Switzerland GDP Growth Rate

The Gross Domestic Product (GDP) in Switzerland expanded 0.50 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Switzerland averaged 0.43 Percent from 1980 until 2014, reaching an all time high of 1.90 Percent in the second quarter of 1989 and a record low of -2.20 Percent in the fourth quarter of 2008. GDP Growth Rate in Switzerland is reported by the State Secretariat for Economic Affairs.


Switzerland GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.20 1.90 -2.20 1980 - 2014 Percent Quarterly
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.

Swiss GDP Growth Accelerates Slightly in Q1

The Swiss economy advanced 0.5 percent quarter-on-quarter in the first three months of 2014, up from a 0.2 percent expansion in the previous period and boosted by exports and construction investment.

Household consumption expenditure and that of non-profit organizations increased by 0.1 percent. In particular, consumption expenditures linked to housing and transport services delivered negative contributions. General government and social security consumption expenditure was lower in the 1st quarter 2014, down by 0.8 percent compared with the previous quarter.  

Gross fixed investments rose by 0.5 percent. After a lengthy period of subdued development, investments in equipment contracted again (-1.5 percent), driven by weak investment across many sectors, with the exception of the “data processing equipment, electronic and optical product manufacturing” and “IT services” sectors, where an increase was registered. By contrast, investments in construction which benefitted from the mild winter, made a strong, positive contribution to growth (as they did in the previous two quarters), posting a rise of 2.7 percent.

Exports of goods (excluding precious metals, jewelry and gems as well as works of art and antiques) increased by 2.0 percent. This increase was driven in particular by exports of chemical/pharmaceutical products and vehicles. The remaining categories, such as machinery/electronics and precision instruments/watches/jewellery amongst others, reported a slight decrease. Exports of services (includes tourism) reported an increase (1.3 percent). Imports of goods (excluding precious metals, jewellery and gems as well as works of art and antiques) fell 0.8 percent. 

On the production side the manufacturing industry, the wholesale sector and financial services delivered the strongest, positive contributions to GDP growth in the first quarter of 2014. By contrast, the sectors “energy and water supply”, “Accommodation and food service activities”, “Real estate activities, professional, scientific and technical activities” as well as “public administration” all posted a reduction in their value added.

Year-on-year, the economy advanced at a faster 2 percent, after growing 1.7 percent in the previous quarter.

SECO | Joana Taborda | joana.taborda@tradingeconomics.com
5/28/2014 9:34:57 AM

Recent Releases

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. Published on 2014-02-27

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

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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%
2014-05-28 06:45 AM Switzerland
GDP Growth Rate QoQ
Q1 2014 0.5% 0.2% 0.6% 0.47%
2014-09-02 06:45 AM Switzerland
GDP Growth Rate QoQ
Q2 2014 0.5% 0.32%

GDP Last Previous Highest Lowest Unit
GDP 650.78 631.18 658.87 9.50 USD Billion [+]
GDP Growth Rate 0.50 0.20 1.90 -2.20 Percent [+]
GDP Annual Growth Rate 2.00 1.70 7.30 -3.70 Percent [+]
GDP Constant Prices 141011.90 140366.80 141011.90 79948.80 CHF Million [+]
GDP per capita 55485.60 54995.91 55485.60 18970.15 USD [+]
Gross Fixed Capital Formation 30118.10 29976.20 30118.10 15478.20 CHF Million [+]
GDP per capita PPP 39344.14 39384.69 39566.84 29110.94 USD [+]

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