Economy - overview Switzerland is a prosperous and stable modern market economy with a per capita GDP higher than that of the big western European economies. The Swiss in recent years have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness. Although the Swiss are not pursuing full EU membership in the near term, in 1999 Bern and Brussels signed agreements to further liberalize trade ties. They continue to discuss further areas for cooperation. Switzerland remains a safe haven for investors, because it has maintained a degree of bank secrecy and has kept up the franc's long-term external value. The GDP growth rate dipped to 1.6% in 2001, and the government projects that it will slow further to 1.3% in 2002.

GDP purchasing power parity - $226 billion (2001 est.)

GDP - real growth rate 1.6% (2001 est.)

GDP - per capita purchasing power parity - $31,100 (2001 est.)

GDP - composition by sector
agriculture: 2%
industry: 34%
services: 64% (2001 est.)

Population below poverty line NA%

Household income or consumption by percentage share
lowest 10%: 2.8%
highest 10%: 25.2% (1992)

Distribution of family income - Gini index 33.1 (1992)

Inflation rate (consumer prices) 1% (2001)

Labor force 4 million (2001)

Labor force - by occupation services 69.1%, industry 26.3%, agriculture 4.6% (1998)

Unemployment rate 1.8% (2001)

Budget
revenues: $30 billion
expenditures: $30 billion, including capital expenditures of $NA (2001 est.)

Industries machinery, chemicals, watches, textiles, precision instruments

Industrial production growth rate 3.2% (2001)

Electricity - production 64.182 billion kWh (2000)

Electricity - production by source
fossil fuel: 3.96%
hydro: 56.81%
other: 2.3% (2000)
nuclear: 36.93%

Electricity - consumption 52.62 billion kWh (2000)

Electricity - exports 31.4 billion kWh (2000)

Electricity - imports 24.33 billion kWh (2000)

Agriculture - products grains, fruits, vegetables; meat, eggs

Exports $91.4 billion (f.o.b., 2001)

Exports - commodities machinery, chemicals, metals, watches, agricultural products

Exports - partners EU 59% (Germany 21%, France 9%, Italy 8%, UK 6%, Austria 3%), US 13%, Japan 4% (2000)

Imports $91.4 billion (f.o.b., 2001)

Imports - commodities machinery, chemicals, vehicles, metals; agricultural products, textiles

Imports - partners EU 74% (Germany 29%, France 10%, Italy 9%, Netherlands 6%, UK 6%), US 8%, Japan 3% (2000)

Debt - external $NA

Economic aid - donor ODA, $1.1 billion (1995)

Currency Swiss franc (CHF)

Currency code CHF

Exchange rates Swiss francs per US dollar - 1.6668 (January 2002), 1.6876 (2001), 1.6888 (2000), 1.5022 (1999), 1.4498 (1998), 1.4513 (1997)

Fiscal year calendar year

NOTE: The information regarding Switzerland on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Switzerland Economy 2002 information contained here. All suggestions for corrections of any errors about Switzerland Economy 2002 should be addressed to the CIA.