Switzerland GDP Growth Rate

The Gross Domestic Product (GDP) in Switzerland expanded 0.20 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Switzerland is reported by the State Secretariat for Economic Affairs. GDP Growth Rate in Switzerland averaged 0.42 Percent from 1980 until 2013, reaching an all time high of 1.90 Percent in the fourth quarter of 1999 and a record low of -2.20 Percent in the fourth quarter 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 provides - Switzerland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.20 0.50 1.90 -2.20 0.47 | 2014/03 1980 - 2013 Percent Quarterly

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Switzerland GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-30 06:45 AM Switzerland
GDP Growth Rate QoQ
Q1 2013 0.6% 0.3% (R) 0.2% 0.20%
2013-09-03 06:45 AM Switzerland
GDP Growth Rate QoQ
Q2 2013 0.5% 0.6% 0.3% 0.55%
2013-11-28 06:45 AM Switzerland
GDP Growth Rate QoQ
Q3 2013 0.5% 0.5% 0.4% 0.37%
2014-02-27 06:45 AM Switzerland
GDP Growth Rate QoQ
Q4 2013 0.2% 0.5% 0.4% 0.56%
2014-05-27 06:45 AM Switzerland
GDP Growth Rate QoQ
Q1 2014 0.2% 0.47%
2014-09-02 06:45 AM Switzerland
GDP Growth Rate QoQ
Q2 2014 0.34%
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GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 55066.12 2012-12-31 55122.88 55377.82 18970.15 55072.58 2013-12-31 USD [+]
GDP per capita PPP 39344.14 2012-12-31 39384.69 39566.84 29110.94 39379.97 2013-12-31 USD [+]
GDP Constant Prices 140314.80 2013-11-15 140092.00 140314.80 79948.80 141187.11 2014-03-31 CHF Million [+]
Gross Fixed Capital Formation 29869.30 2013-11-15 29425.10 29869.30 15478.20 30024.09 2014-03-31 CHF Million [+]
GDP Growth Rate 0.20 2013-12-31 0.50 1.90 -2.20 0.47 2014-03-31 Percent [+]
GDP Annual Growth Rate 1.70 2013-12-31 2.10 7.30 -3.70 2.49 2014-03-31 Percent [+]
GDP 632.20 2012-12-31 659.30 659.30 9.50 663.59 2013-12-31 USD Billion [+]
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Swiss GDP Growth Slows in Q4

In the fourth quarter of 2013, Switzerland’s economic growth slowed to 0.2 percent over the previous three-month period, the lowest rate in six quarters, hurt by a fall in exports due to weak global demand for chemical and pharmaceutical products.

Household consumption expenditure increased by 0.7 percent. General government and social security consumption expenditure reported growth of 0.6 percent.

Gross fixed investments rose by 1.5 percent in the 4th quarter of 2013. Investments in equipment as well as investments in construction grew by 1.5 percent respectively. The strong rise in investments in equipment was mainly driven by the subsector “vehicles”. However, investments in IT services and machinery also reported positive growth rates.

Following a marked increase in the 3rd quarter, exports of goods decreased by 1.7 percent, mainly due to a decrease in chemical and pharmaceutical products, whilst the other categories remained almost unchanged. By contrast, imports of goods rose by 1.4 percent in the 4th quarter. 

In the services sector, tourism exports increased by 0.4 percent in the 4th quarter 2013. Imports of tourism services (spending on tourism abroad) also increased in the 4th quarter (+1.0 percent). 

On the production side most of the categories reported a small increase in value-added, with the domestic-orientated sectors such as construction, healthcare and wholesale performing significantly better than the export-orientated sectors such as, in particular, industry but also financial services.

Compared with the same period of 2012, the economy expanded 1.7 percent, down from a revised 2.1 percent in the third quarter. 

Considering full 2013, the GDP advanced 2 percent.

SECO | Joana Taborda | joana.taborda@tradingeconomics.com
2/27/2014 11:10:09 AM

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Swiss Economy Expands 0.5% QoQ in Q3
In the third quarter of 2013, Switzerland’s GDP growth was reported at 0.5 percent quarter-on-quarter, the same rate recorded in the previous three-month period. The growth was mainly driven by accelerating exports of goods and government spending. Published on 2013-11-28

Swiss Economy Expands 0.5% in Q2
In the second quarter, Switzerland's GDP rose by 0.5 percent, above expectations, adding to signs of recovery as private consumption rebounded and investment on machinery increased for the first time in a year. Published on 2013-09-03


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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