Editing Economy of Switzerland (section)

=== Commodities trading ===
{{seealso|Crime in Switzerland#Sanctioned countries}}
Switzerland is a major hub for [[commodities trading]], globally. Commodities trading represents 4% of Swiss GDP (2022).<ref name=Swiss1>{{cite web | url=https://www.swissinfo.ch/eng/-it-has-become-very-difficult-to-finance-trading-with-russia-/47633862 | title='It has become very difficult to finance trading with Russia' | date=June 2022 }}</ref> The range of products traded either physically or [[Financial trading|financially]] include agriculture, minerals, metals and oil/energy.<ref>{{Cite web|url=https://www.swissinfo.ch/eng/commodity-trading-in-switzerland--explained/46748874|title=Commodity trading in Switzerland, explained|date=5 July 2021 }}</ref> Some 40% of all oil shipments are traded through Switzerland, along with 60% of metals and grains (2022).<ref>{{cite web | url=https://www.swissinfo.ch/eng/sberbank-s-swiss-operations-remain-open-despite-european-pullout/47398490 | title=Sberbank says Swiss operations unaffected by sanctions | date=3 March 2022 }}</ref>

10,000 persons work in the commodity trade business in Switzerland (& 35,000 indirectly).<ref name="exp">{{Cite web |url=https://www.france24.com/en/live-news/20220305-neutral-switzerland-s-economy-shaken-by-sanctions-on-russia |title=Neutral Switzerland's economy shaken by sanctions on Russia |date=2022-03-05 |access-date=2022-03-07 |website=France24}}</ref> Mostly around [[Lake Geneva]], [[Zug]] and [[Lugano]].<ref name=":0">{{cite web | url=https://www.swissinfo.ch/eng/business/swiss-trading-hub-adapts-to-new-wartime-reality/47395138 | title=Swiss trading hub adapts to new wartime reality | date=2 March 2022 }}</ref><ref name=Swiss1/>

Corporate loans and revolving credit facilities granted to the five main Swiss energy trading houses ([[Glencore]], [[Mercuria]], [[Gunvor]], [[Vitol]] and [[Trafigura]]) between 2013 and 2019 exceeded $360 billion.

Switzerland is also a major hub for [[gold trading]] with some of the largest refiners including [[Valcambi]], [[PAMP (company)|PAMP]]/[[MKS (Switzerland)|MKS]], [[Heraeus|Argor-Heraeus]] and [[Métaux Précieux SA Métalor|Metalor]].<ref>{{cite web | url=https://www.swissinfo.ch/eng/business/precious-goods_switzerland--the-world-s-gold-hub/33706126 | title=Switzerland: The world's gold hub | date=12 October 2012 }}</ref><ref>{{cite web | url=https://www.swissinfo.ch/eng/business/international-trade_counting-gold-in-switzerland/41417986 | title=Counting gold in Switzerland | date=8 May 2015 }}</ref><ref>{{cite web | url=https://www.swissinfo.ch/eng/-swiss-gold-imports-come-under-scrutiny-as-g7-targets-russia/47707048 | title=Swiss gold imports come under scrutiny as G7 targets Russia | date=27 June 2022 }}</ref>

Agricultural commodities trading is dominated by [[ADM (company)|ADM]], [[Bunge Limited|Bunge]], [[Cargill]], [[COFCO Group|Cofco]] and [[Louis Dreyfus Company|Louis Dreyfus]]. Shipping firm [[Mediterranean Shipping Company|MSC]], logistics company [[Kuehne + Nagel|Kühne + Nagel and Danzas]] and [[quality control]] firm [[SGS S.A.]] are also major players in this sector.<ref name=":0" /><ref>{{cite web | url=https://www.swissinfo.ch/eng/business/switzerland-must-regulate-its-opaque-shipping-industry/47483160 | title=Switzerland must regulate its opaque shipping industry | date=5 April 2022 }}</ref><ref>{{cite web | url=https://www.swissinfo.ch/eng/business/-it-has-become-very-difficult-to-finance-trading-with-russia-/47633862 | title='It has become very difficult to finance trading with Russia' | date=June 2022 }}</ref><ref name="SWI swissinfo.ch 2023 g775">{{cite web | title=Russia-Iran: how the wheat trade is flourishing despite sanctions | website=SWI swissinfo.ch | date=2023-07-13 | url=https://www.swissinfo.ch/eng/business/russia-and-iran-under-sanctions---daily-bread-from-a-fellow-pariah/48653614 | access-date=2023-07-16}}</ref>

This situation has enabled some types of organization in commodities trading to [[Corruption in Switzerland#Business|be involved in corruption]] and [[Exploitation colonialism|exploitation]] and operate with little or no transparency or oversight.<ref>{{Cite news|url=https://www.reuters.com/article/us-glencore-probe/glencore-probed-by-u-s-cftc-for-corrupt-practices-idUSKCN1S12CR|title = Glencore probed by U.S. CFTC for 'corrupt practices'|newspaper = Reuters|date = 25 April 2019}}</ref><ref>{{Cite web|url=https://www.swissinfo.ch/eng/commodities-cleanup_trafigura-ends-use-of-middlemen-after-corruption-probes/45096874|title = Trafigura ends use of middlemen after corruption probes| date=15 July 2019 }}</ref><ref>{{Cite web|url=https://www.swissinfo.ch/eng/business/trafigura-paid--390m-in-share-deal-with-angola-s--general-dino-/46984516|title=Trafigura paid $390m in share deal with Angola's 'General Dino'|date=28 September 2021 }}</ref><ref>{{Cite news|url=https://www.letemps.ch/opinions/ne-suffit-plus-faire-profit-justifier-existence|title=Il ne suffit plus de faire du profit pour justifier son existence|newspaper=Le Temps|date=7 October 2021}}</ref>