Switzerland GDP Growth Rate

Last Release

Mar 31, 2024

Actual

0.5

Units In

0.3

Frequency

Quarterly

Next Release

Nov 29, 2024

Time to Release

2 Months 24 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
6.4 Sep 2020	-6.2 Jun 2020	0.44 %	1980-2024	State Secretariat for Economic Affairs

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.

Latest Updates

Switzerland's GDP grew by 0.7% on quarter in the three months to June of 2024, beating market forecasts and previous period's 0.5% gain. This marked the fastest economic expansion since the second quarter of 2022, mainly driven by an increase in manufacturing sector (2.6%). Moreover, services sector rose, particularly the accommodation and food services (2.7%) and human health and social work activities (1.1%), while construction industry saw a slight uptick of 0.1%. Meanwhile, retail trade sector tumbled 0.4% after two consecutive period of growth. On the expenditure side, private consumption grew by 0.3% while general government consumption rose by 0.2%. Net trade contributed negatively to the GDP, as goods exports plunged by 5% while goods imports plummeted by 13.8%. On an annual basis, the country's GDP grew by 1.8% in Q2 of 2024, accelerating from a 0.6% rise in the previous three-month period.