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 Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.30 0.5 0.6 0.6 0.5 0.4 percent [+]
Unemployment Rate 3.00 3.2 3.4 3.5 3 3.5 percent [+]
Inflation Rate 0.50 0.5 0.8 1.1 1 1.8 percent [+]
Interest Rate -0.75 -0.75 -0.75 -0.5 -0.5 0.5 percent [+]
Balance of Trade 2173.00 3071 2900 3022 3023 2800 CHF million [+]
Government Debt to GDP 32.60 32.1 32.1 31.7 31.7 30.7 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 0.97 0.94 0.93 0.92 0.91 0.81 [+]
Stock Market 9141.71 8880 8790 8700 8610 7630 points [+]
Government Bond 10Y -0.04 -0.04 -0.04 -0.04 -0.04 -0.05 percent [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.30 0.5 0.6 0.6 0.5 0.4 percent [+]
GDP Annual Growth Rate 0.30 0.7 1.1 1.5 1.9 2.6 percent [+]
GDP 659.83 680 680 666 663 715 USD Billion [+]
GDP Constant Prices 168178.01 169300 170190 170827 171288 171994 CHF Million [+]
Gross Fixed Capital Formation 41645.50 41660 41704 41724 41710 41361 CHF Million [+]
GDP per capita 75725.65 75638 75589 75645 75701 75805 USD [+]
GDP per capita PPP 56625.14 56526 56452 56503 56554 56648 USD [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 3.00 3.2 3.4 3.5 3 3.5 percent [+]
Employed Persons 5018.00 5029 5035 5033 5034 5048 Thousand [+]
Unemployed Persons 143674.50 140114 136974 134385 132468 134665 [+]
Productivity 100.84 101 101 101 101 101 Index Points [+]
Job Vacancies 12018.00 12027 12055 12083 12110 12362 [+]
Wages 6257.26 6241 6251 6248 6244 6184 CHF/Month [+]
Wages in Manufacturing 113.20 114 114 114 115 117 Index Points [+]
Population 8.42 8.42 8.42 8.49 8.49 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 0.60 0.37 0.34 0.18 0.48 0.41 percent [+]
Employment Rate 79.30 79.39 80.09 79.28 79.64 79.53 percent [+]
Full Time Employment 2761.50 2792 2804 2766 2751 2787 Thousand [+]
Non Farm Payrolls 4915.00 4923 4926 4897 4903 4933 Thousand [+]
Part Time Employment 1659.00 1627 1663 1669 1667 1676 Thousand [+]
Labor Force Participation Rate 68.40 69.58 69.61 69.65 69.63 69.66 percent [+]
Job Offers 51896.00 53464 52962 53276 53616 53491 [+]
Wage Growth 0.70 0.81 0.85 0.88 0.88 0.98 percent [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 0.50 0.5 0.8 1.1 1 1.8 percent [+]
Inflation Rate Mom 0.00 0.1 0.5 0.13 0.13 0.6 percent [+]
Consumer Price Index CPI 100.60 101 101 101 101 100 Index Points [+]
Core Consumer Prices 100.20 100 100 100 100 100 Index Points [+]
Core Inflation Rate 0.36 0.38 0.36 0.37 0.36 0.37 percent [+]
GDP Deflator 98.60 98.6 98.53 98.49 98.42 97.61 Index Points [+]
Producer Prices 100.00 106 108 110 110 122 Index Points [+]
Producer Prices Change 0.60 2.5 2.7 3 3 2 percent [+]
Export Prices 97.80 98.21 98.19 98.19 98.19 98.19 Index Points [+]
Import Prices 101.87 100 100 100 100 100 Index Points [+]
Food Inflation -0.40 0.21 0.28 0.29 0.29 0.29 percent [+]
CPI Transportation 100.23 100 100 100 99.94 99.3 Index Points [+]
Harmonised Consumer Prices 100.17 100 100 100 100 100 Index Points [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate -0.75 -0.75 -0.75 -0.5 -0.5 0.5 percent [+]
Interbank Rate -0.73 -0.7 -0.65 -0.57 -0.49 0.19 percent [+]
Money Supply M0 548754.00 558217 558609 558420 558529 558489 CHF Million [+]
Money Supply M1 623516.00 619857 621098 622273 622277 622673 CHF Million [+]
Money Supply M2 974380.00 966246 967044 967350 967476 967570 CHF Million [+]
Money Supply M3 1024514.00 1023455 1031052 1038622 1046163 1118659 CHF Million [+]
Foreign Exchange Reserves 716667.00 715142 717592 716002 713595 687911 CHF Million [+]
Banks Balance Sheet 1982861.80 2011574 2032488 2053271 2073993 2277270 CHF Million [+]
Loans to Private Sector 1381993.00 1389211 1398376 1407391 1416253 1497007 CHF Million [+]
Deposit Interest Rate -0.21 -0.19 -0.18 -0.17 -0.16 -0.13 percent [+]
Central Bank Balance Sheet 796925.24 799062 799547 798001 796278 779161 CHF Million [+]
Private Debt to GDP 211.00 209 210 210 209 206 percent [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade 2173.00 3071 2900 3022 3023 2800 CHF million [+]
Exports 16667.00 18464 18136 18366 18339 18322 CHF million [+]
Imports 14494.00 15477 15315 15382 15366 15369 CHF million [+]
Current Account 18748.00 14760 17064 13927 17363 17173 CHF Million [+]
Current Account to GDP 11.00 9.5 9.5 9.1 9.1 7.8 percent [+]
External Debt 1705354.00 1708247 1709261 1698005 1703401 1703980 CHF Million [+]
Terms of Trade 114.71 111 111 111 111 111 Index Points [+]
Capital Flows 18171.00 17206 15410 15111 15312 14566 CHF Million [+]
Foreign Direct Investment 833192.60 868391 881524 892279 903034 1090497 CHF Million [+]
Tourist Arrivals 1507.00 1200 1200 1200 1200 1200 Thousand [+]
Gold Reserves 1039.99 1040 1040 1040 1040 1039 Tonnes [+]
Terrorism Index 0.29 0.53 0.41 0.53 0.64 0.84 [+]
Tourism Revenues 3790.73 4618 3459 3795 3841 3490 CHF Million [+]
Weapons Sales 186.00 250 221 248 275 214 USD Million [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 32.60 32.1 32.1 31.7 31.7 30.7 percent [+]
Government Budget 0.20 0.25 0.19 0.14 0.09 -0.08 percent of GDP [+]
Government Budget Value 1323.00 1573 1573 563 226 -590 CHF Million [+]
Government Spending 19847.24 19898 19929 19958 19980 20012 CHF Million [+]
Government Spending to GDP 33.60 33.32 33.2 33.06 32.93 32.09 percent [+]
Government Revenues 219259.00 222235 222235 223361 223736 231501 CHF Million [+]
Government Debt 226607.00 226036 226036 227268 227679 229793 CHF Million [+]
Fiscal Expenditure 217426.00 219987 219987 219374 219169 222646 CHF Million [+]
Asylum Applications 1535.00 1891 2115 2137 2092 2060 persons [+]
Military Expenditure 4824.40 4748 4819 4815 4812 4877 USD Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Business Confidence 104.10 107 105 107 107 101 [+]
Manufacturing PMI 61.20 61.17 62.27 62.61 62.78 62.93 [+]
Industrial Production 2.90 -1.2 0.34 -0.2 -0.68 -0.32 percent [+]
Manufacturing Production 4.00 0.13 1.92 1.08 0.81 1.19 percent [+]
Capacity Utilization 81.84 81.86 81.8 82.24 81.89 81.88 percent [+]
Factory Orders 2.80 -12.24 -9.13 -9.46 -5.86 -6.47 percent [+]
Changes in Inventories -1390.50 -1481 -2001 -2521 -2419 -2159 CHF Million [+]
Bankruptcies 12927.00 12619 12284 12377 12470 12283 companies and individuals [+]
Car Registrations 24.18 25.81 25.36 25.1 24.92 24.42 Thousand [+]
Competitiveness Index 5.81 5.74 5.74 5.78 5.8 5.77 Points [+]
Competitiveness Rank 1.00 1 1 1 1 1 [+]
Ease of Doing Business 31.00 32 32 32 33 35 [+]
Corruption Index 86.00 86 85 85 85 86 Points [+]
Corruption Rank 5.00 6 6 5 5 5 [+]
Mining Production -1.40 0.37 0.73 1.83 0.65 0.39 percent [+]
Zew Economic Sentiment Index 25.00 27.5 17.8 26.31 25.81 10.1 [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Consumer Confidence -3.00 -2 -2 -2.03 -3 -2 [+]
Retail Sales MoM -1.30 0.16 0.07 -0.01 -0.02 -0.02 percent [+]
Retail Sales YoY -0.70 0.46 0.58 0.72 0.84 1.29 percent [+]
Consumer Spending 91794.90 92107 92256 92464 92660 93907 CHF Million [+]
Personal Savings 13.70 13.49 13.13 13.11 13.08 13.68 percent [+]
Consumer Credit 840114.00 845859 852694 859505 866290 932801 CHF Million [+]
Gasoline Prices 1.48 1.48 1.48 1.47 1.47 1.42 USD/Liter [+]
Households Debt To Gdp 128.50 129 129 130 130 130 percent of GDP [+]
Households Debt To Income 178.57 178 180 179 179 176 percent [+]
HOUSING Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Housing Index 164.80 224 200 140 110 36.06 Index Points [+]
Construction Output 6.10 0.14 0.88 1.27 0.99 1.06 percent [+]
Home Ownership Rate 43.40 44.24 44.39 44.25 44.12 44.07 percent [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 24.41 19.07 19.07 24.1 25.78 26.72 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 12.46 12.45 12.45 12.45 12.45 12.46 percent [+]
Social Security Rate For Companies 6.23 6.23 6.23 6.23 6.23 6.23 percent [+]
Social Security Rate For Employees 6.23 6.23 6.23 6.22 6.22 6.22 percent [+]