Switzerland - Economy
How is the economy of Switzerland? Based on the information we have, Switzerland has a high-income, non-EU European economy; top ten in GDP per capita; renowned banking and financial hub; low unemployment and inflation; slowed GDP growth post-pandemic; highly skilled but aging workforce; key pharmaceutical and precision manufacturing exporter; leader in innovation and competitiveness indices. Key agricultural products in this country include: milk, sugar beets, wheat, potatoes, pork, apples, barley, beef, maize, grapes (2023).
More about the economy of Switzerland
| Labor force | 5.153 million (2024 est.) |
|---|---|
| Industrial production growth rate | 1.7% (2024 est.) |
| Industries | machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance, pharmaceuticals |
| Population below poverty line | 15.8% (2021 est.) |
| Taxes and other revenues | 9% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Swiss francs (CHF) per US dollar - |
| Exchange rates 2024 | 0.88 (2024 est.) |
| Exchange rates 2023 | 0.898 (2023 est.) |
| Exchange rates 2022 | 0.955 (2022 est.) |
| Exchange rates 2021 | 0.914 (2021 est.) |
| Exchange rates 2020 | 0.939 (2020 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $909.366 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $863.892 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $923.628 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $47.162 billion (2024 est.) |
| Current account balance 2023 | $47.455 billion (2023 est.) |
| Current account balance 2022 | $72.325 billion (2022 est.) |
| Public debt | |
| Public debt 2023 | 19.9% of GDP (2023 est.) |
| Budget | |
| Revenues | $153.795 billion (2023 est.) |
| Expenditures | $152.488 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 0.4% of GDP (2024 est.) |
| Remittances 2023 | 0.4% of GDP (2023 est.) |
| Remittances 2022 | 0.4% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 3% (2021 est.) |
| Highest 10% | 26.6% (2021 est.) |
| Average household expenditures | |
| On food | 9% of household expenditures (2023 est.) |
| On alcohol and tobacco | 3.5% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $582.554 billion (2024 est.) |
| Imports 2023 | $556.351 billion (2023 est.) |
| Imports 2022 | $518.002 billion (2022 est.) |
| Imports (partners) | Germany 17%, USA 9%, Italy 8%, France 6%, China 5% (2023) |
| Comodities Imports force | gold, packaged medicine, vaccines, cars, jewelry (2023) |
| Exports | |
| Imports 2024 | $582.554 billion (2024 est.) |
| Imports 2023 | $556.351 billion (2023 est.) |
| Imports 2022 | $518.002 billion (2022 est.) |
| Exports (partners) | Germany 14%, China 12%, USA 11%, Italy 5%, Turkey 5% (2023) |
| Comodities Exports force | gold, packaged medicine, vaccines, nitrogen compounds, base metal watches (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $741.035 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $731.508 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $726.544 billion (2022 est.) |
| GDP (official exchange rate) | $936.564 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $82,000 (2024 est.) |
| Real GDP per capita 2023 | $82,300 (2023 est.) |
| Real GDP per capita 2022 | $82,800 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.6% (2024 est.) |
| Industry | 24.7% (2024 est.) |
| Services | 72% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 51.1% (2023 est.) |
| Government consumption | 11.3% (2023 est.) |
| Investment in fixed capital | 25.8% (2023 est.) |
| Investment in inventories | 0.2% (2023 est.) |
| Exports of goods and services | 73.3% (2023 est.) |
| Imports of goods and services | -62% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 4.2% (2024 est.) |
| Unemployment rate 2023 | 4.1% (2023 est.) |
| Unemployment rate 2022 | 4.2% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 7.9% (2024 est.) |
| Male | 8.3% (2024 est.) |
| Female | 7.5% (2024 est.) |
All Important Facts about Switzerland
Want to know more about Switzerland? Check all different factbooks for Switzerland below.
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Switzerland Factbook
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The Economy of Switzerland
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Learn about the Government of Switzerland
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Communication in Switzerland
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Popular Universities in Switzerland
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Enerny in Switzerland
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Transport in Switzerland
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The Geography and society of Switzerland
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The Environment of Switzerland
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Military and security in Switzerland