Report by the WTO Secretariat

Switzerland and Liechtenstein are among the wealthiest countries in the world, with GDP per capita of over US$50,000 each in 2006. Since their last TPR, their economies have grown on average by 2.7% per year for Switzerland and 2.2% for Liechtenstein, led by exports and private consumption. External trade (including access to foreign markets) is central to both economies; their ratios of external trade to GDP exceed 100%. The growth in both countries has been coupled with declining unemployment. Given their dependency on international trade, their economies remain sensitive to developments in the global economy.