The Swiss economy grew by 0.7 percent on quarter in the three months to June 2018, following an upwardly revised 1 percent expansion in the previous period and beating market consensus of 0.5 percent. GDP expanded at an above average rate for the fifth quarter in a row mainly supported by a strong increase in exports of goods despite global trade disputes. GDP Growth Rate in Switzerland averaged 0.44 percent from 1980 until 2018, reaching an all time high of 2.40 percent in the fourth quarter of 1999 and a record low of -1.90 percent in the fourth quarter of 2008.

Switzerland GDP Growth Rate
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Swiss Q2 GDP Growth Stronger than Expected


The Swiss economy grew by 0.7 percent on quarter in the three months to June 2018, following an upwardly revised 1 percent expansion in the previous period and beating market consensus of 0.5 percent. GDP expanded at an above average rate for the fifth quarter in a row mainly supported by a strong increase in exports of goods despite global trade disputes.

On the expenditure side, exports of goods jumped by 2.6 percent in the second quarter (vs 0.6 percent in Q1), while imports dropped 1.1 percent (vs 2.3 percent in Q1). Meanwhile, exports of services edged up by 0.1 percent (vs -0.6 percent in Q1) and imports increased at a slightly faster 0.2 percent (vs -2.8 percent in Q1).

In addition, household consumption rose by 0.3 percent, easing from a 0.4 percent advance in the previous quarter, in particular due to lower energy consumption because of weather conditions. Investment in construction grew by 0.8 percent (vs 0.2 percent in Q1) while that in equipment and software declined 0.3 percent (vs 1.9 percent in Q1). Government spending increased by 0.1 percent, after being unchanged in the prior quarter.

On the production side, manufacturing provided the most substantial boost to growth in the second quarter (1.5 percent) underpinned by robust foreign demand and the favourable exchange rate movements compared to recent years. Also, energy sector output surged by 4.8 percent thanks to marked growth in energy production from hydropower and nuclear power plants. Within services activities, growth was recorded in: accommodation and food services (1.4 percent); financial and other services (0.4 percent); and the entertainment sector (10.1 percent); the health sector (0.5 percent); and business-related services (0.3 percent). Finally, trade (-0.2 percent) suffered a drop in value added, triggered in particular by sluggish growth in wholesale. 

Year-on-year, the GDP grew by 3.4 percent in the second quarter, following an upwardly revised 2.9 percent expansion in the previous period and easily beating forecasts of a 2.4 percent advance. It was the strongest annual expansion since the last quarter of 2010.



SECO | Rida | rida@tradingeconomics.com
9/6/2018 10:39:37 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-03-01 06:45 AM GDP Growth Rate QoQ 0.6% 0.7% 0.6% 0.7%
2018-05-31 05:45 AM GDP Growth Rate QoQ 0.6% 0.6% 0.5% 0.5%
2018-09-06 05:45 AM GDP Growth Rate QoQ 0.7% 1% 0.5% 0.5%
2018-11-29 06:45 AM GDP Growth Rate QoQ 0.7% 0.6%


Switzerland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 1.00 2.40 -1.90 percent [+]
GDP Annual Growth Rate 3.40 2.90 5.80 -3.70 percent [+]
GDP 678.89 668.75 709.18 9.52 USD Billion [+]
GDP Constant Prices 175638.02 174381.95 175638.02 89780.29 CHF Million [+]
Gross Fixed Capital Formation 43515.30 43465.50 43515.30 18652.50 CHF Million [+]
GDP per capita 76667.44 76682.64 76682.64 54420.97 USD [+]
GDP per capita PPP 57410.17 57421.55 57421.55 46129.44 USD [+]


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. This page provides - Switzerland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Switzerland GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 1.00 2.40 -1.90 1980 - 2018 percent Quarterly
SA, WDA




Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Germany -0.20 Sep/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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