Switzerland has a stable, prosperous and high-tech economy. In 2011, it was ranked as being the wealthiest country in the world in per capita terms (with 'wealth' being defined to include both financial and non-financial assets). It has the world's nineteenth largest economy by nominal GDP and the thirty-sixth largest by purchasing power parity. It is the twentieth largest exporter and eighteenth largest importer of goods. Switzerland has the highest European rating in the Index of Economic Freedom 2010, while also providing large coverage through public services. The nominal per capita GDP is higher than those of the larger Western and Central European economies and Japan. If adjusted for purchasing power parity, Switzerland ranks 8th in the world in terms of GDP per capita, according to the World Bank and IMF (ranked 15th according to the CIA Worldfactbook).
The World Economic Forum's Global Competitiveness Report currently ranks Switzerland's economy as the most competitive in the world, while ranked by the European Union as Europe's most innovative country. For much of the 20th century, Switzerland was the wealthiest country in Europe by a considerable margin (by GDP – per capita). In 2005 the median household income in Switzerland was an estimated 95,000 CHF, the equivalent of roughly 100,000 USD (as of December 2010) in nominal terms. Switzerland also has one of the world's largest account balances as a percentage of GDP.
Switzerland is home to several large multinational corporations. The largest Swiss companies by revenue are Vitol, Glencore, Gunvor, Trafigura, Nestlé, Novartis, Hoffmann-La Roche, ABB, Mercuria Energy Group and Adecco. Also notable are UBS AG, Zurich Financial Services, Credit Suisse, Barry Callebaut, Swiss Re, Tetra Pak and The Swatch Group. Switzerland is ranked as having one of the most powerful economies in the world.
Switzerland's most important economic sector is manufacturing. Manufacturing consists largely of
