Economy of Switzerland
| Economy - overview: | 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 safehaven 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 stagnated during the 2001-03 period, improved during 2004-05 to 1.8% annually and to 2.9% in 2006. Even so, unemployment has remained at less than half the EU average. |
| GDP (purchasing power parity): | $255.5 billion (2006 est.) |
| GDP (official exchange rate): | $386.1 billion (2006 est.) |
| GDP - real growth rate: | 2.7% (2006 est.) |
| GDP - per capita (PPP): | $34,000 (2006 est.) |
| GDP - composition by sector: | agriculture: 1.5% industry: 34% services: 64.5% (2003 est.) |
| Labor force: | 3.81 million (2006 est.) |
| Labor force - by occupation: | agriculture: 4.6% industry: 26.3% services: 69.1% (1998) |
| Unemployment rate: | 3.3% (2006 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) |
| Inflation rate (consumer prices): | 1.2% (2006 est.) |
| Investment (gross fixed): | 21.8% of GDP (2006 est.) |
| Budget: | revenues: $141 billion expenditures: $139.1 billion; including capital expenditures of $NA (2006 est.) |
| Public debt: | 51% of GDP (2006 est.) |
| Agriculture - products: | grains, fruits, vegetables; meat, eggs |
| Industries: | machinery, chemicals, watches, textiles, precision instruments, tourism, banking, and insurance |
| Industrial production growth rate: | 6.5% (2006 est.) |
| Electricity - production: | 61.97 billion kWh (2004) |
| Electricity - production by source: | fossil fuel: 1.3% hydro: 59.5% nuclear: 37.1% other: 2% (2001) |
| Electricity - consumption: | 56.93 billion kWh (2004) |
| Electricity - exports: | 27.8 billion kWh (2004) |
| Electricity - imports: | 27.1 billion kWh (2004) |
| Oil - production: | 2,241 bbl/day (2004 est.) |
| Oil - consumption: | 268,100 bbl/day (2004 est.) |
| Oil - exports: | 11,360 bbl/day (2004) |
| Oil - imports: | 267,000 bbl/day (2004) |
| Oil - proved reserves: | 0 bbl |
| Natural gas - production: | 0 cu m (2004 est.) |
| Natural gas - consumption: | 3.311 billion cu m (2004 est.) |
| Natural gas - exports: | 0 cu m (2004 est.) |
| Natural gas - imports: | 3.311 billion cu m (2004 est.) |
| Current account balance: | $50.44 billion (2006 est.) |
| Exports: | $166.3 billion f.o.b. (2006 est.) |
| Exports - commodities: | machinery, chemicals, metals, watches, agricultural products |
| Exports - partners: | Germany 21.5%, US 9.5%, France 8.6%, Italy 8.4%, UK 5.3% (2006) |
| Imports: | $162.3 billion f.o.b. (2006 est.) |
| Imports - commodities: | machinery, chemicals, vehicles, metals; agricultural products, textiles |
| Imports - partners: | Germany 27.3%, Italy 10.1%, US 9.1%, France 8.1%, Russia 7.6%, UK 4.9%, Austria 4.1% (2006) |
| Reserves of foreign exchange and gold: | $38.29 billion (August 2006 est.) |
| Debt - external: | $1.077 trillion (30 June 2006) |
| Economic aid - donor: | ODA, $1.1 billion (1995) |
| Currency (code): | Swiss franc (CHF) |
| Currency code: | CHF |
| Exchange rates: | Swiss francs per US dollar - 1.2539 (2006), 1.2452 (2005), 1.2435 (2004), 1.3467 (2003), 1.5586 (2002) |
| Fiscal year: | calendar year |