Current Account in Switzerland

Switzerland Current Account | Economic News & Forecasts

Switzerland - Current Account

The economy floundered in Q3 due to falling exports and weaker domestic growth, while Q4 data has thus far been mixed. The KOF economic barometer fell again in November and the unemployment rate inched up in the same month. Nevertheless, retail sales rebounded in October and the manufacturing PMI recovered in November. Meanwhile, lengthy negotiations with the EU over an institutional framework agreement, to closer align Swiss law with EU regulations, have become more contentious in recent weeks. On 7 December the Federal Council refused to approve the draft agreement, and instead vied to hold a public consultation over key objections, particularly over concerns that it would infringe upon Switzerland’s sovereignty and erode wages. In turn, the EU had previously threatened to let the Swiss stock exchange equivalence—which allows for cross-border trading—expire in January if lawmakers rejected the treaty but has recently extended the deadline to mid-2019. Failure to reach an agreement could result in the loss of substantial trading activity, which would deal a blow to the Alpine economy.

Switzerland - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)11.4  8.2  10.6  9.3  9.5  

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Switzerland Current Account Chart


Switzerland Current Account
Note: Current account balance as % of GDP.
Source: Swiss National Bank and FocusEconomics calculations.

Switzerland Facts

ValueChangeDate
Bond Yield-0.236.27 %Jan 16
Exchange Rate0.99-0.54 %Jan 16
Stock Market8,874-0.82 %Jan 16

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