Advice for Swiss Abroad (de/fr/it)

Embassy of Switzerland
2900 Cathedral Ave. NW
Washington, DC 20008
 Google Map

Tel.: +1 (202) 745-7900
Fax: +1 (202) 387-2564

 Official Holidays 2010

Jurisdiction:
District of Columbia, Maryland, Virginia, West Virginia, Kentucky, Delaware and U.S. territories without Swiss representation.

Urs Ziswiler © DFA

Like most countries, Switzerland has not been untouched by the recent financial crisis that has befallen the U.S. and our global economy. Fortunately, however, the economic downturn has not been as profound in Switzerland, as it has been in the U.S. Although Gross Domestic Product decreased, it did so at a rate only half of what was experienced in the States. Similarly, our unemployment rate, while slightly higher than normal at 4.4 percent is still less than half of what is seen here in the U.S. Downturn in construction has also been very modest, in no way comparable to the heavily felt impact here in the United States.

As a small, open economy, Switzerland depends on the free trade of goods, services, and capital between countries. It is no surprise, thus, that our foreign trade policy looks to our relationships with other countries—both bilaterally and through multilateral organizations—as the solution to this economic crisis. Details of this policy are outlined in the  Foreign Economic Policy Report published recently by our Federal Council. This approach to the financial crisis was called appropriate and well thought out by the IMF.

Switzerland will continue to work closely with the global community to build the strength of an economy that is more and more connected in this age of globalization.