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Switzerland's economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Switzerland ranked 20/197 by economy size with a GDP of $937B and 5/197 by GDP per capita at $103,670. Switzerland has $352B in government debt, with a debt-to-GDP ratio of 36.9%.

In 2025, Switzerland made up 0.84% of the world's economy, compared to 0.76% in 1960.

The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.

GDP, current $
GDP, constant 2015 $
GDP growth
Year GDP GDP growth
Current $ Constant $
1960 $10,412,232,621 $212,618,998,245 -
1961 $11,713,348,834 $229,859,575,871 12.5%
1962 $12,989,649,694 $240,869,714,665 10.9%
1963 $14,283,872,299 $252,622,227,587 9.96%
1964 $15,833,133,858 $265,900,938,033 10.8%
1965 $16,780,226,225 $271,496,969,295 5.98%
1966 $18,019,402,374 $278,179,751,690 7.38%
1967 $19,397,044,714 $286,680,708,388 7.65%
1968 $20,712,102,794 $296,966,886,752 6.78%
1969 $22,442,043,274 $313,694,770,516 8.35%
1970 $24,998,066,773 $333,700,361,262 11.4%
1971 $30,040,171,751 $347,300,128,063 20.2%
1972 $36,844,318,854 $358,415,499,097 22.7%
1973 $49,550,006,320 $369,346,839,843 34.5%
1974 $57,103,011,446 $374,720,496,122 15.2%
1975 $65,466,081,819 $347,428,948,950 14.6%
1976 $68,476,524,644 $342,552,172,035 4.6%
1977 $73,135,771,167 $350,888,700,310 6.8%
1978 $102,280,472,036 $352,324,128,999 39.9%
1979 $114,970,094,425 $361,102,327,237 12.4%
1980 $122,557,843,886 $377,720,174,386 6.6%
1981 $112,244,805,519 $383,768,743,424 -8.41%
1982 $115,043,365,512 $378,743,607,969 2.49%
1983 $114,634,358,535 $381,164,080,265 -0.36%
1984 $109,455,312,168 $392,631,236,095 -4.52%
1985 $110,980,314,192 $407,054,920,692 1.39%
1986 $159,089,921,063 $414,620,577,536 43.3%
1987 $199,236,370,038 $421,194,295,501 25.2%
1988 $215,540,625,299 $434,999,344,090 8.18%
1989 $208,105,846,934 $453,838,270,541 -3.45%
1990 $265,763,573,999 $470,515,127,362 27.7%
1991 $268,901,693,863 $466,206,071,643 1.18%
1992 $279,921,425,828 $466,002,185,701 4.1%
1993 $272,237,527,071 $465,415,100,022 -2.75%
1994 $301,375,055,202 $471,324,744,553 10.7%
1995 $352,835,806,342 $473,591,186,765 17.1%
1996 $340,103,959,547 $475,823,127,431 -3.61%
1997 $294,788,198,856 $486,583,036,191 -13.3%
1998 $303,459,014,347 $501,326,352,837 2.94%
1999 $297,873,643,323 $509,661,911,367 -1.84%
2000 $279,216,033,870 $529,837,998,914 -6.26%
2001 $286,582,672,434 $538,186,454,855 2.64%
2002 $309,301,422,430 $537,792,409,496 7.93%
2003 $362,075,086,508 $537,618,173,222 17.1%
2004 $403,912,891,033 $552,143,052,490 11.6%
2005 $418,284,865,885 $567,325,325,069 3.56%
2006 $441,634,672,197 $590,436,050,733 5.58%
2007 $490,740,715,595 $613,559,745,175 11.1%
2008 $567,267,767,519 $630,788,402,146 15.6%
2009 $554,212,916,092 $616,296,830,084 -2.3%
2010 $598,851,027,948 $636,285,783,947 8.05%
2011 $715,888,126,682 $647,822,334,336 19.5%
2012 $686,420,221,558 $655,461,804,172 -4.12%
2013 $706,234,937,371 $667,208,623,614 2.89%
2014 $726,537,809,430 $682,887,235,060 2.87%
2015 $694,118,186,380 $694,118,186,380 -4.46%
2016 $687,895,460,903 $708,477,337,740 -0.9%
2017 $695,200,834,102 $718,132,464,454 1.06%
2018 $725,568,717,468 $738,674,254,332 4.37%
2019 $721,369,112,727 $747,109,782,756 -0.58%
2020 $741,999,406,006 $731,108,655,211 2.86%
2021 $815,309,330,987 $771,755,519,734 9.88%
2022 $828,508,926,958 $795,248,228,755 1.62%
2023 $894,424,821,645 $800,682,383,958 7.96%
2024 $936,564,198,049 $811,109,937,475 4.71%

Economic Statistics of Switzerland

Switzerland Rank
Gross domestic product
$937B
2024
20/197
GDP growth
4.71%
2023-2024
116/196
GDP per capita
$103,670
2024
5/197
GDP per capita, PPP
$93,819
2024
8/197
Government debt
$352B
2024
28/185
Debt-to-GDP ratio
36.9%
2025
142/185
Government debt per person
$38,957
2024
14/185
Average annual personal income after taxes
$88,321
2025
3/197
Listed domestic companies
206
2024
32/103
Market capitalization of domestic companies
$1.97T
2024
10/100
Number of millionaires
1,054,293
2024
13/34
Millionaire frequency
1 in 7
2024
1/34
Number of billionaires
42
2025
16/78
Billionaire frequency
1 in 172,418
2025
6/78
Income share by richest 10%
26.6%
2022
95/169
Income share by poorest 10%
2.9%
2022
78/169
Government expenditure, % of GDP
32.1%
2025
86/195
Consumer prices inflation
1.06%
2023-2024
170/195
Central bank interest rate
0%
2025
105/105
Unemployment rate
4.34%
2024
117/196
Population
9112950
101/197

Switzerland's GDP per capita

Switzerland has a GDP per capita of $103,670, ranking 5/197, a GDP per capita based on purchasing power parity (PPP) of $93,819, ranking 8/197, and a median annual after tax income of $88,321, ranking 3/197.

GDP per capita
GDP per capita, PPP
Year Current $
GDP per capita GDP per capita, PPP
1960 $1,954 -
1961 $2,155 -
1962 $2,330 -
1963 $2,508 -
1964 $2,735 -
1965 $2,865 -
1966 $3,045 -
1967 $3,237 -
1968 $3,413 -
1969 $3,657 -
1970 $4,044 -
1971 $4,835 -
1972 $5,885 -
1973 $7,856 -
1974 $9,005 -
1975 $10,328 -
1976 $10,865 -
1977 $11,644 -
1978 $16,282 -
1979 $18,266 -
1980 $19,394 -
1981 $17,665 -
1982 $18,000 -
1983 $17,859 -
1984 $16,991 -
1985 $17,152 -
1986 $24,460 -
1987 $30,441 -
1988 $32,690 -
1989 $31,309 -
1990 $39,575 $28,442
1991 $39,544 $28,773
1992 $40,714 $29,093
1993 $39,237 $29,476
1994 $43,092 $30,245
1995 $50,114 $30,821
1996 $48,093 $31,498
1997 $41,584 $32,728
1998 $42,681 $33,858
1999 $41,696 $34,743
2000 $38,865 $36,695
2001 $39,639 $37,823
2002 $42,459 $38,705
2003 $49,336 $38,737
2004 $54,659 $40,177
2005 $56,243 $41,525
2006 $59,011 $46,276
2007 $64,989 $50,929
2008 $74,175 $53,809
2009 $71,568 $52,971
2010 $76,531 $54,432
2011 $90,477 $57,494
2012 $85,836 $59,441
2013 $87,304 $61,656
2014 $88,725 $63,417
2015 $83,806 $65,283
2016 $82,153 $67,351
2017 $82,254 $68,194
2018 $85,217 $70,689
2019 $84,122 $73,732
2020 $85,898 $72,998
2021 $93,665 $81,001
2022 $94,395 $91,326
2023 $100,632 $90,506
2024 $103,670 $93,819

Switzerland's government spending, deficit, and chart

This chart shows Switzerland's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 50 years, Switzerland recorded a fiscal deficit in 28 years — average annual deficit equal to -0.49% of GDP. In 2024, government spending reached $299B (32.1% of GDP), with a surplus of +0.26%.

The national debt reached $352B, ranking 28th out of 185 countries by total size, with a debt-to-GDP ratio of 36.9%, ranking 142nd.

Government spending
Government debt
Deficit/surplus
Year % of GDP
Government spending Government debt Government deficit/surplus
1899 3.87% 3.56% 0.1%
1900 4.03% 3.63% -0.07%
1901 4.07% 3.41% -0.14%
1902 3.94% 3.33% 0.02%
1903 3.8% 4.09% 0.09%
1904 3.93% 3.47% 0.002%
1905 3.79% 3.3% 0.41%
1906 3.91% 3.04% 0.15%
1907 4.03% 2.69% -0.02%
1908 4.37% 2.92% -0.1%
1909 5.1% 3.45% -0.78%
1910 4.15% 3.17% -0.14%
1911 2.39% 2.9% -0.006%
1912 2.45% 2.84% 0.03%
1913 2.45% 2.7% -0.12%
1914 - - -0.12%
1915 - - -0.12%
1916 - - -0.12%
1917 - - -0.12%
1918 - - -0.12%
1919 - - -0.12%
1920 - - -0.12%
1921 - - -0.12%
1922 - - -0.12%
1923 - - -0.12%
1924 - - -0.12%
1925 - - -0.12%
1926 - - -0.12%
1927 - - -0.12%
1928 - - -0.12%
1929 4.19% 22.7% 0.22%
1930 4.29% 22.7% 0.07%
1931 4.65% 23.5% 0.03%
1932 5.46% 25.9% -0.3%
1933 5.89% 26.7% -0.88%
1934 5.92% 28.1% -0.33%
1935 6.27% 28.8% -0.23%
1936 6.74% 33.5% -0.33%
1937 6.12% 30.5% -0.17%
1938 7.61% 31.2% -1.53%
1939 11.5% 37.3% -5.05%
1940 18.1% 45% -10%
1941 17.3% 52.4% -8.78%
1942 14.5% 57.2% -7.28%
1943 15.2% 63% -8.55%
1944 16.2% 73.2% -9.37%
1945 13.9% 78.9% -7.57%
1946 11.1% 74.5% 0.52%
1947 8.74% 62.6% 1.27%
1948 9.95% 43.4% 1.37%
1949 9.37% 44.4% 0.04%
1950 8.58% 39.1% 1.49%
1951 8.66% 36.1% -0.36%
1952 10% 34% -1.17%
1953 7.95% 32.7% 0.38%
1954 7.81% 31% 1.44%
1955 7.24% 28.3% 1.1%
1956 6.79% 25.9% 2.24%
1957 7.34% 22.5% 0.66%
1958 8.47% 20.4% 0.59%
1959 7.43% 18.7% 0.72%
1960 7.11% 16.2% 1.95%
1961 7.97% 14% 0.34%
1962 8.1% 12% 0.95%
1963 8.2% 10.8% 0.25%
1964 8.85% 9.43% 0.77%
1965 8.33% 8.28% 0.05%
1966 8.95% 7.62% -0.87%
1967 8.68% 7.26% -1.07%
1968 8.87% 6.99% -0.73%
1969 9.45% 7.08% -0.98%
1970 25.8% 38.9% -1.44%
1971 25.4% 38.7% -1.41%
1972 25.7% 38% -1.39%
1973 26.5% 37% -0.93%
1974 27.5% 38.4% -1.01%
1975 29.3% 42.3% -0.93%
1976 31.6% 46.7% -1.89%
1977 31% 46.9% -1.64%
1978 30.4% 46.6% -1.12%
1979 30.5% 44.6% -1.79%
1980 29.9% 43.9% -1.34%
1981 29.4% 40.8% -0.54%
1982 30.5% 40% -1.21%
1983 31.2% 40.2% -1.23%
1984 30.4% 39.8% -0.52%
1985 30.1% 39.1% -0.25%
1986 29.8% 37.6% 0.93%
1987 29.8% 36.5% 0.78%
1988 30.3% 35% 0.42%
1989 30% 32.5% 0.2%
1990 27.6% 33.3% -0.05%
1991 29.5% 35.1% -1.85%
1992 31.3% 39.5% -2.96%
1993 32.5% 44.4% -3.15%
1994 32.5% 47.1% -2.59%
1995 32.4% 50% -1.86%
1996 33% 51.3% -2.01%
1997 32.9% 53.7% -2.33%
1998 32.7% 55.9% -1.31%
1999 33.2% 52.7% -1.57%
2000 32.2% 52.2% 0.28%
2001 31.6% 51.1% 0.21%
2002 34.1% 57.7% -1.75%
2003 33.2% 56.9% -1.36%
2004 33.1% 57.8% -1.39%
2005 32.4% 54.9% -0.65%
2006 30.5% 48.5% 0.85%
2007 29.4% 44.8% 1.57%
2008 30% 44.8% 1.93%
2009 31.8% 43.1% 0.5%
2010 31.4% 41.5% 0.35%
2011 31.4% 41.9% 0.68%
2012 31.6% 42.6% 0.24%
2013 32.5% 41.9% -0.43%
2014 32.2% 42.1% -0.25%
2015 32.5% 42.2% 0.55%
2016 32.4% 40.9% 0.24%
2017 32.4% 41.8% 1.13%
2018 31.7% 39.8% 1.29%
2019 32% 39.6% 1.34%
2020 37% 43.2% -3.01%
2021 34.4% 41% -0.29%
2022 31.6% 37.2% 1.19%
2023 32.1% 38.7% 0.12%
2024 32% 37.6% 0.58%
2025 32.1% 36.9% 0.26%

Inflation rate by year

Over the past 20 years, Switzerland has had an average annual inflation rate of 0.55%. In 2024, inflation was 1.06%. The bar chart below shows consumer price inflation by year.

Year Inflation
1960 1.44%
1961 1.85%
1962 4.32%
1963 3.44%
1964 3.08%
1965 3.41%
1966 4.78%
1967 4.01%
1968 2.4%
1969 2.49%
1970 3.62%
1971 6.57%
1972 6.66%
1973 8.75%
1974 9.77%
1975 6.7%
1976 1.72%
1977 1.3%
1978 1.03%
1979 3.65%
1980 4.02%
1981 6.49%
1982 5.66%
1983 2.95%
1984 2.93%
1985 3.44%
1986 0.75%
1987 1.44%
1988 1.87%
1989 3.16%
1990 5.4%
1991 5.86%
1992 4.04%
1993 3.29%
1994 0.85%
1995 1.8%
1996 0.81%
1997 0.52%
1998 0.02%
1999 0.81%
2000 1.56%
2001 0.99%
2002 0.64%
2003 0.64%
2004 0.8%
2005 1.17%
2006 1.06%
2007 0.73%
2008 2.43%
2009 -0.48%
2010 0.69%
2011 0.23%
2012 -0.69%
2013 -0.22%
2014 -0.01%
2015 -1.14%
2016 -0.43%
2017 0.53%
2018 0.94%
2019 0.36%
2020 -0.73%
2021 0.58%
2022 2.84%
2023 2.14%
2024 1.06%

Balance of trade

Switzerland Rank
Current account balance
$47.2B
2024
12/189
Current account balance, % of GDP
+5.04%
2024
31/189
Goods imports
$368B
2024
16/188
Goods exports
$495B
2024
12/188
Service imports
$215B
2024
10/188
Service exports
$180B
2024
12/188
Imports of goods and services, % of GDP
61.9%
2024
46/180
Exports of goods and services, % of GDP
72.2%
2024
25/193

Switzerland's top 10 trading partners

Switzerland's biggest trading partner accounting for 15%% of all exports and imports is Germany, with a trade balance between the two of -$16.6B — Switzerland exports $51.4B worth of goods and services to Germany and imports $68B.

Below is the list of the top 10 trade partners of Switzerland.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 Germany $119B 15% $51.4B $68B Chemicals & pharma Machinery & equipment
2 United States $103B 13% $73.7B $29.3B Chemicals & pharma IT & IP services
3 China $62.7B 7.9% $42.4B $20.3B Precious metals & jewellery Machinery & equipment
4 Italy $58.3B 7.35% $28B $30.4B Chemicals & pharma Chemicals & pharma
5 Slovenia $50.4B 6.35% $30B $20.4B Chemicals & pharma Chemicals & pharma
6 France $42.2B 5.32% $21.1B $21.1B Precious metals & jewellery Precious metals & jewellery
7 United Kingdom $31B 3.91% $22.5B $8.53B Precious metals & jewellery Precious metals & jewellery
8 India $25.6B 3.23% $22.6B $3.02B Precious metals & jewellery IT & IP services
9 UAE $24.4B 3.08% $11.3B $13.1B Precious metals & jewellery Precious metals & jewellery
10 Austria $19.5B 2.45% $8.74B $10.7B Chemicals & pharma Chemicals & pharma

Switzerland's top 10 exports

Switzerland Rank
Chemicals & pharma $172B 4/193
Precious metals & jewellery $169B 1/190
Machinery & equipment $66.5B 27/193
Business & finance services $50.4B 12/188
IT & IP services $44.9B 7/183
Transport & tourism services $42.4B 21/188
Textiles & consumer goods $9.33B 32/193
Metals $8.29B 38/192
Raw materials & minerals $7.1B 66/193
Processed food, beverages & tobacco $6.18B 36/192

Switzerland's top 10 imports

Switzerland Rank
Precious metals & jewellery $130B 1/193
Chemicals & pharma $90.1B 7/193
Machinery & equipment $72.3B 30/193
Transport & tourism services $55.2B 13/188
IT & IP services $47.2B 6/182
Business & finance services $40.1B 15/188
Textiles & consumer goods $23.9B 18/193
Raw materials & minerals $15.2B 41/193
Metals $12.8B 30/193
Processed food, beverages & tobacco $9.46B 28/193

Economic freedom indices

Switzerland Rank
Economic freedom 83.7 2/197
Property rights 94.5 13/182
Government integrity 92.3 13/182
Judicial effectiveness 99.3 13/182
Tax burden 70.9 143/181
Government spending 68 109/180
Fiscal health 97.6 13/181
Business freedom 88.8 6/182
Labor freedom 60.5 61/182
Monetary freedom 80.7 5/180
Trade freedom 86.6 7/181
Investment freedom 85 12/181
Financial freedom 80 12/181

Switzerland's economic freedom by year

Switzerland is ranked 2/180 for economic freedom with a score of 83.7, compared to 5/163 and a score of 79.3 in 2005.

Economic freedom
Judicial effectiveness
Tax burden
Government spending
Fiscal health
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
1996 76.8 - 78 53.4 -
1997 78.6 - 77.7 54.4 -
1998 79 - 77.4 56.2 -
1999 79.1 - 80.4 54.4 -
2000 76.8 - 80.7 28 -
2001 76 - 80.1 22 -
2002 79.3 - 80 56.7 -
2003 79 - 80.4 55.3 -
2004 79.5 - 80.6 55.8 -
2005 79.3 - 73 61.1 -
2006 78.9 - 73.4 61.1 -
2007 78 - 67.9 59.8 -
2008 79.5 - 68 61.6 -
2009 79.4 - 67.5 65.3 -
2010 81.1 - 68.2 68.9 -
2011 81.9 - 68.4 69.3 -
2012 81.1 - 67.9 65.8 -
2013 81 - 68.1 63.8 -
2014 81.6 - 68.9 65.7 -
2015 80.5 - 70.3 65.1 -
2016 81 - 70.9 66.3 -
2017 81.5 77.6 70.9 67.5 95.8
2018 81.7 82.1 70.5 65.4 95.9
2019 81.9 82 70.5 64.8 96.3
2020 82 81.5 70.1 65.3 96.7
2021 81.9 82.2 70.4 67.6 96.9
2022 84.2 98 70.1 67.2 96.3
2023 83.8 92.3 70.6 63.9 95.4
2024 83 98.1 70.4 64.6 95.7
2025 83.7 99.3 70.9 68 97.6

More economic indicators

Switzerland Rank
Services, % of GDP
72%
2024
21/191
Industry, % of GDP
24.7%
2024
92/194
Agriculture, forestry, and fishing, % of GDP
0.63%
2024
180/193
GNI, Atlas method
$866B
2024
20/194
GNI per capita, PPP
$90,820
2024
7/191
Total reserves including gold
$909B
2024
4/177
Net foreign direct investment
$77.3B
2024
3/188
Net inflows of foreign direct investment
-$112B
2024
193/193
Net outflows of foreign direct investment
-$34.7B
2024
186/187
Poverty at national poverty lines
15.8%
2021
126/176
Gross capital formation, % of GDP
27%
2024
51/176

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GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.