Switzerland has an overwhelmingly private

Switzerland has an overwhelmingly private sector economy and low tax rates by the Western World standards; overall taxation is one of the smallest of developed countries. Switzerland is an easy place to do business; Switzerland ranks 21st of 178 countries in the Ease of Doing Business Index. The slow growth Switzerland experienced in the 1990s and the early 2000s has brought greater support for economic reforms and harmonisation with the European Union.[83][84] According to Credit Suisse, only about 37% of residents own their own homes, one of the lowest rates of home ownership in Europe. Housing and food price levels were 171% and 145% of the EU-25 index in 2007, compared to 113% and 104% in Germany.[81]
Agricultural protectionism—a rare exception to Switzerland's free trade policies—has contributed to high food prices. Product market liberalisation is lagging behind many EU countries according to the OECD.[83] Nevertheless, domestic purchasing power is one of the best in the world.[85][86][87] Apart from agriculture, economic and trade barriers between the European Union and Switzerland are minimal and Switzerland has free trade agreements worldwide. Switzerland is a member of the European Free Trade Association (EFTA).


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