Switzerland Economy:
Switzerland is a peaceful, 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, with a small rise to 1.8% in 2004. Even so, unemployment has remained at less than half the EU average.
GDP (purchasing power parity):
$251.9 billion (2004 est.)
GDP real growth rate:
1.8% (2004 est.)
GDP per capita:
purchasing power parity: $33,800 (2004 est.)
GDP composition by sector:
agriculture: 1.5%
industry: 34%
services: 64.5%
(2003)
Labor force:
3.77 million (2004 est.)
Labor force by occupation:
agriculture: 4.6%, industry: 26.3%, services: 69.1% (1998 est.)
Unemployment rate:
3.4% (2004 est.)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 25.2% (1992)
Distribution of family income Gini index:
33.1 (1992 est.)
Inflation rate (consumer prices):
0.9% (2004 est.)
Investment (gross fixed):
20.4% of GDP (2004 est.)
Budget:
revenues: $131.5 billion (2004 est.)
expenditures: $140.4 billion including capital expenditures of NA (2004 est.)
Public debt:
57.2% of GDP (2004 est.)
Agriculture products:
Grains, fruits, vegetables; meat, eggs
Industries:
machinery, chemicals, watches, textiles, precision instruments
Industrial production growth rate:
4.7% (2004 est.)
Electricity production:
63.47 billion kWh (2002 est.)
Electricity consumption:
54.53 billion kWh (2002 est.)
Electricity exports:
32.3 billion kWh (2002 est.)
Electricity imports:
27.8 billion kWh (2002 est.)
Oil production:
0 bbl/day (2001 est.)
Oil consumption:
290,400 bbl/day (2001 est.)
Oil exports:
10,420 bbl/day (2001 est.)
Oil imports:
289,500 bbl/day (2001 est.)
Natural gas production:
0 cu m (2001 est.)
Natural gas consumption:
3.09 billion cu m (2001 est.)
Natural gas exports:
0 cu m (2001 est.)
Natural gas imports:
3.09 cu m (2001 est.)
Current account balance:
$40.95 billion (2004 est.)
Exports:
$130.7 billion (f.o.b. 2004 est.)
Exports commodities:
machinery, chemicals, metals, watches, agricultural products
Exports partners:
Germany 20.2%, US 10.5%, France 8.7%, Italy 8.3%, UK 5.1%, Spain 4% (2004)
Imports:
$121.1 billion (f.o.b. 2004 est.)
Imports commodities:
machinery, chemicals, vehicles, metals, agricultural products, textiles
Imports partners:
Germany 32.8%, Italy 11.3%, France 9.9%, US 5.2%, Netherlands 5%, Austria 4.3% (2004)
Reserves of foreign exchange and gold:
$69.58 billion (2003 est.)
Debt external:
NA (2000 est.)
Economic aid donor:
$1.1 billion ODA (1995 est.)
Currency:
Swiss franc (CHF)
Exchange rates:
Swiss francs per US$: 1.24 (2004 est.), 1.35 (2003 est.), 1.56 (2002 est.), 1.69 (2001 est.), 1.69 (2000 est.)
Fiscal year:
calendar year
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