| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Switzerland Economy 2010
http://www.workmall.com/wfb2010/switzerland/switzerland_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

. Feedback

GEOGRAPHICAL NAMES Spanish Simplified Chinese French German Russian Hindi Arabic Portuguese
Page last updated on January 15, 2010

Economy - overview:
Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. In recent years the Swiss have brought their economic practices largely into conformity with the EU's, in order to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The global financial crisis and resulting economic downturn put Switzerland in a recession in 2009 as global export demand stalled. The Swiss National Bank during this period effectively implemented a zero-interest rate policy in a bid to boost the economy and prevent appreciation of the franc. Switzerland's economy will probably experience modest GDP growth in 2010, when Bern is scheduled to implement a third fiscal stimulus program, but its prized banking sector has recently faced significant challenges. The country's largest banks suffered sizable losses in 2008-09, leading its largest bank to accept a government rescue deal in late 2008. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, its government is negotiating measures that would improve transparency within its banking sector and increase cooperation with foreign tax authorities. In 2009 Swiss financial regulators ordered the country's largest bank to reveal at Washington's behest the names of US accountholders suspected of using the bank to commit tax fraud. Bern also has recently signed dual taxation agreements with more than ten countries to improve information exchange. These steps will have a lasting impact on Switzerland's long history of bank secrecy.

GDP (purchasing power parity):
$316.1 billion (2009 est.)

$321.9 billion (2008 est.)
$316.2 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$484.1 billion (2009 est.)

GDP - real growth rate:
-1.8% (2009 est.)

1.8% (2008 est.)
3.6% (2007 est.)

GDP - per capita (PPP):
$41,600 (2009 est.)

$42,500 (2008 est.)
$41,900 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 1.5%
industry: 34%
services: 64.5% (2003 est.)

Labor force:
4.08 million (2009 est.)

Labor force - by occupation:
agriculture: 3.9%
industry: 22.8%
services: 73.2% (2005)

Unemployment rate:
3.7% (2009 est.)

2.768% (2007 est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: 2.9%
highest 10%: 25.9% (2000)

Distribution of family income - Gini index:
33.7 (2008)

33.1 (1992)

Investment (gross fixed):
21.1% of GDP (2009 est.)

Budget:
revenues: $166.4 billion
expenditures: $172.6 billion (2009 est.)

Public debt:
43.5% of GDP (2009 est.)

40.2% of GDP (2008 est.)

Inflation rate (consumer prices):
-0.6% (2009 est.)

2.4% (2008 est.)

Central bank discount rate:
0.05% (31 December 2008)

2.05% (31 December 2007)

Commercial bank prime lending rate:
3.34% (31 December 2008)

3.15% (31 December 2007)

Stock of money:
$207 billion (31 December 2008)

$213.9 billion (31 December 2007 est.)

Stock of quasi money:
$477.6 billion (31 December 2008)

$450.7 billion (31 December 2007)

Stock of domestic credit:
$864.4 billion (31 December 2008)

$855.4 billion (31 December 2007)

Market value of publicly traded shares:
$NA (31 December 2008)

$1.275 trillion (31 December 2007)
$1.213 trillion (31 December 2006)

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:
63.93 billion kWh (2007 est.)

Electricity - consumption:
57.62 billion kWh (2007 est.)

Electricity - exports:
32.74 billion kWh (2008 est.)

Electricity - imports:
31.6 billion kWh (2008 est.)

Oil - production:
3,244 bbl/day (2008 est.)

Oil - consumption:
275,600 bbl/day (2008 est.)

Oil - exports:
10,310 bbl/day (2008 est.)

Oil - imports:
247,200 bbl/day (2008 est.)

Oil - proved reserves:
0 bbl

Natural gas - production:
0 cu m (2008 est.)

Natural gas - consumption:
3.429 billion cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
3.429 billion cu m (2008 est.)

Natural gas - proved reserves:
0 cu m (1 January 2006 est.)

Current account balance:
$79.18 billion (2009 est.)

$41.21 billion (2008 est.)

Exports:
$190.1 billion (2009 est.)

$241.3 billion (2008 est.)

Exports - commodities:
machinery, chemicals, metals, watches, agricultural products

Exports - partners:
Germany 19.8%, US 9.6%, Italy 8.7%, France 8.6%, UK 5.2% (2008)

Imports:
$177.2 billion (2009 est.)

$227.4 billion (2008 est.)

Imports - commodities:
machinery, chemicals, vehicles, metals; agricultural products, textiles

Imports - partners:
Germany 33.3%, Italy 11%, France 9.4%, US 5.8%, Netherlands 4.6%, Austria 4% (2008)

Reserves of foreign exchange and gold:
$NA (31 December 2009 est.)

$74.07 billion (31 December 2008 est.)

Debt - external:
$1.339 trillion (30 June 2009 est.)

$1.305 trillion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$395.6 billion (31 December 2009 est.)

$405.1 billion (31 December 2008 est.)

Stock of direct foreign investment - abroad:
$731.6 billion (31 December 2009 est.)

$726.3 billion (31 December 2008 est.)

Exchange rates:
Swiss francs (CHF) per US dollar - 1.1081 (2009), 1.0774 (2008), 1.1973 (2007), 1.2539 (2006), 1.2452 (2005)


NOTE: The information regarding Switzerland on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Switzerland Economy 2010 information contained here. All suggestions for corrections of any errors about Switzerland Economy 2010 should be addressed to the CIA.



- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

http://www.workmall.com/wfb2010/switzerland/switzerland_economy.html

This page was last modified 08-Feb-10
Copyright © 1995-2010 ITA all rights reserved.