GDP per capita in Switzerland
Switzerland - GDP per capita (U.S. Dollars)
Economic growth steady in Q1
The economy of Switzerland started the year on strong footing. According to data released by the State Secretariat for Economic Affairs (SECO) on 1 June, seasonally-adjusted economic growth came in at 0.6% on a quarter-on-quarter basis in the first quarter. Q1’s print matched the previous quarter’s expansion and surpassed analysts’ expectations of a slightly softer 0.5% expansion.
Growth in the first quarter was buttressed by a solid expansion in the domestic economy. Private consumption growth in Q1 went up from 0.2% quarter-on-quarter in Q4 to 0.4%. The expansion was underpinned by a solid labor market and higher wages. Fixed investment rebounded from a 0.4% drop in the final quarter of 2017 to a sharp 2.0% expansion. The recovery in fixed investment reflected a surge in fixed assets and software, which more than offset declining investment for construction. Government consumption, however, swung from a 0.5% expansion in the fourth quarter to a 0.3% contraction in the first quarter.
The external sector had a disappointing performance in the first quarter despite a weaker currency in the January-to-March period. Exports of goods and services plunged 0.9% in Q1, contrasting the revised 2.7% increase (previously reported: +2.6% quarter-on-quarter) recorded in the preceding quarter. Meanwhile, imports of goods and services expanded 1.5%, a swing from the sharp 5.6% contraction recorded in the fourth quarter. The turnaround in imports was driven by higher imports of chemical and pharmaceutical products, and vehicles and machinery.
On an annual basis, economic growth improved in the first quarter to 2.2%—the fastest pace in almost four years and a half and exceeding the 1.9% expansion recorded in the fourth quarter.
Met the why particular Consensus Forecast panelists expect the economy to expand 1.4% in 2018, which is unchanged from last month’s forecast. Our panelists expect growth to accelerate to 1.7% in 2019.
Switzerland - GDP per capita (USD) Data
|GDP per capita (USD)||83,922||90,015||84,897||81,248||82,892|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.0||6.27 %||Jun 14|
|Exchange Rate||1.00||-0.54 %||Jun 14|
|Stock Market||8,691||-0.82 %||Jun 14|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 31, 2018
The economy of Switzerland started the year on strong footing.
May 30, 2018
In May, the KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—dropped from a revised 113.3 points in April (previously reported: 115.3 points) to the series’ long-run average of 110 points in May.
May 25, 2018
The Swiss electorate will vote on 11 June on a radical proposal, known as the sovereign money initiative (Vollgeld), to overhaul the country’s banking and monetary systems.
May 7, 2018
Consumer prices rose 0.2% on a month-on-month basis in April, coming in slightly below March’s 0.4% increase.
May 2, 2018
In March, calendar-adjusted real retail sales contracted 1.8% from the same month a year prior, the largest contraction since December 2016 and coming in well below the 0.2% fall recorded in February.