the production of specialist chemicals, health and pharmaceutical goods, scientific and precision measuring instruments and musical instruments. The largest exported goods are chemicals (34% of exported goods), machines/electronics (20.9%), and precision instruments/watches (16.9%). Exported services amount to a third of exported goods. The services sector – especially banking and insurance, tourism, and international organisations – is another important industry for Switzerland.
Around 3.8 million people work in Switzerland. Switzerland has a more flexible job market than neighbouring countries and the unemployment rate is very low. Unemployment rate increased from a low of 1.7% in June 2000 to a peak of 4.4%, as of December 2009. Population growth from net immigration is quite high, at 0.52% of population in 2004. Foreign citizen population is 21.8% as of 2004, about the same as in Australia. GDP per hour worked is the world's 17th highest, at 27.44 international dollars in 2006.
Switzerland has an overwhelmingly private sector economy and low tax rates by Western World standards; overall taxation is one of the smallest of developed countries. Switzerland is an easy place to do business; Switzerland currently ranks 27th 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. 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.
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. Nevertheless, domestic purchasing power is one of the
