Switzerland's Industrialized Economy Switzerland’s has a developed industrialized economy, and has one of the highest standards of living. It is a major financial center of the world, and is known for it’s stable Swiss banks. Switzerland is known for it’s traditional secrecy regarding banking transactions. The Zurich Stock Exchange is one of the most important in Europe, and the country of Zurich is a major trade center for gold. Leading industries include precision engineering of things like clocks and watches, heavy engineering of generators and turbines, and specialize in food products like chocolate and cheese.