Economy - overview Switzerland, a fundamentally prosperous and stable modern economy with a per capita GDP roughly 10% above that of the big West European economies, is experiencing continued economic difficulties. GDP growth was a minus 0.2% in 1996 and a weak plus 0.4% in 1997. Weak domestic consumer demand is partly at fault; stagnating real disposable income combines with a reluctance to reduce saving rates in the face of an uncertain employment outlook. Switzerland's leading sectors, including financial services, biotechnology, pharmaceuticals, and special-purpose machines, therefore are more reliant on export markets. Exports should lead an upturn in Swiss economic performance in 1998-99, provided the franc does not appreciate substantially as a result of Swiss monetary policy or instability in the run up to EMU.

GDP purchasing power parity - $172.4 billion (1997 est.)

GDP - real growth rate 0.4% (1997 est.)

GDP - per capita purchasing power parity - $23,800 (1997 est.)

GDP - composition by sector
agriculture: 2.8%
industry: 31.1%
services: 66.1% (1995)

Inflation rate - consumer price index -0.1% (1997)

Labor force
total: 3.8 million (850,000 foreign workers, mostly Italian)
by occupation: services 67%, manufacturing and construction 29%, agriculture and forestry 4% (1995)

Unemployment rate 5% (1997 est.)

Budget
revenues: $25.8 billion
expenditures: $30.8 billion, including capital expenditures of $2.3 billion (1997)

Industries machinery, chemicals, watches, textiles, precision instruments

Industrial production growth rate 0% (1996)

Electricity - capacity 14.27 million kW (1995)

Electricity - production 55 billion kWh (1996)

Electricity - consumption per capita 6,850 kWh (1996 est.)

Agriculture - products grains, fruits, vegetables; meat, eggs

Exports
total value: $99.2 billion (f.o.b., 1997)
commodities: machinery 29%, chemicals 26%, metals 8%, agricultural products 4% (1996)
partners: EU countries 61%, US 9%, Japan 4% (1996)

Imports
total value: $86.6 billion (c.i.f., 1997)
commodities: machinery 22%, chemicals 20%, metals 8%, agricultural products 9% (1996)
partners: EU 79%, US 7%, Japan 3% (1996)

Debt - external $NA

Economic aid
donor: ODA, $1.034 billion (1995)

Currency 1 Swiss franc, franken, or franco (SFR) = 100 centimes, rappen, or centesimi

Exchange rates Swiss francs, franken, or franchi (SFR) per US$1 - 1.4757 (January 1998), 1.4513 (1997), 1.2360 (1996), 1.1825 (1995), 1.3677 (1994), 1.4776 (1993)

Fiscal year calendar year

NOTE: The information regarding Switzerland on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Switzerland Economy 1998 information contained here. All suggestions for corrections of any errors about Switzerland Economy 1998 should be addressed to the CIA.