The economy of Switzerland expanded 1.8% on quarter in the three months to June 2021, rebounding from a downwardly revised 0.4% drop in the previous period, as many coronavirus restrictions were lifted or relaxed. It compares with market forecasts of a 2% growth. The service sector recovered, boosted by the hotel and catering industry (48.9%) as catering establishments have been allowed to gradually reopen and domestic tourism has restarted, although the value created by the sector is still about half of that before the crisis. Other increases were also seen in the art, entertainment and leisure sector (52.9%), trade (4.8%) and transportation (1.9%) while financial services fell 0.7%. Meanwhile, private spending surged 4.1%, public expenditure 5.5% due to extraordinary spending to deal with the pandemic and investment in capital goods 1.6%. Year-on-year, the economy expanded at a record 7.7%, although below forecasts of 9%. source: State Secretariat for Economic Affairs

GDP Growth Rate in Switzerland averaged 0.44 percent from 1980 until 2021, reaching an all time high of 6.40 percent in the third quarter of 2020 and a record low of -6.20 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 October of 2021.

GDP Growth Rate in Switzerland is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Switzerland GDP Growth Rate is projected to trend around 0.80 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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Switzerland GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-06-01 07:00 AM Q1 -0.5% 0.3% -0.5% -0.3%
2021-09-02 07:00 AM Q2 1.8% -0.4% 2% 2%
2021-11-26 08:00 AM Q3 1.8% 4.1%


News Stream
Switzerland GDP Rebounds in Q2
The economy of Switzerland expanded 1.8% on quarter in the three months to June 2021, rebounding from a downwardly revised 0.4% drop in the previous period, as many coronavirus restrictions were lifted or relaxed. It compares with market forecasts of a 2% growth. The service sector recovered, boosted by the hotel and catering industry (48.9%) as catering establishments have been allowed to gradually reopen and domestic tourism has restarted, although the value created by the sector is still about half of that before the crisis. Other increases were also seen in the art, entertainment and leisure sector (52.9%), trade (4.8%) and transportation (1.9%) while financial services fell 0.7%. Meanwhile, private spending surged 4.1%, public expenditure 5.5% due to extraordinary spending to deal with the pandemic and investment in capital goods 1.6%. Year-on-year, the economy expanded at a record 7.7%, although below forecasts of 9%.
2021-09-02
Switzerland Economy Back to Contraction
The Swiss economy shrank 0.5% on quarter in the first three months of 2021, reversing from a downwardly revised 0.1% growth in the previous period and in line with market forecasts. The services sector sank sharply due to the tightening of measures to fight COVID-19. The hotel and catering industry (-30.4%) recorded an even more severe decline than in the previous quarter: restaurants had to remain closed and the possibilities for international travel were very limited. The arts, entertainment and leisure sector (-5.1%) also posted a very negative quarterly result due to the tightening of health measures. The area of ??human health and social activities (-3%) also experienced a negative development, in part due to the postponement of planned interventions. As a result, private consumption has fallen a lot (-3.3%). In contrast, the industry has improved, with manufacturing surging 4.9% and preventing a further decline in GDP.
2021-06-01
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

Switzerland Last Unit Reference Previous Highest Lowest
GDP Growth Rate 1.80 percent Jun/21 -0.50 6.40 -6.20
GDP Annual Growth Rate 7.70 percent Jun/21 -0.70 7.70 -6.70
GDP Constant Prices 182933.62 CHF Million Jun/21 179708.33 183891.90 90471.89
Gross Fixed Capital Formation 47061.30 CHF Million Jun/21 46556.60 47849.30 19805.40


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.