Switzerland's gross domestic product grew by 0.3 percent on quarter in October-December 2020, easing from an upwardly revised 7.6 percent expansion in the previous period and beating market expectations of a flat reading. The economy was again hit by the tightening of the containment measures to curb the spread of a second wave of coronavirus infections at the end of last year. Private consumption contracted considerably (-1.5 percent vs 12.2 percent), as a slump in spending on hospitality and leisure services offset increases in expenditure on food and other goods such as electronics. On the other hand, investment rose, mostly in equipment and software (1.9 percent vs 9.4 percent), and government consumption rebounded firmly (2.3 percent vs -0.1 percent). Net external demand also contributed positively to the GDP as exports fell less than imports. Year-on-year, the economy shrank 1.6 percent. Considering 2020 as a whole, the GDP dropped 2.9 percent. source: State Secretariat for Economic Affairs

GDP Growth Rate in Switzerland averaged 0.43 percent from 1980 until 2020, reaching an all time high of 7.60 percent in the third quarter of 2020 and a record low of -7.20 percent in the second quarter of 2020. This page provides - Switzerland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Switzerland GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.

GDP Growth Rate in Switzerland is expected to be -0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Switzerland to stand at 1.50 in 12 months time. In the long-term, the Switzerland GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Switzerland GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.30 7.60 7.60 -7.20 1980 - 2020 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-03 05:45 AM Q1 -2.6% 0.3% -2% -2.4%
2020-08-27 05:45 AM Q2 -8.2% -2.5% -8.6% -8.4%
2020-12-01 06:45 AM Q3 7.2% -7% 5.9% 6.5%
2021-02-26 08:00 AM Q4 0.3% 7.6% 0% 0.2%
2021-06-01 07:00 AM Q1 0.3% -1.8%
2021-09-02 07:00 AM Q2
2021-11-26 08:00 AM Q3


News Stream
Swiss Economy Grows Unexpectedly in Q4
Switzerland's gross domestic product grew by 0.3 percent on quarter in October-December 2020, easing from an upwardly revised 7.6 percent expansion in the previous period and beating market expectations of a flat reading. The economy was again hit by the tightening of the containment measures to curb the spread of a second wave of coronavirus infections at the end of last year. Private consumption contracted considerably (-1.5 percent vs 12.2 percent), as a slump in spending on hospitality and leisure services offset increases in expenditure on food and other goods such as electronics. On the other hand, investment rose, mostly in equipment and software (1.9 percent vs 9.4 percent), and government consumption rebounded firmly (2.3 percent vs -0.1 percent). Net external demand also contributed positively to the GDP as exports fell less than imports. Year-on-year, the economy shrank 1.6 percent. Considering 2020 as a whole, the GDP dropped 2.9 percent.
2021-02-26
Swiss GDP Expands the Most Since 1980
The Swiss economy grew by 7.2 percent on quarter in the third quarter of 2020, the most since at least 1980, after a historic plunge of 7 percent in the prior three month period, as economic activity recovered from COVID-19 shutdowns. Still, the bounce left the economy about 2 percent smaller than before the pandemic, much less than the gaps seen across major euro-area countries. Private consumption rebounded sharply (11.9 percent vs -8.1 percent in Q2) as well as investment in equipment (8.8 percent vs -10.1 percent). Also, government spending rose 0.2 percent after being flat in the June quarter. Meanwhile, imports grew by 11.2 percent, while exports rose at a softer 6.9 percent. On the production side, there was an upturn in the manufacturing sector. Also, the service sector recovered significantly, supported by hospitality, company-related services, health, and entertainment, recreation.
2020-12-01
Swiss Q2 GDP Contraction Revised, Still Highest on Record
The Swiss GDP shrank 7.3 percent on quarter in the three months to June 2020, the most since comparable records began in 1980, as the economy was severely hit by measures taken to contain the spread of COVID-19, revised figures showed at the end of September. Preliminary estimates released in August had pointed to a steeper 8.2 percent contraction. Private consumption tumbled 8.1 percent (vs -4.0 percent in Q1) as well as investment in both equipment and software (-10.0 percent vs -5.2 percent) and construction (-4.3 percent vs 0.3 percent). At the same time, exports and imports fell sharply, while government spending growth stalled. On the production side, the service sector was particularly affected by business closures and restrictions, with sizable declines in accommodation & food services, transport & communications, healthcare, business-related services and trade. Also, the manufacturing sector collapsed led by machinery & metals, as well as precision instruments and watchmaking.
2020-09-28
Swiss Q2 GDP Contracts at Record Pace
The Swiss GDP shrank 8.2 percent on quarter in the three months to June 2020, the most since comparable records began in 1980 and compared with market consensus of an 8.6 percent contraction, as the economy was severely hit by measures taken to contain the spread of COVID-19. Private consumption tumbled 8.6 percent (vs -4.7 percent in Q1) as well as investment in both equipment and software (-11.7 percent vs -4.7 percent) and construction (-4 percent vs 0.5 percent). At the same time, exports and imports fell sharply, while government spending growth slowed to 0.2 percent from 0.8 percent. On the production side, the service sector was particularly affected by business closures and restrictions, with sizable declines in accommodation & food services, transport & communications, healthcare, business-related services and trade. Also, the manufacturing sector collapsed led by machinery & metals, as well as precision instruments and watchmaking.
2020-08-27

Switzerland GDP Growth Rate
On the expenditure side, household consumption is the main component of Swiss GDP and accounts for 54 percent of its total, followed by gross fixed capital formation (24 percent) and government expenditure (11 percent). Foreign trade adds 11 percent to GDP as exports account for 64 percent and imports for 53 percent.