Natural resources
Switzerland: limited mineral resources. No coal, small amount of iron and manganese deposits. Building stones (granite, limestone), timber, salt are only appropriate for commercial usage. Waterpower – main natural resource (hundres of glaciers). 11% of land – agricultural usage, 30% - covered by forest.
Barbados: gas, petroleum, fish.
Similarities: Both of countries don’t possess a lot of natural resources. The countries’ sizes are small (Barbados is much smaller). Both of countries have recreational resources and attractive for tourists.
Differences: Mainly mountainous landscape in Switzerland, more plains in Barbados.
Population
Switzerland: population – 8 066 224, 3 966 991 males (49.2%), 4 099 233 females (50.8%), 8976 births (2016), 8213 deaths (2016), 1215 net migration (2016), 1978 population growth
15.2% - age under 15
67.8% - 15-64 ages
17% - age over 65
Average life expectancy – 81.1 years
Barbados: 287 512, 142 669 males, 144 843 females, 412 births (2016), 280 deaths (2016), -10 net migration (2016), 122 population growth
18.9% - age under 15
71.3% - 15-64 ages
9.8% - age over 65
Average life expectancy – 74.3 years
The population of Barbados is much smaller than Switzerland population. People migrate to Switzerland, while Barbados citizens are leaving their country. Life expectancy is higher in Barbados. More young people in Barbados, more aged people in Switzerland. Population increase in Barbados is due to high birth to death rate, in Switzerland due to immigration.
Import/export
Switzerland: 16th largest export economy in the world, 2nd most complex economy, the top exports are gold, medicaments, human or animal blood, metal watches. Top imports are gold, medicaments, cars, jewellery, refined petroleum. Top export destinations: Hong Kong, Germany, the US, India, France. Top import origins: Germany, the US, Italy, France, China.
Barbados: 169th largest export economy in the world. Top exports: refined petroleum, hard liquor, medicaments, passenger and cargo ships, cement. Top imports: refined petroleum, medicaments, cars, crude petroleum, computers. Top export destinations: the US, Areas, Jamaica, Trinidad and Tobago, Guyana. Top import origins: the US, Trinidad and Tobago, Russia, Suriname and Canada.
Switzerland exports more than Barbados. Both countries export medicaments and import refined petroleum and cars extensively. Both of them have trade relations with the United States and their neighborhood countries.
Majot employers/industries
Switzerland: top 10 swiss employers are Google, Patek Philippe (watch maker), Swatch (watch maker), Victorinox (knife manufacturer), Aeroport de Zurich, Rolex (watch manufacturer), Nestle (food company), Swiss (flights), Swissport International, Stadler Rail.
Main industries: watches (world leader of explorts), swiss companies present (but not very famous) in industrial sector (food processing – Nestle, chemical for industrial and construction – Sika AG, pharmaceutical – Novartis, Roche). Switzerland is expremely protective of its agricultural industry, high developed tourism infrastructure, banking.
Barbados: tourism plays a key role in the economy (13% of the employed labor force), manufacturing includes food and beverages, electronics, hardwood furniture, garments, chemicals (7% of the employed labor force), agriculture (government support).
In both countries government supports agricultural sector. Tourism is a main industrial sector in Barbados, while Switzerland specializes in watches, banking and industrial. Both of countries produce chemicals.
Wages
Switzerland: 15,457 USD per year minimum wage
Barbados: minimum wage 3.13 USD per hour, 25.04 USD for 8-hour day, 125.02 USD for 40-hour workweek, 6000 USD per year
Switzerland is in the list of countries with the highest wages, Barbados is in the list of countries with the lowest wages.
General economic characteristic
Switzerland is a modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world
Barbados is the richest and most developed country in Eastern Caribbean.
