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 Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 0.30 0.6 0.6 0.5 0.6 0.4 percent [+]
Unemployment Rate 3.00 3.4 3.5 3 3.2 3.5 percent [+]
Inflation Rate 0.70 0.8 1.1 1 1.2 1.8 percent [+]
Interest Rate -0.75 -0.75 -0.75 -0.5 -0.5 0.5 percent [+]
Balance of Trade 2173.00 2900 2678 2616 2559 2800 CHF million [+]
Government Debt to GDP 32.60 32.1 31.7 31.7 31.7 30.7 percent [+]
MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 0.98 0.97 0.96 0.95 0.94 0.83 [+]
Stock Market 9309.61 9170 9080 8980 8890 7870 points [+]
Government Bond 10Y -0.08 -0.04 -0.04 -0.04 -0.04 -0.05 percent [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 0.30 0.6 0.6 0.5 0.6 0.4 percent [+]
GDP Annual Growth Rate 0.30 0.7 1.5 1.9 2 2.6 percent [+]
GDP 659.83 680 649 642 636 715 USD Billion [+]
GDP Constant Prices 168178.01 168646 168777 168857 168898 168488 CHF Million [+]
Gross Fixed Capital Formation 41645.50 41704 41724 41710 41690 41361 CHF Million [+]
GDP per capita 75725.65 75980 76210 76210 76210 76850 USD [+]
GDP per capita PPP 56625.14 56487 56410 56333 56256 55481 USD [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 3.00 3.4 3.5 3 3.2 3.5 percent [+]
Employed Persons 5018.00 5009 5012 5011 5009 4992 Thousand [+]
Unemployed Persons 142874.70 139604 136838 133819 130623 102765 [+]
Productivity 100.84 101 101 101 101 101 Index Points [+]
Job Vacancies 12095.00 12122 12149 12175 12201 12420 [+]
Wages 6257.26 6251 6248 6244 6240 6184 CHF/Month [+]
Wages in Manufacturing 113.20 114 114 114 115 115 Index Points [+]
Population 8.42 8.42 8.49 8.49 8.49 8.66 Million [+]
Retirement Age Women 64.00 63.86 63.86 63.86 63.86 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change 0.60 0.45 0.44 0.39 0.42 0.42 percent [+]
Employment Rate 79.80 79.81 79.45 79.68 79.41 79.25 percent [+]
Full Time Employment 2761.50 2792 2769 2759 2771 2760 Thousand [+]
Non Farm Payrolls 4915.00 4929 4915 4927 4931 4902 Thousand [+]
Part Time Employment 1659.00 1646 1646 1645 1645 1640 Thousand [+]
Labor Force Participation Rate 68.40 68.18 68.1 68.07 68.02 67.82 percent [+]
Job Offers 51896.00 51414 51352 51287 51219 51022 [+]
Wage Growth 0.70 0.83 0.87 0.9 0.93 1.19 percent [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 0.70 0.8 1.1 1 1.2 1.8 percent [+]
Inflation Rate Mom 0.20 0.5 0.14 0.13 0.13 0.6 percent [+]
Consumer Price Index CPI 100.87 101 101 101 101 101 Index Points [+]
Core Consumer Prices 100.40 100 100 100 100 100 Index Points [+]
Core Inflation Rate 0.53 0.49 0.49 0.48 0.48 0.45 percent [+]
GDP Deflator 98.60 98.53 98.49 98.42 98.36 97.61 Index Points [+]
Producer Prices 100.50 108 110 110 100 122 Index Points [+]
Producer Prices Change 0.80 1 1.5 1.9 2.2 2 percent [+]
Export Prices 98.10 98.12 98.17 98.21 98.26 98.45 Index Points [+]
Import Prices 102.44 104 105 105 106 111 Index Points [+]
Food Inflation 0.30 0.45 0.54 0.62 0.69 0.91 percent [+]
CPI Transportation 100.09 99.94 99.87 99.8 99.74 99.17 Index Points [+]
Harmonised Consumer Prices 100.39 100 100 100 100 99.91 Index Points [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate -0.75 -0.75 -0.75 -0.5 -0.5 0.5 percent [+]
Interbank Rate -0.73 -0.68 -0.6 -0.52 -0.44 0.17 percent [+]
Money Supply M0 549372.00 549891 548778 547658 546540 536601 CHF Million [+]
Money Supply M1 623516.00 627326 628045 627918 627458 621521 CHF Million [+]
Money Supply M2 974380.00 979601 981348 981671 981211 969338 CHF Million [+]
Money Supply M3 1024514.00 1028807 1030367 1030882 1030918 1027765 CHF Million [+]
Foreign Exchange Reserves 724414.90 731662 731611 729651 727221 704527 CHF Million [+]
Banks Balance Sheet 1982861.80 1981483 1980861 1980218 1979574 1973796 CHF Million [+]
Loans to Private Sector 1381993.00 1384907 1384849 1384536 1384150 1380443 CHF Million [+]
Deposit Interest Rate -0.21 0.11 0.22 0.32 0.43 1.13 percent [+]
Central Bank Balance Sheet 799888.26 799891 798353 796636 794906 779570 CHF Million [+]
Private Debt to GDP 211.00 199 199 199 199 195 percent [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade 2173.00 2900 2678 2616 2559 2800 CHF million [+]
Exports 16667.00 17478 17995 18057 17954 17649 CHF million [+]
Imports 14494.00 14975 14956 14995 14971 14586 CHF million [+]
Current Account 18748.00 16242 15183 15183 14669 12364 CHF Million [+]
Current Account to GDP 11.00 9.5 8.7 8.7 8.7 7.8 percent [+]
External Debt 1712708.00 1627330 1619202 1590724 1560548 1406855 CHF Million [+]
Terms of Trade 114.71 114 114 114 114 112 Index Points [+]
Capital Flows 12428.00 15902 13706 14182 15051 14497 CHF Million [+]
Foreign Direct Investment 833192.60 873868 884680 895492 906304 1004286 CHF Million [+]
Tourist Arrivals 1507.00 1200 1200 1200 1200 1200 Thousand [+]
Gold Reserves 1039.99 1046 1050 1056 1063 1169 Tonnes [+]
Terrorism Index 0.29 0.35 0.47 0.58 0.7 0.92 [+]
Tourism Revenues 4175.95 3536 3930 4148 4743 3637 CHF Million [+]
Weapons Sales 186.00 233 252 270 289 277 USD Million [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 32.60 32.1 31.7 31.7 31.7 30.7 percent [+]
Government Budget 0.20 0.6 1 1 1 1.5 percent of GDP [+]
Government Budget Value 1323.00 1381 745 427 109 -902 CHF Million [+]
Government Spending 19847.24 19929 19958 19980 19996 20012 CHF Million [+]
Government Spending to GDP 33.60 33 32.81 32.63 32.44 31.54 percent [+]
Government Revenues 219259.00 220499 221442 221914 222386 224637 CHF Million [+]
Government Debt 226607.00 224739 225715 226202 226690 225496 CHF Million [+]
Fiscal Expenditure 217426.00 219385 218982 218781 218579 220270 CHF Million [+]
Asylum Applications 1535.00 1807 1800 1781 1770 1767 persons [+]
Military Expenditure 4824.40 4825 4848 4870 4893 5044 USD Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Business Confidence 105.80 105 103 102 101 101 [+]
Manufacturing PMI 61.70 60.29 58.63 57.3 56.34 54.24 [+]
Industrial Production 2.90 3 3.58 2.92 3.39 1.79 percent [+]
Manufacturing Production 4.00 4.38 4.82 4.11 4.29 1.67 percent [+]
Capacity Utilization 81.84 82.59 83.04 83.43 83.64 83.54 percent [+]
Factory Orders 2.80 4.67 4.55 4.15 3.19 1.86 percent [+]
Changes in Inventories -1390.50 -1005 -1324 -889 -444 -57.61 CHF Million [+]
Bankruptcies 12927.00 12414 12438 12461 12484 12127 companies and individuals [+]
Car Registrations 27.25 25.64 25.36 25.14 24.97 24.45 Thousand [+]
Competitiveness Index 5.86 5.81 5.81 5.81 5.81 5.87 Points [+]
Competitiveness Rank 1.00 1 1 1 1 1 [+]
Ease of Doing Business 31.00 32 32 32 31 29 [+]
Corruption Index 86.00 87 87 87 87 88 Points [+]
Corruption Rank 5.00 6 6 6 6 7 [+]
Mining Production -1.40 -0.41 1.84 1.32 1.87 0.79 percent [+]
Zew Economic Sentiment Index 28.00 17.8 11.24 6.49 3.05 10.1 [+]
CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Consumer Confidence -3.00 -2 -4.56 -5.03 -6 -2 [+]
Retail Sales MoM -0.20 0.2 0.11 0.11 0.11 0.11 percent [+]
Retail Sales YoY -0.20 0.64 0.78 0.91 1.01 1.3 percent [+]
Consumer Spending 91794.90 92254 92442 92625 92764 93560 CHF Million [+]
Personal Savings 13.70 12.93 12.86 12.79 12.72 12.72 percent [+]
Consumer Credit 840114.00 841517 841410 841198 840962 838776 CHF Million [+]
Gasoline Prices 1.47 1.46 1.46 1.45 1.45 1.41 USD/Liter [+]
Households Debt To Gdp 128.50 128 128 127 127 123 percent of GDP [+]
Households Debt To Income 178.57 180 179 179 178 176 percent [+]
HOUSING Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Housing Index 164.80 130 43.02 56.63 35.06 165 Index Points [+]
Construction Output 6.10 1.47 2.13 0.27 1.18 1.08 percent [+]
Home Ownership Rate 43.40 44.4 44.23 44.06 43.89 44.08 percent [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 24.41 19.07 22.43 24.1 25.78 26.72 percent [+]
Personal Income Tax Rate 40.00 40.04 40.05 40.06 40.07 40.14 percent [+]
Sales Tax Rate 8.00 7.94 7.94 7.94 7.94 7.86 percent [+]
Social Security Rate 12.46 12.79 12.79 12.79 12.79 13.4 percent [+]
Social Security Rate For Companies 6.23 6.58 6.58 6.58 6.58 7.22 percent [+]
Social Security Rate For Employees 6.23 6.21 6.21 6.21 6.22 6.19 percent [+]