
SWITZERLAND
Solid economic fundamentals help cushion the growth headwinds
AA1
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in November 2022.
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GDP |
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Population |
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Form of state | Confederation (but similar to a federal republic) | |
Head of government |
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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, 2021)
Exports | Rank | Imports |
---|---|---|
United States
16.5%
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1 |
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Germany
14.5%
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2 |
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China
8.7%
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3 |
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India
8.3%
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4 |
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Italy
5.3%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Medicinal and pharmaceutical products
27.1%
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1 |
29.0%
Gold, non-monetary (excluding gold ores and concentrates)
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Gold, non-monetary (excluding gold ores and concentrates)
22.9%
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2 |
13.3%
Medicinal and pharmaceutical products
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Organic chemicals
7.3%
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3 |
6.2%
Miscellaneous manufactured articles, n.e.s.
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Photo apparatus, optical goods, watches and clocks
6.6%
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4 |
4.9%
Road vehicles
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Miscellaneous manufactured articles, n.e.s.
6.3%
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5 |
3.5%
Electrical machinery, apparatus and appliances, n.e.s.
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Collection Complexity
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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