Switzerland GDP Growth Rate

The Gross Domestic Product (GDP) in Switzerland expanded 0.20 percent in the fourth quarter of 2012 over the previous quarter. GDP Growth Rate in Switzerland is reported by the State Secretariat for Economic Affairs. Historically, from 1980 until 2012, Switzerland GDP Growth Rate averaged 0.42 Percent reaching an all time high of 1.90 Percent in June of 1989 and a record low of -2.20 Percent in December of 2008. Switzerland's economy has low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Its policy of long-term monetary security and bank secrecy has made Switzerland a safe haven for investors, creating an economy that is increasingly dependent on a steady tide of foreign investment. Because of the country's small size and high labor specialization, industry and trade are the keys to Switzerland's economic livelihood. This page includes a chart with historical data for Switzerland GDP Growth Rate.

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Switzerland GDP Growth Rate
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Switzerland Economy Expands 0.2 Percent in Q4
SECO | Nuno Fontes | nuno@tradingeconomics.com  |  2/28/2013 11:08:39 AM


Switzerland’s real gross domestic product grew in the 4th quarter 2012 by 0.2 percent compared to the 3rd quarter. Positive contributions to growth came primarily from private and public consumption. Gross fixed investments contributed positively but marginally to GDP growth. However, net exports of goods and services delivered a negative contribution to GDP growth in the 4th quarter.

Value added on the production side increased in a number of service related sectors; particularly in the areas of trade, transport, information and communication, the delivery of financial services as well as in healthcare and social services. By contrast, the value added in the industry sector declined. Compared with the 4th quarter 2011, Swiss GDP grew by 1.4 percent.

Private consumption increased in the 4th quarter 2012 by 1.1 percent over the previous quarter. This strong growth is primarily driven by two categories: there was a very distinctive increase in spending on health and the category of miscellaneous goods and services, which comprises two thirds financial services and insurances, reported a higher than average rise. General government consumption also increased markedly by 1.1 percent.
 
The export of goods (excluding precious metals, jewellery and gems as well as works of art and antiques) decreased by 2.1 percent in the 4th quarter 2012. Chemicals and related products, which had previously reported strong growth, reported a fall in export volumes. Many other categories continued their stagnating or declining trend (e.g. exports by the machine, metal and textile manufacturing industries). By contrast, exports of precision instruments and watches delivered a positive contribution during the last quarter of 2012. The import of goods experienced a decline.
 
On the production side there was an increase in value-added particularly for the services sectors. The following production areas contributed positively to the GDP growth: trade, transport, information and communication, delivery of financial services, healthcare and social services as well as the public administration. By contrast, a decline in the value-added in the manufacturing industry, energy and water supplies, waste management, as well as in real estate activities. 
 
From the results of the quarterly national accounts, a provisional GDP growth rate over the whole year 2012 of 1.0 percent at constant prices and of 1.1 percent at current prices can be derived.

 

ARCHIVE
Swiss Gross Domestic Product up by 0.6% in Q3 The real gross domestic product (GDP) for Switzerland increased in the third quarter 2012 by 0.6% compared with the second quarter of 2012 with private and public consumption and the balance of trade in goods contributing towards the growth. 2012-12-11
Swiss GDP Growth Slows to 0.4% In Q2 Swiss gross domestic product grew 0.4% quarter-on-quarter in the second quarter following a revised 0.6 % rise in the first three months of 2011, data from the State Secretariat for Economic Affairs, showed on September 1. 2011-09-01
Swiss Economy Contracts 0.1% in Q2 Swiss economy contracted for the first time in nine months, falling 0.1 percent compared with the first quarter as the impact of the euro zone crisis weighed on the country's exports. 2012-09-04
Swiss GDP Rises 0.3% in Q1 The real gross domestic product (GDP) for Switzerland grew in the first quarter of 2011 by 0.3% compared to the fourth quarter of 2010. Positive growth was generated by the trade balance, construction, investment, and to a lesser extent by private consumption. GDP growth was 2.4% compared to the first quarter of the previous year. 2011-05-31
Swiss Economy Expands 0.7% in Q The real gross domestic product (GDP) for Switzerland grew in the 1st quarter of 2012 by 0.7% compared with the 4th quarter 2011. 2012-06-03
Swiss Economy Expands 0.9% in Q4 The real gross domestic product (GDP) for Switzerland grew in the fourth quarter of 2010 by 0.9% over the third quarter. Positive growth came from investments, the trade balance for goods as well as from private consumption. 2011-03-01
Swiss Economy Expands In Q4 The Swiss economy unexpectedly expanded in the fourth quarter, bolstered by strong private consumption, foreign trade and gross fixed investments. 2012-03-01
Swiss GDP Grows 0.7% in the Third Quarter Swiss economic growth slowed less than economists forecast in the third quarter as consumers stepped up spending, helping counter a drop in exports. 2010-12-02
Swiss GDP Growth Slows to 0.2% in Q3 Switzerland’s economy grew at the slowest pace in more than two years in the third quarter as companies cut spending and exports slumped. 2011-12-01



GDP Growth Rate | Notes

The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.






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