Switzerland | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Switzerland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Switzerland economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.30 0.4 0.5 0.6 0.6 0.4 percent [+]
Unemployment Rate 3.10 3.1 3.2 3.4 3.5 3.5 percent [+]
Inflation Rate 0.50 0.3 0.5 0.8 1.1 1.8 percent [+]
Interest Rate -0.75 -0.75 -0.75 -0.75 -0.5 0.5 percent [+]
Balance of Trade 3400.03 3500 3128 2900 3078 2800 CHF million [+]
Government Debt to GDP 32.60 32.6 32.22 31.85 31.77 31.67 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 0.97 0.99 1 1.03 1.02 1.18 [+]
Stock Market 9032.89 8760 8680 8410 8500 7080 points [+]
Government Bond 10Y -0.16 -0.18 -0.18 -0.19 -0.19 -0.22 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.30 0.4 0.5 0.6 0.6 0.4 percent [+]
GDP Annual Growth Rate 1.10 1.5 1.7 1.7 1.9 2.6 percent [+]
GDP 670.79 680 680 680 674 715 USD Billion [+]
GDP Constant Prices 166165.99 166648 167148 167649 168148 173600 CHF Million [+]
Gross Fixed Capital Formation 40569.70 40619 40697 40771 40783 40848 CHF Million [+]
GDP per capita 75582.00 75680 75739 75798 75773 75930 USD [+]
GDP per capita PPP 56517.45 56620 56689 56759 56732 56895 USD [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 3.10 3.1 3.2 3.4 3.5 3.5 percent [+]
Employed Persons 4982.00 4948 4914 4885 4871 4815 Thousand [+]
Unemployed Persons 146008.73 143406 140502 138132 136252 129903 [+]
Productivity 100.36 101 101 101 101 101 Index Points [+]
Job Vacancies 11365.00 10710 9139 8022 7229 5328 [+]
Wages 6213.76 6222 6251 6279 6276 6317 CHF/Month [+]
Wages in Manufacturing 112.20 112 112 113 113 117 Index Points [+]
Population 8.33 8.28 8.3 8.33 8.33 8.64 Million [+]
Retirement Age Women 64.00 64 64 64 64 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change 0.00 0.55 0.37 0.34 0.18 0.41 percent [+]
Employment Rate 81.30 81.43 81.25 81.51 81.53 81.68 percent [+]
Full Time Employment 2860.50 2850 2866 2864 2853 2863 Thousand [+]
Non Farm Payrolls 4884.00 4899 4923 4926 4897 4933 Thousand [+]
Part Time Employment 1667.20 1677 1662 1701 1714 1744 Thousand [+]
Labor Force Participation Rate 69.50 69.53 69.58 69.61 69.65 69.66 percent [+]
Job Offers 51896.00 53555 53464 52962 53276 53491 [+]
Wage Growth 0.70 0.76 0.81 0.85 0.88 0.98 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 0.50 0.3 0.5 0.8 1.1 1.8 percent [+]
Inflation Rate Mom 0.20 0.2 0.05 0.5 0.04 0.6 percent [+]
Consumer Price Index CPI 101.00 101 101 101 102 104 Index Points [+]
Core Consumer Prices 100.70 100 100 100 100 101 Index Points [+]
Core Inflation Rate 0.28 0.25 0.27 0.25 0.26 0.26 percent [+]
GDP Deflator 98.70 98.73 98.76 98.75 98.75 98.86 Index Points [+]
Producer Prices 99.80 104 106 108 110 122 Index Points [+]
Producer Prices Change 0.10 2.1 2.5 2.7 3 2 percent [+]
Export Prices 98.30 98.25 98.16 98.14 98.14 98.14 Index Points [+]
Import Prices 101.29 101 101 101 101 101 Index Points [+]
Food Inflation 0.72 0.55 0.63 0.63 0.63 0.63 percent [+]
Cpi Transportation 101.50 101 101 101 101 101 Index Points [+]
Harmonised Consumer Prices 100.13 100 99.91 99.97 99.94 99.95 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate -0.75 -0.75 -0.75 -0.75 -0.5 0.5 percent [+]
Interbank Rate -0.73 -0.72 -0.73 -0.73 -0.73 -0.73 percent [+]
Money Supply M0 561229.00 563631 563196 563335 563222 563265 CHF Million [+]
Money Supply M1 616216.00 620823 630074 634247 636273 638010 CHF Million [+]
Money Supply M2 967040.00 973029 985425 990921 993315 995156 CHF Million [+]
Money Supply M3 1016962.00 1020393 1029734 1038126 1046420 1134680 CHF Million [+]
Foreign Exchange Reserves 693727.30 692524 690902 690637 690705 690734 CHF Million [+]
Banks Balance Sheet 1983522.74 1998305 2019718 2041155 2062501 2292524 CHF Million [+]
Loans to Private Sector 1371924.00 1377758 1386732 1395522 1404156 1489668 CHF Million [+]
Deposit Interest Rate -0.18 -0.11 -0.18 -0.24 -0.24 -0.17 percent [+]
Central Bank Balance Sheet 782862.52 789548 788189 788311 788435 788424 CHF Million [+]
Private Debt to GDP 211.00 209 209 210 210 206 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 3400.03 3500 3128 2900 3078 2800 CHF million [+]
Exports 19564.49 17936 18367 17997 18153 18131 CHF million [+]
Imports 16164.46 15082 15242 15094 15147 15145 CHF million [+]
Current Account 22022.94 22545 19750 22300 19837 22217 CHF Million [+]
Current Account to GDP 11.50 9.5 9.5 9.5 9.1 7.8 percent [+]
External Debt 1721336.40 1678596 1704161 1696302 1685981 1693993 CHF Million [+]
Terms of Trade 112.28 112 112 112 112 112 Index Points [+]
Capital Flows 18026.84 17412 19301 15119 14102 15002 CHF Million [+]
Foreign Direct Investment 833192.60 855259 868391 881524 892279 1090497 CHF Million [+]
Tourist Arrivals 1406.00 1293 1267 1330 1299 1306 Thousand [+]
Gold Reserves 1039.99 1040 1040 1040 1040 1041 Tonnes [+]
Terrorism Index 0.29 0.65 0.53 0.41 0.53 0.84 [+]
Tourism Revenues 3447.52 3841 4578 3454 3784 3477 CHF Million [+]
Weapons Sales 186.00 279 250 221 248 214 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 32.60 32.6 32.22 31.85 31.77 31.67 percent [+]
Government Budget 0.20 0.31 0.25 0.19 0.14 -0.08 percent of GDP [+]
Government Budget Value 1323.00 1573 1573 1573 226 -590 CHF Million [+]
Government Spending 18429.89 18487 18557 18620 18680 19341 CHF Million [+]
Government Spending to GDP 33.60 33.43 33.32 33.2 33.06 32.09 percent [+]
Government Revenues 219259.00 222235 222235 222235 223736 231501 CHF Million [+]
Government Debt 226607.00 226036 226036 226036 227679 229793 CHF Million [+]
Fiscal Expenditure 217426.00 219987 219987 219987 219169 222646 CHF Million [+]
Asylum Applications 1225.00 1465 1891 2115 2137 2060 persons [+]
Military Expenditure 4824.40 4677 4748 4819 4815 4877 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 101.60 104 101 105 101 101 [+]
Manufacturing PMI 55.60 55.9 55.55 55.39 55.29 55.21 [+]
Industrial Production -1.30 0.82 -1.2 0.34 -0.2 -0.32 percent [+]
Manufacturing Production -0.50 2.14 0.13 1.92 1.08 1.19 percent [+]
Capacity Utilization 81.23 79.74 81.86 81.8 82.24 81.88 percent [+]
Factory Orders -4.60 -9.11 -12.24 -9.13 -9.46 -6.47 percent [+]
Changes in Inventories -3736.10 -2995 -2751 -2635 -2882 -2896 CHF Million [+]
Bankruptcies 12927.00 12954 12619 12284 12377 12283 companies and individuals [+]
Car Registrations 24.00 26.42 26.04 26.06 26.08 26.1 Thousand [+]
Competitiveness Index 5.81 5.74 5.74 5.74 5.8 5.77 Points [+]
Competitiveness Rank 1.00 1 1 1 1 1 [+]
Ease of Doing Business 31.00 31 32 32 32 35 [+]
Corruption Index 86.00 86 86 85 85 86 Points [+]
Corruption Rank 5.00 6 6 6 5 5 [+]
Mining Production -3.60 1.24 0.37 0.73 1.83 0.39 percent [+]
Zew Economic Sentiment Index 30.80 16.6 32.32 17.8 32.63 10.1 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence -8.00 1 -6 -2 -6.98 -2 [+]
Retail Sales MoM -2.40 0.1 0.27 0.04 0.02 0.02 percent [+]
Retail Sales YoY -1.20 0.57 0.73 0.85 0.97 1.37 percent [+]
Consumer Spending 91246.80 91573 91948 92183 92482 95423 CHF Million [+]
Personal Savings 13.70 13.85 13.49 13.13 13.11 13.68 percent [+]
Consumer Credit 834493.00 839085 845955 852796 859613 932970 CHF Million [+]
Gasoline Prices 1.43 1.43 1.43 1.43 1.43 1.43 USD/Liter [+]
Households Debt To Gdp 128.40 129 129 129 130 130 percent of GDP [+]
Households Debt To Income 178.57 176 178 180 179 176 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Housing Index 461.76 464 466 469 471 482 Index Points [+]
Construction Output -1.40 1.51 0.14 0.88 1.27 1.06 percent [+]
Home Ownership Rate 43.40 44.08 44.07 44.06 44.07 44.09 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 17.92 18.13 18.17 18.22 18.31 19.89 percent [+]
Personal Income Tax Rate 40.00 40 40 40 40 40 percent [+]
Sales Tax Rate 8.00 8 8 8 8 8 percent [+]
Social Security Rate 12.50 12.91 12.91 12.91 13 13.92 percent [+]
Social Security Rate For Companies 6.25 6.68 6.68 6.68 6.78 7.78 percent [+]
Social Security Rate For Employees 6.25 6.25 6.25 6.25 6.25 6.25 percent [+]