Economy Of Switzerland
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Economy overview
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Switzerland is a prosperous and stable modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP larger than that of the big Western European economies. The Swiss in recent years have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness. Switzerland remains a safe haven for investors, because it has maintained a degree of bank secrecy and has kept up the franc's long-term external value. Reflecting the anemic economic conditions of Europe, GDP growth dropped in 2001 to about 0.8%, to 0.2% in 2002, and to -0.3% in 2003.
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GDP
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purchasing power parity - $239.3 billion (2004 est.)
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GDP - real growth rate
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-0.5% (2004 est.)
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GDP - per capita
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purchasing power parity - $32,700 (2004 est.)
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GDP - composition by sector
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agriculture: 1.5%
industry: 34%
services: 64.5% (2003 est.)
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Investment gross fixed
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20.1% of GDP (2004 est.)
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Population below poverty line
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NA
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Household income or consumption by percentage share
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lowest 10%: 2.6%
highest 10%: 25.2% (1992)
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Distribution of family income - Gini index
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33.1 (1992)
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Inflation rate consumer prices
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0.6% (2004 est.)
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Labor force
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3.72 million (2004 est.)
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Labor force by occupation
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agriculture 4.6%, industry 26.3%, services 69.1% (1998)
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Unemployment rate
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3.7% (2004 est.)
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Budget
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revenues: $123.2 billion
expenditures: $128 billion, including capital expenditures of NA (2004 est.)
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Public debt
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57.1% of GDP (2004 est.)
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Agriculture products
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grains, fruits, vegetables; meat, eggs
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Industries
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machinery, chemicals, watches, textiles, precision instruments
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Industrial production growth rate
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0.4% (2004 est.)
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Electricity production
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68.68 billion kWh (2001)
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Electricity production by source
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fossil fuel: 1.3%
hydro: 59.5%
other: 2% (2001)
nuclear: 37.1%
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Electricity consumption
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53.43 billion kWh (2001)
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Electricity exports
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34.54 billion kWh (2001)
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Electricity imports
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24.1 billion kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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290,400 bbl/day (2001 est.)
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Oil exports
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10,420 bbl/day (2001)
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Oil imports
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289,500 bbl/day (2001)
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Oil proved reserves
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Natural gas production
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0 cu m (2001 est.)
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Natural gas consumption
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3.093 billion cu m (2001 est.)
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Natural gas exports
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0 cu m (2001 est.)
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Natural gas imports
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3.093 billion cu m (2001 est.)
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Natural gas proved reserves
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Current account balance
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$36 billion (2004 est.)
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Exports
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$110 billion f.o.b. (2004 est.)
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Exports commodities
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machinery, chemicals, metals, watches, agricultural products
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Exports partners
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Germany 20.8%, US 11.3%, France 8.7%, Italy 8.3%, UK 4.9%, Japan 4% (2003)
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Imports
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$102.2 billion f.o.b. (2003 est.)
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Imports commodities
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machinery, chemicals, vehicles, metals; agricultural products, textiles
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Imports partners
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Germany 32.3%, France 10.8%, Italy 10.7%, US 5.5%, Netherlands 5%, Austria 4.2%, UK 4.1% (2003)
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Reserves of foreign exchange gold
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$69.58 billion (2003)
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Debt external
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NA (2000)
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Economic aid recipient
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Currency
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Swiss franc (CHF)
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Currency code
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CHF
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Exchange rates
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Swiss francs per US dollar - 1.3467 (2003), 1.5586 (2002), 1.6876 (2001), 1.6888 (2000), 1.5022 (1999)
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Fiscal year
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calendar year
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This information was reproduced in part from the CIA World Fact book.
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