Switzerland

On track towards economic normalcy by 2022

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

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GDP
USD747,969bn (World ranking 18, World Bank 2020)
Population
8,637mn (World ranking 99, World Bank 2020)
Form of state Confederation (but similar to a federal republic)
Head of government
Guy Parmelin (President of the Swiss Confederation)
Next elections October 2023, 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, 2020)

Exports Rank Imports
United States 23.0%
1
19.5% Germany
Germany 15.4%
2
8.2% Italy
China 5.5%
3
7.2% United States
United Kingdom 5.3%
4
6.1% China
France 5.2%
5
5.9% France

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Medicinal and pharmaceutical products 28.3%
1
30.5% Gold, non-monetary (excluding gold ores and concentrates)
Gold, non-monetary (excluding gold ores and concentrates) 22.6%
2
13.6% Medicinal and pharmaceutical products
Organic chemicals 7.2%
3
6.8% Miscellaneous manufactured articles, n.e.s.
Miscellaneous manufactured articles, n.e.s. 5.9%
4
5.1% Road vehicles
Photo apparatus, optical goods, watches and clocks 5.8%
5
3.2% Electrical machinery, apparatus and appliances, n.e.s.
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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