Economic benefits

The economic benefits of standardization are estimated to account for around 1% of gross domestic product (GDP).
 
This is the result of a joint study carried out by the German, Austrian and Swiss associations for standardization (DIN, ON and SNV respectively). So, standardization creates considerable value not only for companies but also for national economies. In the case of Switzerland, this value is in excess of CHF 4 billion, which is a tremendous amount of money generated by a number of positive implications of standardization such as:

• better access to international trade for Swiss companies
• shorter lead time for new products
• faster approval of Swiss products in other countries thanks to product conformity
• savings produced by self-declaration and avoidance of third-party inspection
• enhanced procurement processes owing to reference to standards in product definition and quality
• thus faster stock turnover, just-in-time production
• product safety for consumers
• health and safety for the public at large
• risk attenuation in businesses and in public life