Solid economic fundamentals help cushion the growth headwinds

AA1

LOW RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in January 2024.

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GDP
USD807.7bn (World ranking 20, World Bank 2022)
Population
8.8mn (World ranking 100, World Bank 2022)
Form of state Confederation
Head of government Viola Amherd (President for 2024)
Next elections 2027, legislative
  • Competitive high-income economy
  • Sound political institutions
  • Specialization in high-quality exports for which demand is relatively insensitive to exchange rate moves
  • Healthy public finances
  • Strong external position
  • Overvalued CHF due to safe haven role
  • Strong dependence on financial and export sectors
  • Rising labor costs and stagnant productivity growth
  • Financial sector’s exposure to real estate lending (around 85% of domestic assets are concentrated in mortgages)
  • Unfavorable demographics

Trade structure by destination/origin

(% of total, 2022)

Exports Rank Imports
United States 16.2%
1
19.7% Germany
Germany 13.3%
2
10.7% United States
China 11.0%
3
7.0% Italy
Italy 6.4%
4
6.5% France
France 5.3%
5
6.1% China

Trade structure by product

(% of total, 2022)

Exports Rank Imports
Gold, non-monetary (excluding gold ores and concentrates) 25.1%
1
28.3% Gold, non-monetary (excluding gold ores and concentrates)
Medicinal and pharmaceutical products 24.8%
2
13.9% Medicinal and pharmaceutical products
Organic chemicals 7.3%
3
4.6% Road vehicles
Photo apparatus, optical goods, watches and clocks 6.6%
4
3.1% Electrical machinery, apparatus and appliances, n.e.s.
Other industrial machinery and parts 2.8%
5
2.6% Electric current