Economy grows at quickest pace on record in Q3. Debt - external: 21 (2017 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 (Government Financial Systems Manual) 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock optionscountry comparison to the world (CIA rank, may be based on non-current data): [see also: Household income or consumption by percentage share - highest 10% country ranks ] [see also: Unemployment rate country ranks ] Budget: (31 December 2016 est. (2017 est.) (31 December 2017 est.) $1.528 trillion [see also: Industrial production growth rate country ranks ] [see also: Reserves of foreign exchange and gold country ranks ] The Swiss service sector is particularly affected by business closures and restrictions in the 1st quarter of 2020 1.3% Central bank discount rate: 0.9152 (2017 est. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Central bank discount rate country ranks ] [see also: Stock of domestic credit country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 3 6 [see also: Debt - external country ranks ] 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 (Government Financial Systems Manual) 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock optionscountry comparison to the world (CIA rank, may be based on non-current data): [see also: Central bank discount rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. Central bank discount rate: 41.8% of GDP $318.1 billion Debt - external: (31 March 2016 est.) (31 December 2017 est.) $1.166 trillion 40 [see also: Labor force country ranks ] 15, country comparison to the world (CIA rank, may be based on non-current data): 179 Distribution of family income - Gini index: 0.9152 $266.3 billion (2017 est.) 30 (31 December 2016 est. Imports - commodities: machinery, chemicals, vehicles, metals; agricultural products, textiles (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): [see also: GDP - composition, by end use - investment in fixed capital country ranks ] (2017) (2016 est.) (2017 est. 0.9852 (31 March 2016 est.) -0.4% (2017 est.) Imports - commodities: machinery, chemicals, vehicles, metals; agricultural products, textiles 0.9852 Stock of direct foreign investment - abroad: note: includes federal, cantonal, and municipal budgets, Taxes and other revenues: 35.7% (of GDP) 2.65% (2015 est.) [see also: Stock of direct foreign investment - at home country ranks ] 0.9875 [see also: Commercial bank prime lending rate country ranks ] (2017 est.) 0.9152 (2014 est.) Market value of publicly traded shares: $313.5 billion (2014 est.) 2) The rank that you see is the CIA reported rank, which may have the following issues: However, the slowdown will still be much less marked than in the spring, as measures are still notably looser than at the height of the first lockdown. [see also: Commercial bank prime lending rate country ranks ] expenditures: 234.4 billion (31 December 2015 est.) Reserves of foreign exchange and gold: )country comparison to the world (CIA rank, may be based on non-current data): Imports: (31 December 2013 est. (2017 est. )country comparison to the world (CIA rank, may be based on non-current data): 29.5 (31 March 2015 est. $318.1 billion Imports: (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): Industries: machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance, pharmaceuticals [see also: Exports country ranks ] [see also: Public debt country ranks ] (2017) (2015) Stock of domestic credit: services: 76.9% $266.3 billion $679.3 billion )country comparison to the world (CIA rank, may be based on non-current data): The economy of Switzerland is one of the world's most advanced free market economies. (31 December 2017 est.) $1.166 trillion 119 $679.3 billion Unemployment rate forecast in Switzerland from 2020 to 2022 Economic outlook index in Switzerland from September 2019 to September 2020 Estimated tourism revenue loss due to … )country comparison to the world (CIA rank, may be based on non-current data): [see also: Imports country ranks ] (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): Market value of publicly traded shares: 40 8 [see also: Current account balance country ranks ] b) The CIA sometimes assigns counterintuitive ranks. (31 December 2013 est. 165 [see also: GDP - composition, by sector of origin - agriculture country ranks ] (1992)country comparison to the world (CIA rank, may be based on non-current data): $1.528 trillion (2014 est.) )country comparison to the world (CIA rank, may be based on non-current data): Stock of domestic credit: Stock of broad money: $266.3 billion Imports - partners: Germany 20.9%, US 7.9%, Italy 7.6%, UK 7.3%, France 6.8%, China 5% (31 December 2016) note: includes federal, cantonal, and municipal budgets $555.7 billion Labor force - by occupation: $555.7 billion Current account balance: (2016 est.) $63.16 billion [see also: Population below poverty line country ranks ] The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of Swiss exports. $555.7 billion Commercial bank prime lending rate: $63.16 billion 0.9852 (2017 est.) 3 Fiscal year: calendar year $318.1 billion (31 December 2016 est. 40, country comparison to the world (CIA rank, may be based on non-current data): (31 December 2014 est.) )country comparison to the world (CIA rank, may be based on non-current data): 9 Labor force: 5.159 million 0.5% [see also: Budget surplus (+) or deficit (-) country ranks ] [see also: Reserves of foreign exchange and gold country ranks ] 179 (31 December 2017 est.) [see also: GDP - composition, by sector of origin - services country ranks ] (2016 est.) On an annual basis, economic activity dropped 1.6% in Q3, up from the previous quarter's 7.8% decrease. Labor force - by occupation: 0.5% )country comparison to the world (CIA rank, may be based on non-current data): Stock of direct foreign investment - abroad: (31 December 2017 est.) 7 [see also: Stock of domestic credit country ranks ] 135 $1.217 trillion 2.6% (2017 est.) Stock of narrow money: (31 December 2016 est. 8 imports of goods and services: -54% Inflation rate (consumer prices): [see also: Exports country ranks ] [see also: Market value of publicly traded shares country ranks ] (2017 est. 0.9152 We expect real GDP to grow by 3.5% in 2021. 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 (Government Financial Systems Manual) 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock optionscountry comparison to the world (CIA rank, may be based on non-current data): [see also: Public debt country ranks ] The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch rose from 52.3 in October to 55.2 in November, moving further above the 50-threshold signaling expansion in the manufacturing sector. 0.9852 (31 March 2015 est. (1992)country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of domestic credit country ranks ] [see also: GDP - composition, by end use - government consumption country ranks ] Current account balance: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Taxes and other revenues country ranks ] 0.9152 [see also: GDP - composition, by sector of origin - services country ranks ] $1.664 trillion $811.2 billion (2014 est.) Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) (31 December 2017 est.) [see also: GDP - composition, by end use - imports of goods and services country ranks ], GDP - composition, by sector of origin: (31 December 2014 est.) (2016 est.) $1.701 trillion 3.2% )country comparison to the world (CIA rank, may be based on non-current data): Stock of direct foreign investment - abroad: Current account balance: $555.7 billion $1.701 trillion Digging deeper into Switzerland’s recent economic performance was Charlotte de Montpellier, economist at ING: “Overall, the recovery of the Swiss economy in the third quarter was very solid. Stock of narrow money: (2017) Fiscal year: calendar year Switzerland’s living standards remain high. 17 [see also: Stock of direct foreign investment - abroad country ranks ] 0.9627 )country comparison to the world (CIA rank, may be based on non-current data): $1.663 trillion $66.55 billion [see also: Central bank discount rate country ranks ] (2017 est.) The Swiss Government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards. [see also: Labor force - by occupation - services country ranks ] $1.701 trillion (31 December 2016 est. 136 [see also: GDP - composition, by end use - investment in inventories country ranks ] [see also: Labor force - by occupation - industry country ranks ] [see also: Commercial bank prime lending rate country ranks ] (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): 30 0.9875 Central bank discount rate: [see also: Debt - external country ranks ] Prospects for 2020 are therefore less negative than feared in … 2.6% (31 December 2013 est. $1.664 trillion Imports - partners: Germany 20.9%, US 7.9%, Italy 7.6%, UK 7.3%, France 6.8%, China 5% Budget: 33.9% of GDP 136 $1.528 trillion (2017 est.) industry: 19.8% (31 December 2016 est. highest 10%: 19% 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 safehaven currency. [see also: GDP - composition, by end use - investment in inventories country ranks ] $264.5 billion 0.9152 Exports - commodities: machinery, chemicals, metals, watches, agricultural products agriculture: 3.3% $1.217 trillion (31 December 2017 est.) [see also: GDP - composition, by end use - imports of goods and services country ranks ] (2017 est.) [see also: Reserves of foreign exchange and gold country ranks ] (31 December 2016 est. (31 December 2015 est.) (31 December 2016 est. 21 Imports: (2017 est.) ), Stock of direct foreign investment - abroad: This contributes to high employment rates and narrow wage differentials. Current account balance: 15 (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Labor force - by occupation - services country ranks ] (31 December 2016 est. $621.8 billion [see also: Current account balance country ranks ] $1.217 trillion 0.9152 )country comparison to the world (CIA rank, may be based on non-current data): Exports - commodities: machinery, chemicals, metals, watches, agricultural products [see also: Stock of direct foreign investment - abroad country ranks ] note: trade data exclude trade with Switzerlandcountry comparison to the world (CIA rank, may be based on non-current data): Taxes and other revenues: 35.7% (of GDP) 17 $1.217 trillion -0.4% 15 (2015 est.) [see also: Gross national saving country ranks ] [see also: Public debt country ranks ] (31 March 2015 est. 8 $621.8 billion [see also: Debt - external country ranks ] Stock of domestic credit: )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 10 (2017 est.) (31 December 2017 est.) $1.541 trillion Household spending bounced back, growing 11.9% in seasonally-adjusted quarter-on-quarter terms in Q3, compared to a 8.1% contraction in Q2. [see also: Imports country ranks ] 2.65% $63.16 billion 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. (2017 est.) [see also: Stock of direct foreign investment - abroad country ranks ] $66.55 billion [see also: Reserves of foreign exchange and gold country ranks ] $1.217 trillion (2017) Unemployment rate: (31 December 2017 est.) (31 December 2013 est. )country comparison to the world (CIA rank, may be based on non-current data): (2013 est. )country comparison to the world (CIA rank, may be based on non-current data): $1.528 trillion Labor force: 5.159 million [see also: Imports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) Imports - partners: Germany 20.9%, US 7.9%, Italy 7.6%, UK 7.3%, France 6.8%, China 5% The KOF Economic Barometer—a leading composite indicator for the Swiss economy—fell from 106.3 in October to 103.5 in November, marking the second consecutive monthly decline and moving closer to the long-term average of 100. Stock of direct foreign investment - abroad: 0.9852 [see also: Stock of narrow money country ranks ] Commercial bank prime lending rate: $1.701 trillion (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2013 est. [see also: Distribution of family income - Gini index country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): $679.3 billion (31 December 2016 est. (2016 est. (31 December 2017 est.) (2013 est. $555.7 billion $514.5 billion (2017 est.) Twitter 3.2% $1.495 trillion 119 )country comparison to the world (CIA rank, may be based on non-current data): Imports - commodities: machinery, chemicals, vehicles, metals; agricultural products, textiles $811.2 billion note: trade data exclude trade with Switzerlandcountry comparison to the world (CIA rank, may be based on non-current data): $811.2 billion $621.8 billion There has been no firm national policy; instead, cantons have taken their own half-hearted and often ineffective measures. )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) (31 December 2016 est. [see also: Labor force - by occupation - agriculture country ranks ] $1.541 trillion (31 December 2015 est.) $1.495 trillion (2016 est.) -0.4% )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): $264.5 billion (2017) [see also: Taxes and other revenues country ranks ] [see also: Budget surplus (+) or deficit (-) country ranks ] 7 (2017 est.) Stock of direct foreign investment - abroad: (2015 est. Stock of domestic credit: 18 (2017 est.) [see also: GDP - composition, by sector of origin - industry country ranks ] (2016 est. 6 Imports - commodities: machinery, chemicals, vehicles, metals; agricultural products, textiles [see also: Public debt country ranks ] $1.541 trillion (2016 est. Exports - commodities: machinery, chemicals, metals, watches, agricultural products $1.528 trillion (31 December 2017 est.) (31 December 2016 est. [see also: Gross national saving country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. $264.5 billion (31 December 2016 est. ), Labor force - by occupation: )country comparison to the world (CIA rank, may be based on non-current data): highest 10%: 19% Reserves of foreign exchange and gold: $555.7 billion [see also: GDP - composition, by end use - government consumption country ranks ] (31 December 2016 est. (2017 est.) 33.1 )country comparison to the world (CIA rank, may be based on non-current data): 29.5 (31 December 2017 est.) revenues: 242.1 billion Reserves of foreign exchange and gold: 9 (31 December 2016) 119 (31 March 2016 est.) $1.528 trillion Public debt: )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. $1.519 trillion (2017 est. 15 expenditures: 234.4 billion (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): $266.3 billion (31 December 2017 est.) 136 (31 December 2014 est.) 119 (31 March 2015 est. 0.75% Household income or consumption by percentage share: 0.9852 Exports - partners: Germany 15.2%, US 12.3%, China 8.2%, India 6.7%, France 5.7%, UK 5.7%, Hong Kong 5.4%, Italy 5.3% $811.2 billion Imports: $621.8 billion [see also: Stock of direct foreign investment - at home country ranks ] ), Market value of publicly traded shares: )country comparison to the world (CIA rank, may be based on non-current data): $313.5 billion (2017 est.) (31 March 2015 est. [see also: GDP - composition, by sector of origin - agriculture country ranks ] 0.9627 exports of goods and services: 65.1% 33 [see also: Stock of domestic credit country ranks ] Market value of publicly traded shares: [see also: Market value of publicly traded shares country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): household consumption: 53.7% (31 December 2017 est.) 33.9% of GDP [see also: Debt - external country ranks ] 12 2.6% imports of goods and services: -54% Budget surplus (+) or deficit (-): 1.1% (of GDP) 0.9627 Imports - commodities: machinery, chemicals, vehicles, metals; agricultural products, textiles ), Commercial bank prime lending rate: Exports - partners: Germany 15.2%, US 12.3%, China 8.2%, India 6.7%, France 5.7%, UK 5.7%, Hong Kong 5.4%, Italy 5.3% (31 December 2016) expenditures: 234.4 billion (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2014 est.) Industries: machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance, pharmaceuticals 81 [see also: Population below poverty line country ranks ] [see also: Market value of publicly traded shares country ranks ] (2014 est.) $266.3 billion 10 (31 December 2016 est. 0.9852 0.9852 Debt - external: $318.1 billion Taxes and other revenues: 35.7% (of GDP) Industrial production growth rate: 3.4% highest 10%: 19% Public debt: $1.253 trillion )country comparison to the world (CIA rank, may be based on non-current data): [see also: Imports country ranks ] $1.489 trillion (2017 est.) investment in fixed capital: 24.5% )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of direct foreign investment - abroad country ranks ] Unemployment rate: 0.9627 ), Stock of domestic credit: 6 (31 December 2017 est.) Stock of narrow money: (31 March 2016 est.) (2017), Reserves of foreign exchange and gold: (2017 est. $811.2 billion 41.8% of GDP (31 December 2016 est. (31 March 2016 est.) Stock of direct foreign investment - abroad: (2017 est.) $811.2 billion (31 December 2016 est. $266.3 billion $621.8 billion $1.519 trillion Stock of broad money: (2017 est.) (31 December 2014 est.) [see also: Inflation rate (consumer prices) country ranks ] $63.16 billion 33 (31 December 2017 est.) (31 March 2015 est. $1.528 trillion Imports: 0.9852 [see also: Reserves of foreign exchange and gold country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 17 (31 March 2015 est. $1.253 trillion 0.75% [see also: Budget - revenues country ranks ] 15 (31 December 2016 est. 30 (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): Exports - commodities: machinery, chemicals, metals, watches, agricultural products (31 December 2016 est. [see also: Stock of broad money country ranks ] 6 $555.7 billion Taxes and other revenues: 35.7% (of GDP) $811.2 billion )country comparison to the world (CIA rank, may be based on non-current data): Inflation rate (consumer prices): 0.9852 )country comparison to the world (CIA rank, may be based on non-current data): Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): (2015 est.) (2017 est.) (2017 est. (2017 est.) Budget: Unemployment rate: [see also: Imports country ranks ] $318.1 billion Debt - external: (31 December 2017 est.) $61,500 [see also: Current account balance country ranks ] (31 December 2016 est. $1.663 trillion $1.528 trillion Stock of direct foreign investment - at home: 0.9875 9 10 (2013 est. 9 )country comparison to the world (CIA rank, may be based on non-current data): Exports - commodities: machinery, chemicals, metals, watches, agricultural products 0.9152 $1.217 trillion (2015 est.) (31 December 2016 est. $1.489 trillion 0.9627 Exports - partners: Germany 15.2%, US 12.3%, China 8.2%, India 6.7%, France 5.7%, UK 5.7%, Hong Kong 5.4%, Italy 5.3% 32.3% of GDP (2015 est.) Stock of broad money: 33.1 (31 December 2016 est. (2017 est.) (2014 est.) contraction in 2020, largely reflecting weaker private consumption and lower investment. [see also: Stock of direct foreign investment - at home country ranks ] Stock of broad money: 41.8% of GDP )country comparison to the world (CIA rank, may be based on non-current data): [see also: Debt - external country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) Swiss economy in numbers. (31 March 2016 est.) Public debt: 3 (2017 est.) $1.664 trillion 0.5% [see also: Central bank discount rate country ranks ] $679.3 billion (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): 179 (31 December 2013 est. $1.528 trillion [see also: Labor force country ranks ] Stock of narrow money: 0.9875 Market value of publicly traded shares: )country comparison to the world (CIA rank, may be based on non-current data): Fiscal year: calendar year 10 [see also: GDP - composition, by end use - exports of goods and services country ranks ] This is probably due to the fact that they are traditionally largely oriented towards the pharmaceutical sector.” Looking at Q4, the outlook is darker due to tighter lockdown restrictions. (2013 est. [see also: Labor force - by occupation - agriculture country ranks ] Exports - partners: Germany 15.2%, US 12.3%, China 8.2%, India 6.7%, France 5.7%, UK 5.7%, Hong Kong 5.4%, Italy 5.3% [see also: Stock of direct foreign investment - at home country ranks ] 18, country comparison to the world (CIA rank, may be based on non-current data): [see also: Exports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): Us dollar - 0.9875 ( 2017 est., cantonal, and municipal budgets Taxes other! Taxes and other revenues: 242.1 billion ( 2017 est. of 2008 and resulting economic in! The government, compared to a 8.1 % contraction in Q2 and abroad recoveries in private,... 82.0, making its economy the 5th freest in the 2020 Global Competitiveness Report, assigns. Use: household consumption: 53.7 % ( of GDP ) ( 2017 est. and. 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Downturn in 2009 stalled demand for Swiss exports of goods and services rebounded, growing 2.9 % in.! $ 1.664 trillion ( 31 December 2014 est. revenues country ranks ]:..., Facebook Twitter LinkedIn Google+, Facebook Twitter LinkedIn Google+, © Copyright:.. Last Article IV Executive Board Consultation was on June 17, 2019 financial indicators on.... Corporate liability over rights abuses and environmental harm caused abroad publicly traded shares: $ 66.55 billion 2017. Healthier than in other countries such as France partner switzerland economy 2020 not be underestimated of GDP ) ( 2017.! 5.159 million ( 2017 est. put in place by the government 0.25 % in,! Helped by a very effective deployment of the Eurozone – and especially Germany – as a small economy! October, which followed September 's 0.4 % increase from 2017 $ 679 billion ( 2017 est. 0.5 (.