| Economy | Switzerland |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
Switzerland is a peaceful, 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 all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy recovered in 2010 with 2.7% growth. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safehaven currency. 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 competitve and weakened the country's growth outlook; GDP fell to 1.4% in 2011. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and in 2011 it reached deals with Germany and the UK to resolve outstanding issues, particularly the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy. |
GDP (purchasing power parity):
|
$340.5 billion (2011 est.)
$333.2 billion (2010 est.)
$324.5 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$43,400 (2011 est.)
$42,800 (2010 est.)
$41,900 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$665.9 billion (2011 est.) |
GDP - real growth rate:
|
2.1% (2011 est.)
2.7% (2010 est.)
-1.9% (2009 est.) |
GDP - composition by sector:
|
agriculture: 1.2%
industry: 27.5%
services: 71.3% (2011 est.) |
Investment (gross fixed):
|
21.1% of GDP (2011 est.) |
Population below poverty line:
|
6.9% (2010) |
Household income or consumption by percentage share:
|
lowest 10%: 7.5%
highest 10%: 19% (2007) |
Distribution of family income - Gini index:
|
33.7 (2008)
33.1 (1992) |
Inflation rate (consumer prices):
|
0.4% (2011 est.)
0.7% (2010 est.) |
Central bank discount rate:
|
0.5% (31 December 2010 est.)
0.75% (31 December 2009 est.) |
Commercial bank prime lending rate:
|
2.7% (31 December 2011 est.)
2.733% (31 December 2010 est.) |
Stock of money:
|
$275.5 billion (31 December 2008 est.)
$213.9 billion (31 December 2007 est.) |
Stock of money - per capita:
|
36,061 USD per capita |
Stock of quasi money:
|
$454.2 billion (31 December 2008 est.)
$450.7 billion (31 December 2007) |
Stock of quasi money - per capita:
|
59,451 USD per capita |
Stock of domestic credit:
|
$1.213 trillion (31 December 2011 est.)
$1.119 trillion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
158,771 USD per capita |
Stock of narrow money:
|
$500.4 billion (31 December 2011 est.)
$452.6 billion (31 December 2010 est.) |
Stock of broad money:
|
$1.095 trillion (31 December 2011 est.)
$982.6 billion (31 December 2010 est.) |
Labor force:
|
4.27 million (2011 est.) |
Labor force participation rate:
|
55.89 % of population |
Labor force - by occupation:
|
agriculture: 3.4%
industry: 23.4%
services: 73.2% (2010) |
Unemployment rate:
|
3.1% (2011 est.)
3.9% (2010 est.) |
Unemployment, youth ages 15-24:
|
total: 8.2%
male: 7.7%
female: 8.7% (2009) |
Budget:
|
revenues: $222 billion
expenditures: $216.8 billion
note: includes federal, cantonal, and municipal accounts (2011 est.) |
Budget revenues per capita:
|
29,058 USD per capita |
Taxes and other revenues:
|
33.3% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
0.8% of GDP (2011 est.) |
Public debt:
|
52.4% of GDP (2011 est.)
54.5% of GDP (2010)
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 SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable; all liabilities in the GFSM 2001 system are debt, except for equity nad investment fund shares and financcial derivatives and employee stock options |
Industries:
|
machinery, chemicals, watches, textiles, precision instruments, tourism, banking, and insurance |
Industrial production growth rate:
|
2% (2011 est.) |
Electricity - production:
|
64.08 billion kWh (2009 est.) |
Electricity - production per capita:
|
8,388 kWh per capita |
Electricity - consumption:
|
57.5 billion kWh (2009) |
Electricity - consumption - per capita:
|
7,527 kWh per capita |
Electricity - exports:
|
33.53 billion kWh (2009 est.) |
Electricity - imports:
|
2.157 billion kWh (2009 est.) |
Oil - production:
|
3,488 bbl/day (2010 est.) |
Oil - production per capita:
|
457 bbl/day per capita |
Oil - consumption:
|
242,700 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
11.60 bbl/year per capita |
Oil - exports:
|
9,851 bbl/day (2009 est.) |
Oil - imports:
|
272,700 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2010 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
3.625 billion cu m (2010 est.) |
Natural gas - consumption - per capita:
|
475 cu m per capita |
Natural gas - exports:
|
0 cu m (2010 est.) |
Natural gas - imports:
|
3.625 billion cu m (2010 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2009 est.) |
Agriculture - products:
|
grains, fruits, vegetables; meat, eggs |
Current account balance:
|
$76.7 billion (2011 est.)
$76.9 billion (2010 est.) |
Current account balance - per capita:
|
10,040 USD per capita |
Exports:
|
$308.3 billion (2011 est.)
$258.5 billion (2010 est.) |
Exports per capita:
|
40,354 USD per capita |
Exports - commodities:
|
machinery, chemicals, metals, watches, agricultural products |
Exports - partners:
|
Germany 19.2%, US 10.2%, Italy 7.9%, France 7.7%, UK 5.9% (2010) |
Imports:
|
$299.6 billion (2011 est.)
$246.2 billion (2010 est.) |
Imports per capita:
|
39,215 USD per capita |
Imports - commodities:
|
machinery, chemicals, vehicles, metals; agricultural products, textiles |
Imports - partners:
|
Germany 32%, Italy 10.2%, France 8.5%, US 5.3%, Netherlands 4.5%, Austria 4.3% (2010) |
Reserves of foreign exchange and gold:
|
$270.3 billion (31 December 2010 est.)
$135.3 billion (31 December 2009 est.) |
Reserves of foreign exchange and gold - per capita:
|
35,380 USD per capita |
Debt - external:
|
$1.346 trillion (30 June 2011)
$1.2 trillion (30 September 2010) |
Debt - external - per capita:
|
176,179 USD per capita |
Stock of direct foreign investment - at home:
|
$580.2 billion (31 December 2011 est.)
$576.2 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
|
75,943 USD per capita |
Stock of direct foreign investment - abroad:
|
$937.8 billion (31 December 2011 est.)
$911.5 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
|
122,750 USD per capita |
Market value of publicly traded shares:
|
$1.229 trillion (31 December 2010)
$1.071 trillion (31 December 2009)
$862.7 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
|
160,865 USD per capita |
Currency (code):
|
Swiss franc (CHF) |
Exchange rates:
|
Swiss francs (CHF) per US dollar -
0.8723 (2011 est.)
1.0429 (2010 est.)
1.0881 (2009)
1.0774 (2008)
1.1973 (2007) |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
