Switzerland has a highly successful market economy based on international trade and banking. Its standards of living, worker productivity, quality of education, and health care are higher than any other European country.
Switzerland has a worldwide reputation for the high quality of its export manufactures, which include machinery, chemicals, watches, textiles, precision instruments, and diverse high-tech products. Centered in Basel, the chemical-pharmaceutical industry exports around the globe. Due to its central location in Europe and the stability of its politics and currency, Switzerland has become one of the world’s most important financial centers.