Switzerland - Economic Indicators
Global Outlook: An Uncertain Path
Oct 08, 2019
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| GDP | Reference | Last | Previous | Units | Frequency |
|---|---|---|---|---|---|
| Private Consumption | 2019 Q2 | 92,924 | 92,492 | Mil. CHF, CDASA | Quarterly |
| Government Consumption | 2019 Q2 | 20,704 | 20,626 | Mil. CHF, CDASA | Quarterly |
| Real Government Consumption | 2019 Q2 | 19,989 | 19,965 | Mil. Ch. 2010 CHF, CDASA | Quarterly |
| Nominal Gross Domestic Product | 2019 Q2 | 174,564 | 173,892 | Mil. CHF, CDASA | Quarterly |
| Nominal Fixed Investment (gross fixed capital formation) | 2019 Q2 | 41,671 | 41,921 | Mil. CHF, CDASA | Quarterly |
| Real Gross Domestic Product | 2019 Q2 | 177,199 | 176,694 | Mil. Ch. 2010 CHF, CDASA | Quarterly |
| Real Private Consumption | 2019 Q2 | 93,515 | 93,202 | Mil. Ch. 2010 CHF, CDASA | Quarterly |
| Investment | 2019 Q2 | 40,210 | 37,422 | Mil. CHF, CDASA | Quarterly |
| Real Investment | 2019 Q2 | 37,126 | 34,696 | Mil. Ch. 2010 CHF, CDASA | Quarterly |
| Real Fixed Investment (gross fixed capital formation) | 2019 Q2 | 42,517 | 42,796 | Mil. Ch. 2010 CHF, CDASA | Quarterly |
| Price | Reference | Last | Previous | Units | Frequency |
| Consumer Price Index (CPI) | Sep 2019 | 102.02 | 102.13 | Index Dec2015=100, NSA | Monthly |
| Producer Price Index (PPI) | Sep 2019 | 101.11 | 101.42 | Dec 2015=100, NSA | Monthly |
| Labor | Reference | Last | Previous | Units | Frequency |
| Unemployment Rate | Sep 2019 | 2.1 | 2.1 | Percent, NSA | Monthly |
| Unemployment | Sep 2019 | 99,098 | 99,552 | NSA | Monthly |
| Primary Industries Employment | 2019 Q2 | 135.26 | 144.58 | Ths. #, NSA | Quarterly |
| Secondary Industries Employment | 2019 Q2 | 1,062 | 1,046 | Ths. #, NSA | Quarterly |
| Real Wages & Salaries | 2018 | 106.22 | 106.7 | 2010 = 100, NSA | Annual |
| Agriculture Employment | 2017 | 173,023 | 164,400 | # | Annual |
| Labor Force | 2016 | 4,889,215 | 4,814,298 | # | Annual |
| Total Employment | 2016 Q4 | 5,080 | 5,051 | Ths. | Quarterly |
| Labor Force Employment | 2016 Q4 | 5,080 | 5,051 | Ths. | Quarterly |
| Trade | Reference | Last | Previous | Units | Frequency |
| Current Account Balance | 2019 Q2 | 21,272 | 20,553 | Mil. CHF, NSA | Quarterly |
| Exports of Goods and Services | 2019 Q2 | 114,692 | 111,955 | Mil. CHF, CDASA | Quarterly |
| Net Exports | 2019 Q2 | 20,725 | 23,351 | Mil. CHF, CDASA | Quarterly |
| Imports of Goods and Services | 2019 Q2 | 93,967 | 88,604 | Mil. CHF, CDASA | Quarterly |
| Imports of Goods | 2019 Q2 | 68,309 | 63,411 | Mil. CHF, CDASA | Quarterly |
| Balance of Goods | 2019 Q2 | 14,133 | 16,344 | Mil. CHF, CDASA | Quarterly |
| Exports of Goods | 2019 Q2 | 82,442 | 79,756 | Mil. CHF, CDASA | Quarterly |
| Real Imports of Goods and Services | 2019 Q2 | 97,952 | 93,254 | Mil. Ch. 2010 CHF, CDASA | Quarterly |
| Real Exports of Goods and Services | 2019 Q2 | 124,903 | 122,655 | Mil. Ch. 2010 CHF, CDASA | Quarterly |
| Real Net Exports | 2017 | 92,077,714,600 | 86,414,056,400 | NCU | Annual |
| Government | Reference | Last | Previous | Units | Frequency |
| Government Expenditures | 2020 | 77,679 | 74,358 | Mil. CHF | Annual |
| Government Revenues | 2020 | 79,143 | 77,425 | Mil. CHF | Annual |
| Government Budget Balance | 2020 | 1,464 | 3,067 | Mil. CHF | Annual |
| Gross External Debt | 2019 Q1 | 0 | 0 | USD, NSA | Quarterly |
| Outstanding Public Debt | 2017 | 102,474 | 97,462 | Mil. CHF | Annual |
| Markets | Reference | Last | Previous | Units | Frequency |
| Stock Market Index | 18 Oct 2019 | 9,965 | 10,008 | Index, NSA | Daily |
| Average Long-term Government Bond | 30 Sep 2019 | -0.7 | -0.75 | % p.a., NSA | Business Daily |
| Treasury Bills (over 31 days) | Sep 2019 | -0.8 | -0.95 | % p.a., NSA | Monthly |
| Money Market Rate | Sep 2019 | -0.8 | -0.95 | % p.a., NSA | Monthly |
| Lending Rate | 11 Jun 2019 | -0.71 | Percent, NSA | Business Daily | |
| Real Estate | Reference | Last | Previous | Units | Frequency |
| House Price Index | 2016 Q4 | 457.1 | 453.6 | 1970=100, NSA | Quarterly |
| Building Completions | 2013 Q1 | 7,740 | 12,786 | #, NSA | Quarterly |
| Residential Building Permits | 2013 Q1 | 13,325 | 16,277 | #, NSA | Quarterly |
| Consumer | Reference | Last | Previous | Units | Frequency |
| Consumer Confidence | 2019 Q3 | -7.95 | -9.33 | #, NSA | Quarterly |
| Business | Reference | Last | Previous | Units | Frequency |
| Industrial Production | 2019 Q2 | 116.2 | 112.87 | Index 2015=100, NSA | Quarterly |
| Change in Inventories | 2019 Q2 | -2,965 | -3,472 | Mil. CHF, CDASA | Quarterly |
| Business Confidence | Aug 2018 | 100.3 | 101.68 | Index 2007 to 2016=100, NSA | Monthly |
| Demographics | Reference | Last | Previous | Units | Frequency |
| Population | 2018 | 8,544,527 | 8,484,130 | #, NSA | Annual |
| Net Migration | 2017 | 250,000 | # | Annual | |
| Births | 2017 | 87,381 | 87,883 | # | Annual |
| Deaths | 2017 | 66,971 | 64,964 | # | Annual |
| Birth Rate | 2015 | 10.5 | 10.4 | # per Ths. pop. | Annual |
| Death Rate | 2011 | 7.8 | # per Ths. pop. | Annual |
Factbook
Background
Background:
The Swiss Confederation was founded in 1291 as a defensive alliance among three cantons. In succeeding years, other localities joined the original three. The Swiss Confederation secured its independence from the Holy Roman Empire in 1499. A constitution of 1848, subsequently modified in 1874, replaced the confederation with a centralized federal government. Switzerland's sovereignty and neutrality have long been honored by the major European powers, and the country was not involved in either of the two world wars. The political and economic integration of Europe over the past half century, as well as Switzerland's role in many UN and international organizations, has strengthened Switzerland's ties with its neighbors. However, the country did not officially become a UN member until 2002. Switzerland remains active in many UN and international organizations but retains a strong commitment to neutrality.
Geography
Location:
Central Europe, east of France, north of Italy
Geographic coordinates:
47 00 N, 8 00 E
Map references:
Europe
Area:
total: 41,277 sq km
land: 39,997 sq km
water: 1,280 sq km
country comparison to the world: 136
Area - comparative:
slightly less than twice the size of New Jersey
Area comparison map:
Land boundaries:
total: 1,770 km
border countries (5): Austria 158 km, France 525 km, Italy 698 km, Liechtenstein 41 km, Germany 348 km
Coastline:
0 km (landlocked)
Maritime claims:
none (landlocked)
Climate:
temperate, but varies with altitude; cold, cloudy, rainy/snowy winters; cool to warm, cloudy, humid summers with occasional showers
Terrain:
mostly mountains (Alps in south, Jura in northwest) with a central plateau of rolling hills, plains, and large lakes
Elevation:
mean elevation: 1,350 m
elevation extremes: lowest point: Lake Maggiore 195 m
highest point: Dufourspitze 4,634 m
Natural resources:
hydropower potential, timber, salt
Land use:
agricultural land: 38.7%
arable land 10.2%; permanent crops 0.6%; permanent pasture 27.9%
forest: 31.5%
other: 29.8% (2011 est.)
Irrigated land:
630 sq km (2012)
Population - distribution:
population distribution corresponds to elevation with the northern and western areas far more heavily populated; the higher Alps of the south limit settlement
Natural hazards:
avalanches, landslides; flash floods
Environment - current issues:
air pollution from vehicle emissions and open-air burning; acid rain; water pollution from increased use of agricultural fertilizers; loss of biodiversity
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: Law of the Sea
Geography - note:
landlocked; crossroads of northern and southern Europe; along with southeastern France, northern Italy, and southwestern Austria, has the highest elevations in the Alps
People & Society
Population:
8,236,303 (July 2017 est.)
country comparison to the world: 98
Nationality:
noun: Swiss (singular and plural)
adjective: Swiss
Ethnic groups:
German 65%, French 18%, Italian 10%, Romansch 1%, other 6%
Languages:
German (or Swiss German) (official) 63%, French (official) 22.7%, Italian (official) 8.1%, English 4.9%, Portuguese 3.7%, Albanian 3%, Serbo-Croatian 2.4%, Spanish 2.2%, Romansch (official) 0.5%, other 7.1%
note: German, French, Italian, and Romansch are all national and official languages; totals more than 100% because some respondents indicated more than one main language (2015 est.)
Religions:
Roman Catholic 37.3%, Protestant 24.9%, other Christian 5.8%, Muslim 5.1%, other 1.4%, Jewish 0.2%, none 23.9%, unspecified 1.3% (2015 est.)
Age structure:
0-14 years: 15.16% (male 642,814/female 605,689)
15-24 years: 10.88% (male 458,044/female 438,373)
25-54 years: 43.21% (male 1,784,051/female 1,774,494)
55-64 years: 12.6% (male 519,709/female 518,421)
65 years and over: 18.15% (male 658,673/female 836,035) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 48.8
youth dependency ratio: 22
elderly dependency ratio: 26.8
potential support ratio: 3.7 (2015 est.)
Median age:
total: 42.4 years
male: 41.4 years
female: 43.4 years (2017 est.)
country comparison to the world: 27
Population growth rate:
0.69% (2017 est.)
country comparison to the world: 144
Birth rate:
10.5 births/1,000 population (2017 est.)
country comparison to the world: 187
Death rate:
8.3 deaths/1,000 population (2017 est.)
country comparison to the world: 83
Net migration rate:
4.7 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 26
Population distribution:
population distribution corresponds to elevation with the northern and western areas far more heavily populated; the higher Alps of the south limit settlement
Urbanization:
urban population: 74.1% of total population (2017)
rate of urbanization: 1.1% annual rate of change (2015-20 est.)
Major urban areas - population:
Zurich 1.246 million; BERN (capital) 358,000 (2015)
Sex ratio:
at birth: 1.06 male(s)/female
0-14 years: 1.06 male(s)/female
15-24 years: 1.04 male(s)/female
25-54 years: 1.01 male(s)/female
55-64 years: 1 male(s)/female
65 years and over: 0.78 male(s)/female
total population: 0.97 male(s)/female (2017 est.)
Mother's mean age at first birth:
30.7 years (2014 est.)
Maternal mortality ratio:
5 deaths/100,000 live births (2015 est.)
country comparison to the world: 172
Infant mortality rate:
total: 3.6 deaths/1,000 live births
male: 4 deaths/1,000 live births
female: 3.2 deaths/1,000 live births (2017 est.)
country comparison to the world: 202
Life expectancy at birth:
total population: 82.6 years
male: 80.3 years
female: 85.1 years (2017 est.)
country comparison to the world: 10
Total fertility rate:
1.56 children born/woman (2017 est.)
country comparison to the world: 189
Contraceptive prevalence rate:
72.9% (2012)
Health expenditures:
11.7% of GDP (2014)
country comparison to the world: 7
Physicians density:
4.25 physicians/1,000 population (2016)
Hospital bed density:
4.7 beds/1,000 population (2013)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 99.9% of population
rural: 99.8% of population
total: 99.9% of population
unimproved:
urban: 0.1% of population
rural: 0.2% of population
total: 0.1% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
NA
HIV/AIDS - people living with HIV/AIDS:
NA
HIV/AIDS - deaths:
NA
Obesity - adult prevalence rate:
19.5% (2016)
country comparison to the world: 112
Education expenditures:
5.1% of GDP (2014)
country comparison to the world: 66
School life expectancy (primary to tertiary education):
total: 16 years
male: 16 years
female: 16 years (2014)
Unemployment, youth ages 15-24:
total: 8.4%
male: 8.7%
female: 8.1% (2016 est.)
country comparison to the world: 135
Government
Country name:
conventional long form: Swiss Confederation
conventional short form: Switzerland
local long form: Schweizerische Eidgenossenschaft (German); Confederation Suisse (French); Confederazione Svizzera (Italian); Confederaziun Svizra (Romansh)
local short form: Schweiz (German); Suisse (French); Svizzera (Italian); Svizra (Romansh)
abbreviation: CH
etymology: name derives from the canton of Schwyz, one of the founding cantons of the Old Swiss Confederacy that formed in the 14th century
Government type:
federal republic (formally a confederation)
Capital:
name: Bern
geographic coordinates: 46 55 N, 7 28 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
26 cantons (cantons, singular - canton in French; cantoni, singular - cantone in Italian; Kantone, singular - Kanton in German); Aargau, Appenzell Ausserrhoden, Appenzell Innerrhoden, Basel-Landschaft, Basel-Stadt, Berne/Bern, Fribourg/Freiburg, Geneve (Geneva), Glarus, Graubuenden/Grigioni/Grischun, Jura, Luzern, Neuchatel, Nidwalden, Obwalden, Sankt Gallen, Schaffhausen, Schwyz, Solothurn, Thurgau, Ticino, Uri, Valais/Wallis, Vaud, Zug, Zuerich
note: 6 of the cantons - Appenzell Ausserrhoden, Appenzell Innerrhoden, Basel-Landschaft, Basel-Stadt, Nidwalden, Obwalden - are referred to as half cantons because they elect only one member (instead of two) to the Council of States and, in popular referendums where a majority of popular votes and a majority of cantonal votes are required, these 6 cantons only have a half vote
Independence:
1 August 1291 (founding of the Swiss Confederation)
National holiday:
Founding of the Swiss Confederation in 1291; note - since 1 August 1891 celebrated as Swiss National Day
Constitution:
history: previous 1848, 1874; latest adopted by referendum 18 April 1999, effective 1 January 2000
amendments: proposed by the two houses of the Federal Assembly or by petition of at least one million voters (called the "federal popular initiative"); passage of proposals requires majority vote in a referendum; following drafting of an amendment by the Assembly, its passage requires approval by majority vote in a referendum and approval by the majority of cantons; amended many times, last in 2016 (2016)
Legal system:
civil law system; judicial review of legislative acts, except for federal decrees of a general obligatory character
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Switzerland
dual citizenship recognized: yes
residency requirement for naturalization: 12 years including at least 3 of the last 5 years prior to application
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President of the Swiss Confederation Alain BERSET (since 1 January 2018); Vice President Ueli MAURER (since 1 January 2018); note - the Federal Council, which is comprised of 7 federal councillors, constitutes the federal government of Switzerland; council members rotate in a 1-year term as federal president (chief of state and head of government)
head of government: President of the Swiss Confederation Alain BERSET (since 1 January 2018); Vice President Ueli MAURER (since 1 January 2018)
cabinet: Federal Council or Bundesrat (in German), Conseil Federal (in French), Consiglio Federale (in Italian) indirectly elected usually from among its members by the Federal Assembly for a 4-year term
elections/appointments: president and vice president elected by the Federal Assembly from among members of the Federal Council for a 1-year, non-consecutive term; election last held on December 2017 (next to be held in December 2018)
election results: Alain BERSET elected president; Federal Assembly vote - 190 of 210; Ueli MAURER elected vice president; Federal Assembly vote - 178 of 192
Legislative branch:
description: bicameral Federal Assembly or Bundesversammlung (in German), Assemblee Federale (in French), Assemblea Federale (in Italian) consists of the Council of States or Staenderat (in German), Conseil des Etats (in French), Consiglio degli Stati (in Italian) (46 seats; members in multi-seat constituencies representing cantons and single-seat constituencies representing half cantons directly elected by simple majority vote; members serve 4-year terms) and the National Council or Nationalrat (in German), Conseil National (in French), Consiglio Nazionale (in Italian) (200 seats; 195 members in cantons directly elected by proportional representation vote and 6 in half cantons directly elected by simple majority vote; members serve 4-year terms)
elections: Council of States - last held in most cantons on 18 October 2015 (each canton determines when the next election will be held); National Council - last held on 18 October 2015 (next to be held in October 2019)
election results: Council of States - percent of vote by party - NA; seats by party as of 18 October 2015 - CVP 13, FDP 13, SDP 12, SVP 5, other 3; National Council - percent of vote by party - SVP 29.4%, SPS 18.8%, FDP 16.4%, CVP 11.6%, Green Party 7.1%, GLP 4.6%, BDP 4.1%, other 8.0%; seats by party - SVP 68, SPS 43, FDP 33, CVP 30, Green Party 12, GLP 7, BDP 7
Judicial branch:
highest court(s): Federal Supreme Court (consists of 38 judges and 31 substitutes and organized into 5 sections)
judge selection and term of office: judges elected by the Federal Assembly for 6-year terms; note - judges are affiliated with political parties and are elected according to linguistic and regional criteria in approximate proportion to the level of party representation in the Federal Assembly
subordinate courts: Federal Criminal Court (began in 2004); Federal Administrative Court (began in 2007); note - each of Switzerland's 26 cantons has its own courts
Political parties and leaders:
Christian Democratic People's Party (Christlichdemokratische Volkspartei der Schweiz or CVP, Parti Democrate-Chretien Suisse or PDC, Partito Popolare Democratico Svizzero or PPD, Partida Cristiandemocratica dalla Svizra or PCD) [Gerhard PFISTER]
Conservative Democratic Party (Buergerlich-Demokratische Partei Schweiz or BDP, Parti Bourgeois Democratique Suisse or PBD, Partito Borghese Democratico Svizzero or PBD, Partido burgais democratica Svizera or PBD) [Martin LANDOLT]
Free Democratic Party or FDP.The Liberals (FDP.Die Liberalen, PLR.Les Liberaux-Radicaux, PLR.I Liberali, Ils Liberals) [Petra GOESSI]
Green Liberal Party (Grunliberale or GLP, Parti vert liberale or PVL, Partito Verde-Liberale or PVL, Partida Verde Liberale or PVL) [Jurge GROSSEN]
Green Party (Gruene Partei der Schweiz or Gruene, Parti Ecologiste Suisse or Les Verts, Partito Ecologista Svizzero or I Verdi, Partida Ecologica Svizra or La Verda) [Regula RYTZ]
Social Democratic Party (Sozialdemokratische Partei der Schweiz or SPS, Parti Socialiste Suisse or PSS, Partito Socialista Svizzero or PSS, Partida Socialdemocratica de la Svizra or PSS) [Christian LEVRAT]
Swiss People's Party (Schweizerische Volkspartei or SVP, Union Democratique du Centre or UDC, Unione Democratica di Centro or UDC, Uniun Democratica dal Center or UDC) [Albert ROESTI]
other minor parties
Political pressure groups and leaders:
NA
International organization participation:
ADB (nonregional member), AfDB (nonregional member), Australia Group, BIS, CD, CE, CERN, EAPC, EBRD, EFTA, EITI (implementing country), ESA, FAO, FATF, G-10, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAIA (observer), MIGA, MINUSMA, MONUSCO, NEA, NSG, OAS (observer), OECD, OIF, OPCW, OSCE, Pacific Alliance (observer), Paris Club, PCA, PFP, Schengen Convention, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNITAR, UNMISS, UNMOGIP, UNRWA, UNTSO, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Martin Werner DAHINDEN (since 18 November 2014)
chancery: 2900 Cathedral Avenue NW, Washington, DC 20008
telephone: [1] (202) 745-7900
FAX: [1] (202) 387-2564
consulate(s) general: Atlanta, Chicago, Los Angeles, New York, San Francisco
Diplomatic representation from the US:
chief of mission: Ambassador Edward "Ed" MCMULLEN (since 21 November 2017) note - also accredited to Liechtenstein
embassy: Sulgeneckstrasse 19, CH-3007 Bern
mailing address: use embassy street address
telephone: [41] (031) 357-70-11
FAX: [41] (031) 357-73-20
Flag description:
red square with a bold, equilateral white cross in the center that does not extend to the edges of the flag; various medieval legends purport to describe the origin of the flag; a white cross used as identification for troops of the Swiss Confederation is first attested at the Battle of Laupen (1339)
National symbol(s):
Swiss cross (white cross on red field, arms equal length); national colors: red, white
National anthem:
the Swiss anthem has four names: "Schweizerpsalm" [German] "Cantique Suisse" [French] "Salmo svizzero," [Italian] "Psalm svizzer" [Romansch] (Swiss Psalm)
lyrics/music: Leonhard WIDMER [German], Charles CHATELANAT [French], Camillo VALSANGIACOMO [Italian], and Flurin CAMATHIAS [Romansch]/Alberik ZWYSSIG
note: unofficially adopted 1961, officially 1981; the anthem has been popular in a number of Swiss cantons since its composition (in German) in 1841; translated into the other three official languages of the country (French, Italian, and Romansch), it is official in each of those languages
Economy
Economy - overview:
Switzerland, a country that espouses neutrality, is a prosperous and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies.
The Swiss have brought their economic practices largely into conformity with the EU's to gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010.
The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with economic instability in Russia and other eastern European economies drove up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. The independent SNB has upheld its zero interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year from 2011 through 2017.
In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards.
GDP (purchasing power parity):
$516.7 billion (2017 est.)
$511.5 billion (2016 est.)
$504.5 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 40
GDP (official exchange rate):
$680.6 billion (2017 est.)
GDP - real growth rate:
1% (2017 est.)
1.4% (2016 est.)
1.2% (2015 est.)
country comparison to the world: 185
GDP - per capita (PPP):
$61,400 (2017 est.)
$61,400 (2016 est.)
$61,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 17
Gross national saving:
33.5% of GDP (2017 est.)
33.6% of GDP (2016 est.)
34.5% of GDP (2015 est.)
country comparison to the world: 18
GDP - composition, by end use:
household consumption: 53.7%
government consumption: 11.5%
investment in fixed capital: 24%
investment in inventories: -0.7%
exports of goods and services: 67.5%
imports of goods and services: -56% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 0.7%
industry: 25.6%
services: 73.7% (2017 est.)
Agriculture - products:
grains, fruits, vegetables; meat, eggs, dairy products
Industries:
machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance, pharmaceuticals
Industrial production growth rate:
2% (2017 est.)
country comparison to the world: 131
Labor force:
5.159 million (2017 est.)
country comparison to the world: 81
Labor force - by occupation:
agriculture: 3.3%
industry: 19.8%
services: 76.9% (2015 est.)
Unemployment rate:
3% (2017 est.)
3.3% (2016 est.)
country comparison to the world: 35
Population below poverty line:
6.6% (2014 est.)
Household income or consumption by percentage share:
lowest 10%: 7.5%
highest 10%: 19% (2007 est.)
Distribution of family income - Gini index:
29.5 (2014 est.)
33.1 (1992 est.)
country comparison to the world: 133
Budget:
revenues: $223.5 billion
expenditures: $222.1 billion
note: includes federal, cantonal, and municipal budgets (2017 est.)
Taxes and other revenues:
32.8% of GDP (2017 est.)
country comparison to the world: 70
Budget surplus (+) or deficit (-):
0.2% of GDP (2017 est.)
country comparison to the world: 29
Public debt:
32.9% of GDP (2017 est.)
32.6% of GDP (2016 est.)
note: general government gross debt; gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future; includes debt liabilities in the form of Special Drawing Rights (SDRs), currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable; all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options
country comparison to the world: 154
Fiscal year:
calendar year
Inflation rate (consumer prices):
0.5% (2017 est.)
-0.4% (2016 est.)
country comparison to the world: 20
Central bank discount rate:
0.5% (31 December 2016 est.)
0.75% (31 December 2009 est.)
country comparison to the world: 132
Commercial bank prime lending rate:
2.6% (31 December 2017 est.)
2.65% (31 December 2016 est.)
country comparison to the world: 175
Stock of narrow money:
$619.4 billion (31 December 2017 est.)
$555.7 billion (31 December 2016 est.)
country comparison to the world: 11
Stock of broad money:
$1.335 trillion (31 December 2017 est.)
$1.232 trillion (31 December 2016 est.)
country comparison to the world: 16
Stock of domestic credit:
$1.267 trillion (31 December 2017 est.)
$1.166 trillion (31 December 2016 est.)
country comparison to the world: 16
Market value of publicly traded shares:
$1.519 trillion (31 December 2015 est.)
$1.495 trillion (31 December 2014 est.)
$1.541 trillion (31 December 2013 est.)
country comparison to the world: 10
Current account balance:
$67.33 billion (2017 est.)
$70.54 billion (2016 est.)
country comparison to the world: 8
Exports:
$336.8 billion (2017 est.)
$318.1 billion (2016 est.)
note: trade data exclude trade with Switzerland
country comparison to the world: 16
Exports - commodities:
machinery, chemicals, metals, watches, agricultural products
Exports - partners:
Germany 14.4%, US 12.1%, UK 10.7%, China 9%, Hong Kong 6.1%, France 5.8%, Italy 4.9%, India 4.8% (2016)
Imports:
$286.7 billion (2017 est.)
$264.9 billion (2016 est.)
country comparison to the world: 18
Imports - commodities:
machinery, chemicals, vehicles, metals; agricultural products, textiles
Imports - partners:
Germany 19.4%, US 9%, Italy 7.4%, UK 7.1%, UAE 6.2%, France 6.1%, China 4.7% (2016)
Reserves of foreign exchange and gold:
$679.3 billion (31 December 2016 est.)
$679.3 billion (31 December 2016 est.)
country comparison to the world: 4
Debt - external:
$1.664 trillion (31 March 2016 est.)
$1.663 trillion (31 March 2015 est.)
country comparison to the world: 13
Stock of direct foreign investment - at home:
$1.23 trillion (31 December 2017 est.)
$1.217 trillion (31 December 2016 est.)
country comparison to the world: 9
Stock of direct foreign investment - abroad:
$1.556 trillion (31 December 2017 est.)
$1.528 trillion (31 December 2016 est.)
country comparison to the world: 7
Exchange rates:
Swiss francs (CHF) per US dollar -
0.99 (2017 est.)
0.99 (2016 est.)
0.99 (2015 est.)
0.96 (2014 est.)
0.92 (2013 est.)
Energy
Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
64.06 billion kWh (2015 est.)
country comparison to the world: 45
Electricity - consumption:
58.45 billion kWh (2015 est.)
country comparison to the world: 44
Electricity - exports:
30.17 billion kWh (2016 est.)
country comparison to the world: 6
Electricity - imports:
34.1 billion kWh (2016 est.)
country comparison to the world: 5
Electricity - installed generating capacity:
19.62 million kW (2015 est.)
country comparison to the world: 45
Electricity - from fossil fuels:
2.9% of total installed capacity (2015 est.)
country comparison to the world: 208
Electricity - from nuclear fuels:
17% of total installed capacity (2015 est.)
country comparison to the world: 12
Electricity - from hydroelectric plants:
61% of total installed capacity (2015 est.)
country comparison to the world: 26
Electricity - from other renewable sources:
11.1% of total installed capacity (2015 est.)
country comparison to the world: 67
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 198
Crude oil - exports:
319.1 bbl/day (2016 est.)
country comparison to the world: 77
Crude oil - imports:
58,400 bbl/day (2016 est.)
country comparison to the world: 53
Crude oil - proved reserves:
0 bbl (1 January 2017 est.)
country comparison to the world: 197
Refined petroleum products - production:
63,400 bbl/day (2016 est.)
country comparison to the world: 79
Refined petroleum products - consumption:
217,400 bbl/day (2016 est.)
country comparison to the world: 54
Refined petroleum products - exports:
8,894 bbl/day (2016 est.)
country comparison to the world: 85
Refined petroleum products - imports:
166,300 bbl/day (2016 est.)
country comparison to the world: 39
Natural gas - production:
25 million cu m (2015 est.)
country comparison to the world: 91
Natural gas - consumption:
4.639 billion cu m (2015 est.)
country comparison to the world: 67
Natural gas - exports:
0 cu m (2016 est.)
country comparison to the world: 189
Natural gas - imports:
3.484 billion cu m (2015 est.)
country comparison to the world: 40
Natural gas - proved reserves:
NA cu m (1 January 2011 est.)
Carbon dioxide emissions from consumption of energy:
45 million Mt (2013 est.)
country comparison to the world: 63
Communications
Telephones - fixed lines:
total subscriptions: 3,968,500
subscriptions per 100 inhabitants: 49 (July 2016 est.)
country comparison to the world: 38
Telephones - mobile cellular:
total: 11,242,100
subscriptions per 100 inhabitants: 136 (July 2016 est.)
country comparison to the world: 81
Telephone system:
general assessment: highly developed telecommunications infrastructure with excellent domestic and international services
domestic: ranked among leading countries for fixed-line teledensity and infrastructure; mobile-cellular subscribership roughly 140 per 100 persons; extensive cable and microwave radio relay networks
international: country code - 41; satellite earth stations - 2 Intelsat (Atlantic Ocean and Indian Ocean) (2016)
Broadcast media:
the publicly owned radio and TV broadcaster, Swiss Broadcasting Corporation (SRG/SSR), operates 7 national TV networks, 3 broadcasting in German, 2 in Italian, and 2 in French; private commercial TV stations broadcast regionally and locally; TV broadcasts from stations in Germany, Italy, and France are widely available via multi-channel cable and satellite TV services; SRG/SSR operates 17 radio stations that, along with private broadcasters, provide national to local coverage (2015)
Internet country code:
.ch
Internet users:
total: 7,312,744
percent of population: 89.4% (July 2016 est.)
country comparison to the world: 60
Transportation
National air transport system:
number of registered air carriers: 12
inventory of registered aircraft operated by air carriers: 163
annual passenger traffic on registered air carriers: 26,843,991
annual freight traffic on registered air carriers: 1,322,379,468 mt-km (2015)
Civil aircraft registration country code prefix:
HB (2016)
Airports:
63 (2013)
country comparison to the world: 78
Airports - with paved runways:
total: 40
over 3,047 m: 3
2,438 to 3,047 m: 2
1,524 to 2,437 m: 12
914 to 1,523 m: 6
under 914 m: 17 (2013)
Airports - with unpaved runways:
total: 23
under 914 m: 23 (2013)
Heliports:
2 (2013)
Pipelines:
gas 1,800 km; oil 94 km; refined products 7 km (2013)
Railways:
total: 5,651.5 km
standard gauge: 4,424.8 km 1.435-m gauge (3,634.1 km electrified)
narrow gauge: 2 km 1.200-m gauge (2 km electrified); 1,188.3 km 1.000-m gauge (1,167.3 km electrified); 36.4 km 0.800-m gauge (36.4 km electrified) (2014)
country comparison to the world: 34
Roadways:
total: 71,464 km
paved: 71,464 km (includes 1,415 of expressways) (2011)
country comparison to the world: 66
Waterways:
1,292 km (there are 1,227 km of waterways on lakes and rivers for public transport and 65 km on the Rhine River between Basel-Rheinfelden and Schaffhausen-Bodensee for commercial goods transport) (2010)
country comparison to the world: 57
Merchant marine:
total: 51
by type: bulk carrier 30, general cargo 12, oil tanker 1, other 8 (2017)
country comparison to the world: 115
Ports and terminals:
river port(s): Basel (Rhine)
Military & Security
Military expenditures:
0.71% of GDP (2016)
0.67% of GDP (2015)
0.66% of GDP (2014)
0.73% of GDP (2013)
0.69% of GDP (2012)
country comparison to the world: 132
Military branches:
Swiss Armed Forces: Land Forces, Swiss Air Force (Schweizer Luftwaffe) (2013)
Military service age and obligation:
19-26 years of age for male compulsory military service; 18 years of age for voluntary male and female military service; every Swiss male has to serve at least 260 days in the armed forces; conscripts receive 18 weeks of mandatory training, followed by seven 3-week intermittent recalls for training during the next 10 years (2012)
Transnational Issues
Disputes - international:
none
Refugees and internally displaced persons:
refugees (country of origin): 26,264 (Eritrea); 11,159 (Syria); 5,675 (Afghanistan); 5,458 (Sri Lanka) (2016)
stateless persons: 66 (2016)
Illicit drugs:
a major international financial center vulnerable to the layering and integration stages of money laundering; despite significant legislation and reporting requirements, secrecy rules persist and nonresidents are permitted to conduct business through offshore entities and various intermediaries; transit country for and consumer of South American cocaine, Southwest Asian heroin, and Western European synthetics; domestic cannabis cultivation and limited ecstasy production
