Switzerland is one of the top 10 economies by GDP per capita ranking (USD 92,000 in 2022). Approximately 74% of Swiss GDP is generated by the services sector and 25% by industry. The agricultural sector contributes less than 1%. The EU is Switzerland's main trading partner.

Switzerland has proved resilient through the pandemic, geopolitical turmoil and reverberations in energy markets. Unemployment and inflation are low, and living standards are among the highest in the OECD. This is reinforced by a dynamic market-based economy, highly skilled workforce and prudent macroeconomic policies.

Our Forecasts Switzerland's economy in numbers: Nominal GDP of USD 819 billion in 2022. Nominal GDP of USD 895 billion in 2023. GDP per capita of USD 101,497 compared to the global average of USD 10,589. GDP per capita of USD 93,664 compared to the global average of USD 10,589. Average real GDP growth of 1.9% over the last decade.

EIU expects real GDP growth to remain lacklustre in 2024, given continued weak domestic demand and the poor external environment, which will dampen demand for exports. We expect stronger rates of growth from 2025 as monetary policy loosening feeds through to the real economy.

GDP (current US$) - Switzerland

agricultural land: 38.7% (2018 est.) arable land: 10.2% (2018 est.) permanent crops: 0.6% (2018 est.) permanent pasture: 27.9% (2018 est.) forest: 31.5% (2018 est.) other: 29.8% (2018 est.)

The sluggish economy in the eurozone and interest rate rises in many countries will continue to have an impact on the Swiss economy next year. The State Secretariat for Economic Affairs (SECO) is forecasting GDP growth of 1.1%, down from 1.3% in 2023, the second year in a row that growth will be well below average.

Overview of the different statistics related to the national economy and new developments in this area

Switzerland has proved resilient through the pandemic, geopolitical turmoil and reverberations in energy markets. Unemployment and inflation are low, and living standards are among the highest in the OECD. This is reinforced by a dynamic market-based economy, highly skilled workforce and prudent macroeconomic policies.