Switzerland - Current Account Balance

For Switzerland, the detailed quarterly balance of payments, international investment position, and external debt.

The source writes:

The topic "international economic affairs" covers information on Switzerland’s foreign trade, balance of payments and international investment position, on direct investment, the operational activities of multinational enterprises, as well as on a number of international indicators.

Contents:

1. Exports and imports of goods
2. Exports and imports of services
3. Receipts and payments of income (from which data for the prescribed component of net income receipts can be derived)
4. Receipts and payments of current transfers (from which data for the prescribed component of net current transfers can be derived)
5. Financial transactions
6. Reserve assets

Active:

• Framework: IMF BPM6
• Measurement: Millions of Swiss francs (Mil. CHF)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequencies:
  • Quarterly
  • Annual
• Start dates:
  • External debt: Most at 1999Q4
  • International investment position: Most at 1985Q1
  • Balance of payments: Between 1983Q1 and 2012Q1Q1
  • BOP current account balance (extended): 1972Q1

Predecessor:

• BPM5 - 1972 to 2013 ("_B5")

The source writes:

Definitions

Direct investment

The objective of direct investment is to exert a direct and lasting influence on the operations of a company abroad. As a rule, a direct investment relationship is deemed to exist if an investor (direct investor) owns at least 10% of the voting stock of a company (direct investment company) abroad or sets up a subsidiary or branch abroad. As soon as a direct investment relationship has been established, all cross-border intragroup financial linkages generally qualify as direct investment.

Portfolio investment

Cross-border transactions in connection with the purchase and sale of equity and debt securities which are not covered by direct investment or reserve assets. Unlike direct investment, the emphasis is on income rather than the influence on the business activities of a company.

Other investment

All financial investment which is not included under direct investment, portfolio investment, derivatives or reserve assets.

Reserve assets

Central bank assets denominated in foreign currencies or gold. Reserve assets within the financial account comprise transactions in these assets.

Other sectors - total includes direct investment loans.

Short-term money market instruments of Banks are also included in money market instruments of the other sectors

Long term bonds and notes of Banks are also included in bonds of the other sectors.

Change in method

Before 2021, series had a framework break from BPM5 to BPM6. In late 2021, the source imposed BPM6 consistently, which back-extended some quarterly and annual series.

Moody's Analytics supplements

For the current account balance, we back-extend (1972Q1 to 1999Q4) using the BPM5 predecessor.

Annual data may lag quarterly data.

Reported figures are rounded so components may not sum precisely.

Further reading

At the source:

• Publication set: Swiss balance of payments and international investment position
• Changes and revisions - International economic affairs

At IMF (SDDS Plus):

• Balance of payments

At IMF:

• Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6)

• 28 Dec 2022, Phillip Thorne - Further reading