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2019/10/20 18:59:03

Economy of Switzerland

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Content

Main article: Switzerland

GDP

2022

GDP estimate - $0.8 trillion

GDP countries around the world in 2022 according to IMF estimates

GDP size forecast - $0.84 trillion

Countries in terms of GDP in 2022, according to the IMF forecast for the middle of the year

2021

GDP size - $0.81 trillion

GDP countries in the world in 2021 according to the estimates of the International Monetary Fund (IMF)
Countries by GDP in 2021, billion dollars

Agriculture's share of GDP is less than 2%

Data for 2021

2018: Switzerland's share of nominal GDP in the global economy

Share of countries by nominal GDP in the global economy in 2018

Debt

Non-financial debt

2022: Aggregate non-financial debt

Source: Spydell Finance, November 2022
Comparison of the 1 quarter of 2022 and the second quarter of 2008
Non-financial debt from September 2004 to March 2022

National debt

2023: State debt - 39% of GDP

Data for September 2023

2017: State debt - 42% of GDP

The ratio of public debt to the country's GDP, 2017

Gold and foreign exchange reserves

2022: Third in reserves in the world - $924 billion

At the end of 2022, China's reserves amounted to $3.31 trillion, Japan took second place with accumulations of $1.27 trillion, Switzerland - third with assets of $924 billion. Russia finished the year in fourth place with $582 billion. India is fifth, its reserves reach $563 billion.

Sovereign Wealth Fund

As of 2022

Currency: Swiss franc (CHF)

2023: Currency weakness as Credit Suisse bank collapses

The Swiss franc has been hit hard by the banking crisis and the collapse of Credit Suisse. CNBC writes that the demise of Credit Suisse sent shockwaves through financial markets and hit Switzerland's reputation as a stable country.

An executive said investors would now look to the mountainous central European country as a "financial banana republic."

Banking system

Key rate

On September 22, 2022, the National Bank of Switzerland raised rates by 75 bp to 0.5%, with inflation of 3.5%.

On June 16, 2022, the Swiss National Bank raised interest rates for the first time since 2007, responding to rising inflation, which officials say could spiral out of control.

He raised the interest rate by 50 bp to -0.25%.

Central Bank Interest Rates in Europe, July 2020

2023: Swiss bank secrecy fades

Screen companies could be next. As part of the fight against money laundering, the government is drafting a bill in December 2023 that would force firms to announce their true owners and lawyers to report suspicious transactions.

Around 33,000 shell companies are based in Switzerland, according to a 2021 study by NGO Public Eye, according to the latest count. It is estimated that there is 1 shell company in Geneva for every 37 citizens.

2022: Banks take real estate from Russians against the background of the special operation of the Russian Federation in Ukraine

In April 2022, Swiss banks, against the backdrop of a special operation by Russia in Ukraine, began to take property from Russians who bought it on a mortgage. The bank refuses to accept payments on it due to the fact that the money came from Russia, although there were no sanctions. Next, the bank defaults on the mortgage and puts the property up for sale.

Swiss bankers are especially distinguished by the tendency to change the rules of the game after opening an account and making a deposit.

They often set deliberately impossible conditions, for example:

  • demand to bring a legal opinion of a local law firm that the client fully complies with all Russian rules in relation to the offshore company to which the invoice is drawn up;

  • or asking with a smile to increase the deposit amount to, say, $5 million and give the bank an investment mandate. This would ostensibly allow more scrutiny of the client's arguments that the money is of legitimate origin.

2019: $2.4 trillion in accounts of foreign individuals

Countries with the largest number of accounts of foreign individuals in 2019

Inflation/Deflation

2023: Down to 2.6% in April

2022

Inflation in July - 3.4%

July
Инфляция в странах Europe 2022
UK data - June, July inflation - 10.1%

Inflation rise in June to 3.4% or a 29-year high

Switzerland Inflation in reached 3.4% in June 2022 or a 29-year high.

2020

Stock market

2024: Swiss Issuers Capitalization 249% of GDP

According to data available for March 2024

Labour market

2022: Proportion of workers aged 65 or over - above 10%

Data for 2022

Unemployment

2022: Unemployment rate - 4.3%

Безработица в countries EU and Britain for July 2022

2020: Unemployment rate - 3.2%

Countries around the world in terms of unemployment in 2020

Incomes of the population

2022: A 0.02% decline in real income per worker in the third quarter

in
Снижение реальных доходов на работника в некоторых countries Q3 2022 amid conflict in Ukraine

Power

2022: Rise in electricity prices due to pressure on Russia

Динамика роста цен на electric power from August 1, 2021 to August 1, 2022 in countries Europe

2020: Energy consumption per capita

and
Energy consumption per capita, including electricity, transport heating in 2019-2020

Industry

2021:240 robots per 10,000 employees

List of countries with the highest density of robots per 10 thousand workers in the field of industrial production

Foreign trade

Swiss watch exports

Main article: Swiss watch exports

2023: Rise of gold exports to Turkey

Swiss gold exports to Turkey reached their highest level in 11 years in January 2023.

More than 58 tonnes of gold were shipped to Turkey in January, according to Swiss customs. This is the highest volume since January 2012 and 42% of Swiss gold exports.

2022

The United States is the largest export destination

According to data available for August 2023.

Growth in drug exports to Russia by 40% to $2.3 billion - a record for 30 years

The scale of exports to Russia of non-sanctioned types of Swiss pharmaceuticals products reached its 30-year maximum in 2022.

Concerns Roche, Novartis and other Swiss pharmaceutical companies made a profit of 2.1 billion Swiss francs ($2.3 billion) from drug exports to Russia in 2022. Sales increased by 40% in Swissinfo.

Take-off of arms and ammunition exports up to $1 billion

Switzerland's arms and ammunition exports rose by nearly a third in 2022, though manufacturers complain that the country's long-standing neutrality puts them in a difficult position.

Gun sales rose to $1bn; The Middle East is among the main buyers.

Industry argues that due to restrictions on neutrality, it is deprived of business.

According to political experts, if one of NATO members became a participant in the conflict in Ukraine, Swiss arms manufacturers would have to immediately stop deliveries to all NATO countries.

2019: Computer Device Exports

The volume of exports of computer devices in countries of the world, 2019

Alcohol market

Minimum age to purchase alcoholic beverages

Data for 2018

Consumption

Tea

2018: Per capita tea consumption per kg per year

Потребление tea per capita, population kg per year. Data for 2018

Milk

2018: Milk consumption in litres per year per person

Milk consumption in liters per year per person. Data at the end of 2018

Meat

2023: Pork is the most consumed type of meat

The most consumed type of meat (including fish and seafood) according to data available for June 2023.

2019: Pork is the most consumed type of meat

The most consumed type of meat at the end of 2019

Beer

2019: Beer consumption in litres per year per person

Потребление beer per capita, data from early 2019
Годовое потребление beer per capita population in liters with a 5% strength in 2019

R&D

2020: R&D spending - $13.7 billion

R&D expenses as of 2020

Information Technology

IT market

2020: European tech companies attracting the most investment in 5 years

The European technology companies that attracted the most investments from 2015 to February 2, 2020

2018: Largest IT companies

Data for 2018

Agriculture

2019: Average use of pesticides in agriculture

As of 2019

Tourism

Data for 2018