Switzerland's Macroeconomic Analysis:
Nominal GDP of USD 819 billion in 2022.
Nominal GDP of USD 895 billion in 2023.
GDP per capita of USD 101,497 compared to the global average of USD 10,589.
GDP per capita of USD 93,664 compared to the global average of USD 10,589.
Average real GDP growth of 1.9% over the last decade.
Average real GDP growth of 1.8% over the last decade.
Sector Analysis
In 2021, services accounted for 74% of overall GDP, manufacturing 19%, other industrial activity 6%, and agriculture 1%. Looking at GDP by expenditure, private consumption accounted for 50% of GDP in 2021, government consumption 12%, fixed investment 24%, and net exports 14%.International trade
In 2021, manufactured products made up 71% of total merchandise exports, mineral fuels 1%, food 3%, ores and metals 2% and agricultural raw materials 0%, with other categories accounting for 23% of the total. In the same period, manufactured products made up 59% of total merchandise imports, mineral fuels 3%, food 5%, ores and metals 3% and agricultural raw materials 1%, with other goods accounting for 29% of the total. Total exports were worth USD 475 billion in 2022, while total imports were USD 355 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 1.8% in the decade to 2022. To read more about GDP growth in Switzerland, go to our dedicated page.
Fiscal policy
Switzerland's fiscal surplus averaged 0.2% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 2.9% in the decade to 2022. For more information on Switzerland's unemployment click here.
Inflation
Inflation averaged 0.2% in the decade to 2022. Go to our Switzerland inflation page for extra insight.
Monetary Policy
Switzerland's monetary policy rate ended 2022 at 1.00%, up from 0.13% a decade earlier. See our Switzerland monetary policy page for additional details.
Exchange Rate
From end-2012 to end-2022 the franc stayed on the same level vs the U.S. dollar. For more info on the franc, click here.
Economic situation in Switzerland
The Swiss economy slowed in Q3, with GDP growth slipping to 0.4% from 0.6% in Q2, in line with market expectations. The headline reading overstated the underlying strength of the economy: Accounting for major sporting events, growth was a mere 0.2%, in line with the flash estimate. Declines in fixed investment plus exports of goods and services partly offset higher private and government spending. Our Consensus is for further modest GDP growth in Q4, which is expected to be driven by private spending and fixed investment. The manufacturing and services PMI business surveys are in line with this projection: In October–November, the services PMI was slightly in expansionary territory while the manufacturing PMI was marginally in contractionary terrain.Switzerland Economic Forecasts
Projections out to 2034.45 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 35 expert analysts.
Want to get insight on the economic outlook for Switzerland in the coming years? FocusEconomics collects projections out to 2034 on 45 economic indicators for Switzerland from a panel of 35 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Switzerland economy. To download a sample report on the Switzerland's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.