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Switzerland Economy 2017
http://www.theodora.com/wfbcurrent/switzerland/switzerland_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Switzerland Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

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 enhance their international competitiveness, but some trade protectionism remains, 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 ongoing economic instability in Russia and other eastern European economies continue to pose a significant risk to the Swiss economy, driving 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 2011-15.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, and is openly considering the possibility of imposing taxes on bank deposits held by foreigners.

GDP (purchasing power parity):
$494.3 billion (2016 est.) $489.5 billion (2015 est.) $485.5 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 40
[see also: GDP country ranks ]

GDP (official exchange rate):
$662.5 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1% (2016 est.) 0.8% (2015 est.) 1.9% (2014 est.)
country comparison to the world: 176
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$59,400 (2016 est.) $59,400 (2015 est.) $59,600 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 16
[see also: GDP - per capita country ranks ]

Gross national saving:
32.3% of GDP (2016 est.) 33.2% of GDP (2015 est.) 32.2% of GDP (2014 est.)
country comparison to the world: 19
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 54%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 11.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.9%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 63.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -51.9% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 0.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 25.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 73.4% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
grains, fruits, vegetables; meat, eggs

Industries:
machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance

Industrial production growth rate:
2.1% (2016 est.)
country comparison to the world: 100
[see also: Industrial production growth rate country ranks ]

Labor force:
5.173 million (2016 est.)
country comparison to the world: 79
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 3.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 23.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 73.2% (2010)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
3.4% (2016 est.) 3.2% (2015 est.)
country comparison to the world: 27
[see also: Unemployment rate country ranks ]

Population below poverty line:
7.6% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 7.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 19% (2007)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
28.7 (2012 est.) 33.1 (1992)
country comparison to the world: 128
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $215.9 billion
[see also: Budget revenues country ranks ]
expenditures: $213.4 billion
[see also: Budget expenditures country ranks ]
note: includes federal, cantonal, and municipal budgets (2016 est.)

Taxes and other revenues:
32.6% of GDP (2016 est.)
country comparison to the world: 66
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.4% of GDP (2016 est.)
country comparison to the world: 25
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
34.1% of GDP (2016 est.) 34.4% of GDP (2015 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 Ri
country comparison to the world: 132
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.4% (2016 est.) -1.1% (2015 est.)
country comparison to the world: 17
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.5% (31 December 2010) 0.75% (31 December 2009)
country comparison to the world: 128
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
2.6% (31 December 2016 est.) 2.68% (31 December 2015 est.)
country comparison to the world: 171
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$504.9 billion (31 December 2016 est.) $508.2 billion (31 December 2015 est.)
country comparison to the world: 11
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.347 trillion (31 December 2014 est.) $1.301 trillion (31 December 2013 est.)
country comparison to the world: 14
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.108 trillion (31 December 2016 est.) $1.142 trillion (31 December 2015 est.)
country comparison to the world: 16
[see also: Stock of domestic credit country ranks ]

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
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$61.2 billion (2016 est.) $75.82 billion (2015 est.)
country comparison to the world: 8
[see also: Current account balance country ranks ]

Exports:
$301.1 billion (2016 est.) $303.5 billion (2015 est.)
note: trade data exclude trade with Switzerland
country comparison to the world: 17
[see also: Exports country ranks ]

Exports - commodities:
machinery, chemicals, metals, watches, agricultural products

Exports - partners:
Germany 14.2%, US 10.6%, Hong Kong 8.7%, India 7.3%, China 6.9%, France 6.1%, Italy 5.4%, UK 4.8% (2015)

Imports:
$243.4 billion (2016 est.) $247.7 billion (2015 est.)
country comparison to the world: 20
[see also: Imports country ranks ]

Imports - commodities:
machinery, chemicals, vehicles, metals; agricultural products, textiles

Imports - partners:
Germany 20.7%, UK 12.8%, US 8.1%, Italy 7.8%, France 6.7%, China 5.1% (2015)

Reserves of foreign exchange and gold:
$602.7 billion (31 December 2015 est.) $545.5 billion (31 December 2014 est.)
country comparison to the world: 4
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.664 trillion (31 March 2016 est.) $1.663 trillion (31 March 2015 est.)
country comparison to the world: 13
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$1.359 trillion (31 December 2016 est.) $1.262 trillion (31 December 2015 est.)
country comparison to the world: 7
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.565 trillion (31 December 2016 est.) $1.498 trillion (31 December 2015 est.)
country comparison to the world: 6
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Swiss francs (CHF) per US dollar - 0.9992 (2016 est.) 0.9627 (2015 est.) 0.9627 (2014 est.) 0.9152 (2013 est.) 0.94 (2012 est.)


NOTE: The information regarding Switzerland on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Switzerland Economy 2017 information contained here. All suggestions for corrections of any errors about Switzerland Economy 2017 should be addressed to the CIA.




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