Switzerland | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Switzerland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Switzerland economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.10 0.4 0.5 0.6 0.6 0.4 percent [+]
Unemployment Rate 3.30 3.1 3.2 3.4 3.5 3.5 percent [+]
Inflation Rate 0.40 1.2 1.7 2.2 1.9 2.3 percent [+]
Interest Rate -0.75 -0.75 -0.75 -0.5 -0.5 0.5 percent [+]
Balance of Trade 1968.25 3500 3116 2900 3073 2800 CHF million [+]
Government Debt to GDP 34.40 34.22 34.22 34.23 34.19 34.22 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 0.98 1.01 1.02 1.05 1.04 1.2 [+]
Stock Market 9061.76 8600 8520 8260 8340 6950 points [+]
Government Bond 10Y -0.10 -0.17 -0.17 -0.18 -0.18 -0.2 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.10 0.4 0.5 0.6 0.6 0.4 percent [+]
GDP Annual Growth Rate 0.60 1.7 1.9 1.9 2.1 2.4 percent [+]
GDP 670.79 680 680 680 674 715 USD Billion [+]
GDP Constant Prices 165739.44 166407 166860 167344 167837 173289 CHF Million [+]
Gross Fixed Capital Formation 40001.80 40002 39955 39978 39954 39956 CHF Million [+]
GDP per capita 75582.00 75680 75739 75798 75773 75930 USD [+]
GDP per capita PPP 56517.45 56620 56689 56759 56732 56895 USD [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 3.30 3.1 3.2 3.4 3.5 3.5 percent [+]
Employed Persons 5052.00 5072 5084 5091 5098 5155 Thousand [+]
Unemployed Persons 146008.73 143406 140502 138132 136252 129903 [+]
Productivity 98.71 98.86 98.97 98.92 98.93 98.91 Index Points [+]
Job Vacancies 11670.00 13050 14656 15838 16707 19046 [+]
Wages 6213.76 6222 6251 6279 6276 6317 CHF/Month [+]
Wages in Manufacturing 112.20 112 112 113 113 117 Index Points [+]
Population 8.33 8.28 8.3 8.33 8.33 8.64 Million [+]
Retirement Age Women 64.00 64 64 64 64 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change 0.00 0.55 0.37 0.34 0.18 0.41 percent [+]
Employment Rate 81.30 81.43 81.25 81.51 81.53 81.68 percent [+]
Full Time Employment 2860.50 2850 2866 2864 2853 2863 Thousand [+]
Non Farm Payrolls 4912.00 4912 4926 4923 4912 4942 Thousand [+]
Part Time Employment 1667.20 1677 1662 1701 1714 1744 Thousand [+]
Labor Force Participation Rate 69.50 69.53 69.58 69.61 69.65 69.66 percent [+]
Job Offers 51896.00 53555 53464 52962 53276 53491 [+]
Wage Growth 0.70 0.76 0.81 0.85 0.88 0.98 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 0.40 1.2 1.7 2.2 1.9 2.3 percent [+]
Inflation Rate Mom 0.20 0.2 0.07 0.5 0.02 0.6 percent [+]
Consumer Price Index CPI 100.86 101 101 101 101 103 Index Points [+]
Core Consumer Prices 100.50 99.78 100 99.8 100 99.83 Index Points [+]
Core Inflation Rate 0.12 0.11 0.12 0.11 0.12 0.11 percent [+]
GDP Deflator 98.30 98.22 98.17 98.09 98.04 97.49 Index Points [+]
Producer Prices 100.10 104 106 108 110 122 Index Points [+]
Producer Prices Change 0.80 2.1 2.5 2.7 3 2 percent [+]
Export Prices 98.80 98.75 98.76 98.73 98.75 98.74 Index Points [+]
Import Prices 101.48 102 102 102 102 102 Index Points [+]
Food Inflation -0.02 -0.01 0.1 0.1 0.1 0.1 percent [+]
Cpi Transportation 101.60 102 101 101 101 101 Index Points [+]
Harmonised Consumer Prices 100.31 100 99.96 100 99.99 100 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate -0.75 -0.75 -0.75 -0.5 -0.5 0.5 percent [+]
Interbank Rate -0.73 -0.72 -0.72 -0.72 -0.72 -0.72 percent [+]
Money Supply M0 555813.00 559012 558433 558517 558463 558484 CHF Million [+]
Money Supply M1 600189.00 602967 604390 604903 605220 605386 CHF Million [+]
Money Supply M2 949980.00 952578 953676 954145 954347 954498 CHF Million [+]
Money Supply M3 1002276.00 1009069 1015879 1022653 1029368 1099043 CHF Million [+]
Foreign Exchange Reserves 695943.10 706879 708255 707690 707580 707588 CHF Million [+]
Banks Balance Sheet 1975230.05 1999027 2020516 2042006 2063398 2293906 CHF Million [+]
Loans to Private Sector 1364258.00 1376573 1385296 1393874 1402298 1485555 CHF Million [+]
Deposit Interest Rate -0.18 -0.11 -0.18 -0.24 -0.24 -0.17 percent [+]
Central Bank Balance Sheet 763216.24 763179 761947 762169 762251 762273 CHF Million [+]
Private Debt to GDP 211.00 209 209 210 210 206 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 1968.25 3500 3116 2900 3073 2800 CHF million [+]
Exports 16149.39 17705 17492 17656 17711 17665 CHF million [+]
Imports 14181.14 14655 14542 14617 14561 14573 CHF million [+]
Current Account 22022.94 22545 19750 22300 19837 22217 CHF Million [+]
Current Account to GDP 11.00 12.26 12.85 13.43 12.66 10.78 percent [+]
External Debt 1721336.40 1678596 1704161 1696302 1685981 1693993 CHF Million [+]
Terms of Trade 110.48 112 112 112 112 112 Index Points [+]
Capital Flows 18026.84 17412 19301 15119 14102 15002 CHF Million [+]
Foreign Direct Investment 833192.60 855259 868391 881524 892279 1090497 CHF Million [+]
Tourist Arrivals 1406.00 1293 1267 1330 1299 1306 Thousand [+]
Gold Reserves 1039.99 1040 1040 1040 1040 1039 Tonnes [+]
Terrorism Index 0.29 0.65 0.53 0.41 0.53 0.84 [+]
Tourism Revenues 3447.52 3841 4578 3454 3784 3477 CHF Million [+]
Weapons Sales 369.00 312 315 319 319 334 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 34.40 34.22 34.22 34.23 34.19 34.22 percent [+]
Government Budget 0.00 0.16 0.15 0.14 0.14 -0.04 percent of GDP [+]
Government Budget Value 1323.00 1573 1573 1573 226 -590 CHF Million [+]
Government Spending 18297.50 18429 18478 18538 18599 19259 CHF Million [+]
Government Spending to GDP 33.90 33.63 33.66 33.68 33.7 33.77 percent [+]
Government Revenues 219259.00 222235 222235 222235 223736 231501 CHF Million [+]
Government Debt 226607.00 226036 226036 226036 227679 229793 CHF Million [+]
Fiscal Expenditure 217426.00 219987 219987 219987 219169 222646 CHF Million [+]
Asylum Applications 1380.00 1896 2197 2252 2203 2160 persons [+]
Military Expenditure 5065.00 4810 4849 4889 4942 5024 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 106.00 104 106 105 106 101 [+]
Manufacturing PMI 57.40 57.74 57.94 58.02 58.05 58.08 [+]
Industrial Production -1.30 0.82 -1.2 0.34 -0.2 -0.32 percent [+]
Manufacturing Production -0.50 2.14 0.13 1.92 1.08 1.19 percent [+]
Capacity Utilization 81.23 79.74 81.86 81.8 82.24 81.88 percent [+]
Factory Orders -4.60 -9.11 -12.24 -9.13 -9.46 -6.47 percent [+]
Changes in Inventories -2241.70 -1885 -1958 -2062 -2043 -1988 CHF Million [+]
Bankruptcies 12927.00 12954 12619 12284 12377 12283 companies and individuals [+]
Car Registrations 26.52 26.73 26.66 26.67 26.67 26.67 Thousand [+]
Competitiveness Index 5.81 5.74 5.74 5.74 5.8 5.77 Points [+]
Competitiveness Rank 1.00 1 1 1 1 1 [+]
Ease of Doing Business 31.00 31 32 32 32 35 [+]
Corruption Index 86.00 86 86 85 85 86 Points [+]
Corruption Rank 5.00 6 6 6 5 5 [+]
Mining Production -3.60 1.24 0.37 0.73 1.83 0.39 percent [+]
Zew Economic Sentiment Index 22.20 16.6 23.3 17.8 23.31 10.1 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence -8.00 1 -6 -2 -6.98 -2 [+]
Retail Sales MoM 0.70 0.14 0.12 0.04 0.03 0.03 percent [+]
Retail Sales YoY 2.10 1.01 1.04 1.1 1.15 1.32 percent [+]
Consumer Spending 91077.30 91557 91980 92225 92521 95418 CHF Million [+]
Personal Savings 13.70 13.85 13.49 13.13 13.11 13.68 percent [+]
Consumer Credit 829625.00 838847 845691 852513 859310 932442 CHF Million [+]
Gasoline Prices 1.41 1.41 1.41 1.41 1.41 1.41 USD/Liter [+]
Households Debt To Gdp 128.20 129 130 130 130 130 percent of GDP [+]
Households Debt To Income 178.57 176 178 180 179 176 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Housing Index 461.76 464 466 469 471 482 Index Points [+]
Construction Output -1.40 1.51 0.14 0.88 1.27 1.06 percent [+]
Home Ownership Rate 43.40 44.08 44.07 44.06 44.07 44.09 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 17.92 18.13 18.17 18.22 18.31 19.89 percent [+]
Personal Income Tax Rate 40.00 40 40 40 40 40 percent [+]
Sales Tax Rate 8.00 8 8 8 8 8 percent [+]
Social Security Rate 12.50 12.91 12.91 12.91 13 13.92 percent [+]
Social Security Rate For Companies 6.25 6.68 6.68 6.68 6.78 7.78 percent [+]
Social Security Rate For Employees 6.25 6.25 6.25 6.25 6.25 6.25 percent [+]