Switzerland Economic Forecast

Switzerland Economic Outlook

October 27, 2020

The economy appeared to recover robustly in Q3 from Q2’s downturn as restrictions on activity at home were lifted. The KOF Economic Barometer hit a ten-year high in September amid positive signs from the manufacturing and hospitality sectors. Moreover, both the manufacturing and services PMIs rose throughout the quarter, and retail sales were solid in July and August. However, the recovery could be slowing heading into Q4. External demand is likely suffering from fresh lockdown measures abroad, and the federal government limited public gatherings in mid-October amid a surge in new Covid-19 cases. Moreover, although domestic restrictions remain laxer than in many European neighbors, stricter measures could be on the way, while the second wave of cases could dampen consumer confidence and domestic demand.

Switzerland Economic Growth

Following a likely sharp contraction in 2020, the economy is set to expand strongly next year as external demand recovers. However, the uncertain evolution of the virus and tense relations with the EU due to disagreements over the renegotiation of the trading relationship pose downside risks. FocusEconomics Consensus Forecast panelists expect the economy to expand 4.0% in 2021, which is down 0.3 percentage points from last month’s forecast. In 2022, the panel expects GDP to expand 2.6%.

Switzerland Economy Data

2015 2016 2017 2018 2019
Population (million)8.28.38.48.58.5
GDP per capita (USD)82,47980,64180,77883,09782,311
GDP (USD bn)679671680705703
Economic Growth (GDP, annual variation in %)1.31.71.82.81.0
Domestic Demand (annual variation in %)2.20.81.80.80.0
Consumption (annual variation in %)1.71.41.21.01.2
Investment (annual variation in %)2.32.53.41.10.8
Exports (G&S, annual variation in %)2.66.3-0.22.90.5
Imports (G&S, annual variation in %)4.55.7-0.6-0.3-1.1
Industrial Production (annual variation in %)-2.00.15.25.44.4
Retail Sales (annual variation in %)-1.3-2.00.10.00.4
Unemployment Rate3.23.33.12.62.3
Fiscal Balance (% of GDP)0.60.31.2-  -  
Public Debt (% of GDP)30.028.929.3-  -  
Money (annual variation in %)1.43.94.03.50.1
Inflation Rate (CPI, annual variation in %, eop)-1.30.00.80.70.2
Inflation Rate (CPI, annual variation in %)-1.1-0.40.50.90.4
Inflation (PPI, annual variation in %)-3.7-1.30.01.3-0.8
Policy Interest Rate (%)-0.75-0.75-0.75-0.75-0.75
Stock Market (annual variation in %)-1.8-6.814.1-10.226.0
Exchange Rate (vs EUR)1.091.071.171.131.09
Exchange Rate (vs EUR, aop)1.071.091.111.161.11
Current Account (% of GDP)11.39.96.48.212.2
Current Account Balance (USD bn)77.066.243.357.686.1
Trade Balance (USD billion)36.832.829.731.236.1

Sample Report

5 years of Switzerland economic forecasts for more than 30 economic indicators.

Download

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Switzerland Facts

Value Change Date
Bond Yield-0.516.27 %Jan 01
Exchange Rate0.97-0.54 %Jan 01

Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Switzerland Economic News

Search form