotthard Base Tunnel, the world’s longest rail (CAD $16.7 million), meat (CAD $14.9 million) dollars (2016) tunnel, opened in 2016 and goes through the and nickel (CAD $3.4 million). The export Alps. figures do not include trade in services (e.g. GDP Per Capita (PPP): 62,881 current , architecture and engineering, or international dollars (2016) RELATIONSHIP OVERVIEW information technology services). GDP Growth Rate: 1.29 per cent (2016) . Switzerland does not belong to the European . Over the same period, Alberta’s direct imports : -0.44 per cent (2016) Union. A proposal in 2002 to open talks was from Switzerland averaged CAD $109.4 million heavily defeated in a national referendum. per year. This mostly included chemical Unemployment: 4.63 per cent (2016) products (CAD $22.9 million), beverages (CAD . In September 2002, Switzerland became a $16.5 million), machinery (CAD $14.7 million) Key Industry Sectors: machinery, chemicals, member of the (UN), after a and medical, photographic and other , textiles, precision instruments, tourism, national referendum where 55 per cent of banking, and measuring instruments (CAD $14.0 million). Swiss voters favored joining the UN. This figure does not include goods sold in Sources: World , Bank of Canada . Switzerland is home to many international Alberta that arrived via distribution hubs in bodies, including the International Committee other provinces. of the Red Cross, the World Trade . Switzerland was the fifth largest investor in Organization (WTO), the International Olympic Canada with foreign direct investment Committee and various UN agencies. equaling CAD $55.20 billion in 2016.

November 2017 | Input provided by Alberta Ministries of: Advanced Education, Agriculture and Forestry, Culture and Tourism, Economic Development and Trade, Education, Energy and Labour.

. Canadian direct investment in Switzerland EMERGING OPPORTUNITIES participate through integration into the wind reached CAD $4.02 billion in 2016. turbine supply chain. . The combination of first-class research . In 2015, Switzerland exported USD $279 facilities and a highly educated workforce . Alberta water and wastewater companies will billion (CAD $345 billion), making it the 15th make Switzerland an attractive location for find demand in Europe for solutions that will largest exporter in the world. From 2010 to research, development and production in the solve challenges in agriculture and mining 2015, exports have grown at an annual rate of advanced industries sectors. operations. As well, water and wastewater 4.2 per cent. Top exports were gold (USD treatment solutions are in demand to address . Information and Communications $69.1 million), medicaments (USD $29.9 water shortages and upgrading to ageing Technology (ICT): Switzerland is expected to million), antisera and other blood fractions infrastructure. play a leading role in digital transformation. (USD $24.8 million) and art (USD $11.0 The country was ranked third in the 2017 million). . Smart grids and related technologies are being Digital Evolution Index after Norway and developed in Europe to improve energy . Between 2011 and 2015, Switzerland’s top . efficiency, reliability and the sustainability of export partners were (USD $52,237 electrical grids. There are plans to deploy . In 2015, there were 19,270 ICT companies in million), the (USD $32,450 upgrades to generation, transmission and Switzerland, making up 4.3 per cent of the million), the (USD $20,313 distribution systems. country’s GDP. million) and (USD $19,583 million). . Life Sciences: The Swiss life sciences . Google, IBM, Disney, Cisco Systems, SAP ENERGY industry has a strong international bias with 98 and Microsoft are among the many ICT per cent of its turnover made abroad. . Switzerland imports most of its energy companies that have a presence in resources, with its net oil imports being 60,400 Switzerland. . With a share of 40 per cent of export goods, barrels per day (bbl/d) in 2015, and a refining chemical-pharmaceutical products are the . The largest segment of the Swiss software capacity of 135,000 bbl/d. most important exported good in Switzerland. market is in application software products for . Natural gas consumption in Switzerland has small and medium sized enterprises. . Seventy-five per cent of medical technology steadily increased since 1980, reaching 3.281 goods manufactured in Switzerland are . On average, 23 per cent of the Swiss billion cubic meters in 2014. exported abroad. This contributed to CHF14.9 workforce holds a university degree. In the ICT billion (CAD $18.7 billion) in revenue in 2016. . Swiss energy policies aim to promote the use industry the proportion of university graduates of renewable resources and encourage is especially high at 43 per cent. . The SIX Swiss Exchange invests 40 per cent efficiency. of its traded capital in life sciences projects . Clean Technologies: The majority of energy across a variety of sectors including produced in Switzerland is renewable from . Switzerland aims to increase renewable biotechnology, nanotechnology, chemicals and hydropower and biomass. Opportunities exist electricity production by 5,400 GWh, or ten per pharmaceuticals. cent of 2007 electricity consumption, by 2030. for Alberta companies in materials for production and biofuels as well as technology . Advanced Manufacturing and Materials: . Swiss energy-related activities have focused development. Swiss industries provide opportunities for on the financial and investment aspects of Alberta technologies in instrumentation, . There has been a proposal to produce 600 resource development. Swiss financiers and SCADA, robotics, photonics, nanotechnology, GWh of electricity per annum using wind banking institutions, such as the sensors, test/scientific equipment, and turbines by 2030 in Switzerland. There are Group, are internationally active investors and coatings and other materials in a variety of opportunities for Alberta to compete in wind partners in Alberta-based energy companies. verticals. energy niche markets: small wind turbines, off . In September 2011, Switzerland formalized grid energy supply by integrated wind-diesel or plans to gradually phase-out nuclear energy wind-fuel cell systems, hydrogen storage of by 2034. wind power and cold climate operations. There is opportunity for Alberta companies to

AGRICULTURE AND FORESTRY EDUCATION . October 2010: The Alberta Minister of Municipal Affairs and Minister responsible for . In 2016, Alberta agri-food exports to . From 2012-16, 93 citizens of Switzerland had the Francophone Secretariat represented Switzerland totaled CAD $15.5 million. Main international study permits come into effect for Alberta as part of the Canadian delegation to exports included horse meat (CAD $10.3 Alberta. the 13th Summit of the International million) and beef (CAD $2.3 million). Organization of the Francophonie. . For the academic year of 2015/2016, 38 . Agri-food imports from Switzerland totaled citizens of Switzerland had international study . June 2010: Deputy Minister of Alberta CAD $18 million in the same year. This permits for Alberta. Advanced Education and Technology led a included beverages (CAD $15.1 million) and delegation to Switzerland to visit leading food materials (CAD $2.7 million). . The University of Calgary traditionally places centres of research and innovation. 20 - 25 engineering students per year in paid . Switzerland remains a country of interest for international internships in Switzerland, DIPLOMATIC REPRESENTATION investment attraction and retention in the agri- making it one of the largest destinations for food processing sector with Nestle (the world’s their students. . Switzerland’s Ambassador to Canada is His largest food company) located in Vevey, , Excellency Dr. Beat Nobs. Switzerland. . Since 2003, MacEwan University and Lucerne University of Applied Sciences and Arts have . Ms. Susan Bincoletto is the Canadian . Since the implementation of the Canada- had an active student exchange agreement. Ambassador to Switzerland and Liechtenstein. European Free Trade Association (EFTA) trade agreement (2009), several agriculture . Concordia University of Edmonton signed an . The Swiss Consul General in Vancouver is Mr. exports now enter Switzerland duty-free or MOU and an exchange agreement with Bern Pascal Bornoz. receive a reduced tariff rate. This allows University of Applied Sciences. Canadian exporters to compete equally with . Dr. Andreas Anton Bayer is the Honorary competitors from the EU. . Mount Royal University is partnered with Bern Consul for Switzerland in Calgary. University of Applied Sciences. . Forests in Switzerland are required to meet diverse expectations like recreation, tourism . Advanced Education supports the Campus and protection against avalanches. Long-term Alberta Grant for International Learning forest sustainability is at risk due to an (CAGFIL) program enabling post-secondary increasing age structure caused by high institutions to develop study and research demand for and consumption of wood in the collaboration involving Switzerland. eighteenth and nineteenth centuries. TOURISM

IMMIGRATION AND COMMUNITY . Alberta received about 28,000 overnight . Between 2012 and 2016, 124 citizens of visitors from Switzerland in 2015, accounting Switzerland became Permanent Residents of for about CAD $35 million tourism expenditure. Canada, with Alberta as their intended RECENT VISITS destination. Approximately 64 per cent were economic immigrants, including principal . November 2016: First official visit by the applicants, spouses, and dependents. Consul General of Switzerland in Vancouver, Pascal Bornoz. . From 2012-16, 81 citizens of Switzerland had

Temporary Foreign Worker Program (TFWP) . November 2015: First official visit by work permits come into effect for Alberta. Ambassador Beat Nobs to Alberta. . There are approximately 22,180 Albertans of Swiss descent. . May 2014: The Alberta Minister of Treasury Board and Finance met with financial officials . Carl Stettler, a prominent Swiss immigrant, and investors in Germany, Switzerland, the founded the Alberta towns of Stettler and and England. Blumenau in 1904. . January 2014: Premier Alison Redford . Swiss mountaineers played an important role attended the World Economic Forum in Davos, in developing Banff. Switzerland.

. The Edmonton Swiss Society hosts an annual . December 2011: Consul General Urs Strausak gathering in June in Stettler that brings made his first official visit to Alberta. together members of Alberta’s Swiss community for social and cultural celebrations. . December 2011: Minister of International and Intergovernmental Relations attended the in , Switzerland.

For more information, contact: Alberta Economic Development and Trade Phone: 780-427-6543 Fax: 780-427-0699 albertacanada.com international.alberta.ca