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, grapes, maize (2022).
More about the economy of Switzerland
| Labor force | 4.991 million (2023 est.) |
|---|---|
| Industrial production growth rate | -1.66% (2023 est.) |
| Industries | machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance, pharmaceuticals |
| Population below poverty line | 14.7% (2020 est.) |
| Taxes and other revenues | 9.1% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Swiss francs (CHF) per US dollar - |
| 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.) |
| Exchange rates 2019 | 0.994 (2019 est.) |
| Debt - external | |
| Debt - external 2019 | $1.909 trillion (2019 est.) |
| Debt - external 2018 | $1.931 trillion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $863.892 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $923.628 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $1.11 trillion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $67.821 billion (2023 est.) |
| Current account balance 2022 | $77.245 billion (2022 est.) |
| Current account balance 2021 | $56.091 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 17.8% of GDP (2022 est.) |
| Budget | |
| Revenues | $239.767 billion (2018 est.) |
| Expenditures | $230.383 billion (2018 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.28% of GDP (2023 est.) |
| Remittances 2022 | 0.38% of GDP (2022 est.) |
| Remittances 2021 | 0.39% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.9% (2020 est.) |
| Highest 10% | 26.4% (2020 est.) |
| Average household expenditures | |
| On food | 9.9% of household expenditures (2021 est.) |
| On alcohol and tobacco | 3.5% of household expenditures (2021 est.) |
| Imports | |
| Imports 2023 | $554.358 billion (2023 est.) |
| Imports 2022 | $516.517 billion (2022 est.) |
| Imports 2021 | $481.27 billion (2021 est.) |
| Imports (partners) | Germany 21%, US 10%, Italy 8%, France 6%, China 5% (2022) |
| Comodities Imports force | gold, packaged medicine, vaccines, cars, garments (2022) |
| Exports | |
| Imports 2023 | $554.358 billion (2023 est.) |
| Imports 2022 | $516.517 billion (2022 est.) |
| Imports 2021 | $481.27 billion (2021 est.) |
| Exports (partners) | US 15%, Germany 13%, China 11%, Italy 6%, France 5% (2022) |
| Comodities Exports force | gold, vaccines, packaged medicine, nitrogen compounds, base metal watches (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $733.779 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $728.562 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $710.319 billion (2021 est.) |
| GDP (official exchange rate) | $884.94 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $82,900 (2023 est.) |
| Real GDP per capita 2022 | $83,000 (2022 est.) |
| Real GDP per capita 2021 | $81,600 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.7% (2017 est.) |
| Industry | 25.6% (2017 est.) |
| Services | 73.7% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 53.7% (2017 est.) |
| Government consumption | 12% (2017 est.) |
| Investment in fixed capital | 24.5% (2017 est.) |
| Investment in inventories | -1.4% (2017 est.) |
| Exports of goods and services | 65.1% (2017 est.) |
| Imports of goods and services | -54% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 4.05% (2023 est.) |
| Unemployment rate 2022 | 4.3% (2022 est.) |
| Unemployment rate 2021 | 5.1% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 8% (2023 est.) |
| Male | 8.3% (2023 est.) |
| Female | 7.7% (2023 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