Switzerland
Everything Palanor holds about Switzerland, in one place: 240 public signals, what its economy runs on, how often America’s largest companies name it, the news that names it, and Country Posture. Every figure is computed from stored readings and carries its source and date.
EuropeOECD
The latest read
- GDP in current U.S. dollars: $1,044 billion (2025); record high since 1960; 1y +7.6%.
- Real GDP growth: 1.3% (2025); 27th percentile since 1961; 1y −0.09 pts.
- Consumer price inflation: 0.15% (2025); 13th percentile since 1960; lowest since 2020; 1y −0.91 pts.
- Unemployment: 4.87% (2025); 93rd percentile since 1991; highest since 2021; 1y +0.53 pts.
- Household consumption, share of GDP: 49.5% of GDP (2025); 13th percentile since 1990; highest since 2020; 1y +0.22 pts.
- Net exports, share of GDP: 8.94% of GDP (2025); 60th percentile since 1990; lowest since 2020; 1y −3.11 pts.
- S&P 500 companies naming it on earnings calls: 0.88% of companies (2026-10-21); 12th percentile since Dec 2021; highest since Jul 17, 2026; 1y −1.16 pts.
Country Posture
What Switzerland’s economy is doing
Momentum
2025Inputs only. Did not pass the pre-registered back-test: 1996–2009: AUC 0.590 below 0.60; AUC 0.590 below the single-input baseline (0.624); 2010–2022: AUC 0.595 below 0.60; AUC 0.595 below the single-input baseline (0.641).
Inputs
| Real GDP growth | 1.3 |
| Growth against its three-year average | -0.6 |
| Change in unemployment | 0.5 |
| Change in the employment rate | -0.7 |
| Export volume growth | — |
| OECD leading indicator | — |
Resilience
202570Deep buffers
0 = thin buffers · 100 = deep buffers
Moved most by current account (down) since the year before.
Inputs
| Interest as a share of revenue (2024) | 0.9 | 89 |
| Budget balance (2024) | 0.5 | 75 |
| Reserves, months of imports | 13.1 | 82 |
| Current account | 6.2 | 57 |
| Governance (WGI mean) | 1.67 | 51 |
| External debt | — | — |
Pressure
2025Inputs only. Did not pass the pre-registered back-test: 1996–2009: AUC 0.657 below the single-input baseline (0.672).
Inputs
| Inflation | 0.2 |
| Change in inflation | -0.9 |
| Currency move against the dollar | -5.7% |
| Conflict deaths per million | 0.0 |
| Political stability | 1.12 |
| Private credit, three-year change | 1.1 |
| Bond spread over U.S. Treasuries | -4.0 |
Posture describes what an economy is doing; it is not a rating and never ranks countries. Each input is read against the country’s own history and against every other economy that year. An axis shows a score only after passing a back-test fixed before any result was computed. Method and back-test.
Country Schemas
Where Switzerland is in its cycles
Where Switzerland sits in eight long cycles, each read from published statistics against a method fixed before any reading was computed. A stage describes; it is not a rating, and no stage is better or worse than another.
- Development stage
High mass consumption100% · 2025
Pre-take-offTake-offDrive to maturityHigh mass consumption20002025
- Demographic stage
Low stationary98% · 2025
High stationaryEarly expandingLate expandingLow stationaryDeclining20002025
- Debt cycle stage
Deleveraging51% · 2025
Early cycleLeveragingLate cycleDeleveraging20002025
- External balance stage
Debt repayer40% · 2025
Immature debtorMature debtorDebt repayerImmature creditorMature creditorCredit disinvestor20002025
- Export structure stage
Complex exporter96% · 2025
Commodity-reliantDiversifyingManufacturing exporterComplex exporter20002025
- Structural pressure
Low99% · 2025
LowBuildingHighAcute20002025
- Middle-class stage
Affluent99% · 2025
Pre-middle-classEmerging middle classMiddle-class majorityAffluent20002025
- Electoral cycle
Mid-term90% · 2026-10
Post-electionMid-termPre-election2020-012026-10
Passport reach
Where a Switzerland passport opens doors
The share of world GDP, outside Switzerland itself, in the economies whose published rules let a holder of this passport in, as of October 2026. Palanor records the rules of destinations holding 88% of world GDP, from each government’s own list, and weights them by World Bank GDP for 2025. Rank is among 199 passports.
Work
33.5%rank 23 of 199
the right to work (free movement in full; treaty and working-holiday routes at half); 30 destinations in full, 3 at half.
Recorded changes
Reach is shown here and not weighted into Country Strength: it rewards membership of a free-movement area or a treaty more than the strength of an economy. Entry is always at the border officer’s discretion, and conditions (length of stay, fees, age limits) vary. Method, sources and the full ranking: Passports and citizenship.
Palanor calculation from each destination government's published rules; GDP weights from the World Bank (CC BY 4.0), one year for the whole line, so it moves only when a list changes.
GDP by expenditure
What Switzerland’s economy runs on
In 2025, household spending was 49.5% of GDP, government consumption 12.0%, investment 29.5% and net exports +8.9% (exports 78.0%, imports 69.1%).
World Bank national accounts. The parts can miss 100 by a few points (the statistical discrepancy).
Same World Bank definition for every country, so the shares compare directly: What each economy runs on.
IMF World Economic Outlook
The IMF’s outlook for Switzerland
The latest year before the October 2026 edition (often still an IMF estimate) and the IMF’s own projections. These are the IMF’s published forecasts, shown as published; Palanor does not project them further. Since the previous edition the IMF raised its growth forecast for this year by 0.5 percentage points (Palanor calculation).
| Measure | 2025 | 2026 IMF f’cast | 2027 IMF f’cast | 2031 IMF f’cast |
|---|---|---|---|---|
| Real GDP growth% | 1.6 | 1.9 | 1.2 | 1.2 |
| Inflation, average consumer prices% | 0.2 | 0.7 | 0.8 | 0.7 |
| Unemployment rate% of labor force | 2.8 | 3.0 | 3.0 | 2.8 |
| GDP, current US dollarsUS$ bn | 1,061 | 1,136 | 1,163 | 1,371 |
| GDP at purchasing-power parityintl $ bn | 926.8 | 975.8 | 1,019 | 1,167 |
| GDP per person, US dollarsUS$ | 117,191 | 124,478 | 126,606 | 145,009 |
| Current account balance% of GDP | 5.6 | 6.2 | 6.5 | 6.5 |
| Government gross debt% of GDP | 40.1 | 38.3 | 37.8 | 35.9 |
| Government net debt% of GDP | 17.3 | 17.2 | 16.9 | 15.7 |
| Government overall balance% of GDP | 0.2 | -0.2 | -0.1 | -0.4 |
| Government primary balance% of GDP | 0.2 | -0.2 | -0.2 | -0.4 |
| Government net interest paid% of GDP · Palanor calc. | -0.0 | -0.0 | -0.1 | -0.1 |
Source: IMF World Economic Outlook Database (edition on the projection). Dashed: the IMF's published projection.
Source: IMF World Economic Outlook Database (edition on the projection). Dashed: the IMF's published projection.
Source: IMF World Economic Outlook Database, October 2026. Provided by the IMF “as is” and free of charge from the IMF; the IMF does not endorse Palanor. Net interest paid is a Palanor calculation: the IMF's primary balance minus its overall balance.
Charts
The headline series
Discourse
How often S&P 500 companies name Switzerland
5 of 445 S&P 500 companies named Switzerland on an earnings call in the 90 days to 2026-10-21. 5.7% list it in the risk factors of their latest 10-K. Names only, counted by fixed rules set before any document was read; a mention says the country came up, not why.
News
In the news
- Vietnam signs free-trade pact with European countries including Norway, Switzerland reut.rs/4ylpDOR
Reuters · Bluesky2026-10-18neutral
- UBS weighs moving headquarters from Switzerland if capital rules tighten, WSJ reports reut.rs/4hYRluN
Reuters · Bluesky2026-10-15neutral
- Switzerland, Norway, Vietnam to sign free trade deal on Sunday, officials say reut.rs/4hK9vBA
Reuters · Bluesky2026-10-14positive · +deal
- ‘Switzerland has spoken’: will UBS leave?
FT Companies2026-10-09neutral · ?question
- Greater opportunities to expand bilateral trade, investment between India, Switzerland: President Murmu
Marketaux (financial news API)2026-10-06positive · +expand +investment
- Switzerland is in fine fiscal fettle, with low debt, little inflation and correspondingly low bond yields. For other rich countries, “Be Swiss” may not be realistic advice—but even “Be Greek” would do
The Economist · Bluesky2026-10-06neutral
- India, Switzerland agree to expand trade ties; ink migration and mobility pact
Marketaux (financial news API)2026-10-05positive · +expand
- India, Switzerland sign migration pact, expand trade, investment and defence ties
Marketaux (financial news API)2026-10-05positive · +expand +investment
- [2610.02863] Multi-Agent AI as a Nested Principal-Agent Problem in Private Wealth Management: Mandate Representation and Evidence Control in Switzerland, Germany and Austria
Marketaux (financial news API)2026-10-05neutral
- In 1990, Switzerland crushed an old A13 road and reused 66% to 100% of it in new concrete; 20 years later, every recycled test mix was still rated good or very good
Marketaux (financial news API)2026-10-04neutral
- Artisan Partners, a top-10 UBS shareholder, is urging the bank to leave Switzerland over worries that the bank won’t be able to compete with US rivals if it has to raise new capital.
www.semafor.com/article/10/0...
Semafor · Bluesky2026-10-01neutral
- Switzerland is home to around 450 watch brands. Last year just five of the poshest—Rolex, Cartier, Patek Philippe, Omega and Audemars Piguet—captured 60% of the revenue. How are they doing it?
The Economist · Bluesky2026-10-01neutral · ?question
- UBS pushes back against investor call to leave Switzerland
FT Companies2026-10-01neutral
- Malgorzata Kuczewska named CEO of Gallagher in Switzerland
Marketaux (financial news API)2026-10-01neutral
Headlines that name Switzerland, matched by name with fixed rules (a wrong match is worse than a missing one). Tone is read from each headline’s own words; no model reads or summarizes an article, and other publishers’ stories link out.
Company graph
Companies headquartered in Switzerland
Palanor’s company graph holds 796 entities headquartered here, 10 with a listed ticker (GLEIF headquarters address, else legal address).
- Garrett Motion Inc.GTX · WILMINGTON
- CRISPR Therapeutics AGCRSP · Zug
- Chubb LtdCB · Zurich
- GARMIN LTDGRMN · Schaffhausen
- STMicroelectronics N.V.STM · SCHIPHOL
- TE Connectivity plcTEL · Schaffhausen
- UBS Group AGUBS · Zurich
- ALCON INCALC · FRIBOURG
- dormakaba Holding AGDRRKF · Rümlang
- NOVARTIS AGNVS · Basel
Signals
Every series about Switzerland
Grouped by theme, the most-read first. All 240 in the Library.
Growth and output10 of 57
- Population, Historical (Maddison): Switzerlandrecord high since 1; 1y +0.9%8,833,800 people2022
- GDP per Person, Historical (Maddison): Switzerlandrecord high since 1; 1y +1.2%63,3232022
- GDP, Historical (Maddison): Switzerlandrecord high since 1; 1y +2.1%559.42022
- Switzerland · GDP · USD bn (current)record high since 1960; 1y +7.6%$1,043.5bn2025
- Switzerland · Real GDP Growth · % y/y27th percentile since 1961; 1y −0.09 pts1.3%2025
- Switzerland · Agriculture, Forestry and Fishing Value Added · % of GDP26th percentile since 1990; highest since 2020; 1y +0.0351 pts0.64% of GDP2025
- Switzerland · Country Strength63rd percentile since 1990; lowest since 2019; 1y −3.8%75.7 index2025
- Switzerland · GDP per Capita · PPP USDrecord high since 1990; 1y +5.2%102,513 usd2025
- Switzerland · Industry (incl. Construction) Value Added · % of GDP15th percentile since 1990; lowest since 2017; 1y −0.417 pts25% of GDP2025
- Switzerland · Manufacturing Value Added · % of GDP57th percentile since 1990; lowest since 2018; 1y −0.141 pts18.9% of GDP2025
Prices4 of 6
- Switzerland Consumer Price Index (OECD)99th percentile since Jan 2010; 1y +1.0%108.8 index2026-09-01
- Switzerland Inflation Rate (CPI, % y/y, OECD)78th percentile since Jan 2011; highest since Aug 2024; 1y +0.77 pts0.99% y/y2026-09-01
- Switzerland Purchasing Power Since 2019 (100 = January 2019)2nd percentile since Jan 2019; 1y −1.0%92.52026-09-01
- Switzerland · Inflation · CPI % y/y13th percentile since 1960; lowest since 2020; 1y −0.91 pts0.15%2025
Jobs and people at work7 of 8
- Switzerland Unemployment Rate (Monthly, Eurostat)92nd percentile since Jan 2010; 1y +0.2 pts5.1%2026-06-01
- Switzerland · Unemployment Rate (OECD Harmonised, Quarterly)92nd percentile since Apr 1999; 1y +0.27 pts5.03% of labour force2026-04-01
- Switzerland — Avg annual hours worked per worker2nd percentile since 1950; lowest since 2020; 1y −0.5%1,528.9 hours/year2023-06-30
- Switzerland · Female Labor Force Participation · %74th percentile since 1990; lowest since 2022; 1y −0.31 pts62.2%2025
- Switzerland · Male Labor Force Participation · %record low since 1990; 1y −0.41 pts71.4%2025
- Average annual hours worked · Switzerland4th percentile since 1991; lowest since 2020; 1y −0.5%1,512.2 hours2025
- Switzerland · Unemployment Rate · %93rd percentile since 1991; highest since 2021; 1y +0.53 pts4.87%2025
Money, rates and credit3 of 4
- Switzerland 10-Year Government Bond Yield (Monthly)14th percentile since Jan 1955; highest since May 2024; 1y +0.39 pts0.59%2026-09-01
- Switzerland · Central Bank Policy Rate (IMF)31st percentile since Jan 2000; 1y unchanged0%2026-08-01
- Swiss National Bank Total Assets · % of Switzerland GDP89th percentile since Oct 1960; 1y +1.89 pts102.5% of GDP2026-01-01
Stock market and listed companies2
- Switzerland Share Prices (OECD, 2015 = 100)100th percentile since Jan 1955; 1y +14.1%155.92026-09-01
- Switzerland Share Prices, Change Over a Year (OECD)66th percentile since Jan 1956; 1y +12.61 pts14.1% y/y2026-09-01
Government and debt10 of 21
- Switzerland · Budget Balance · % GDP (central govt)71st percentile since 1972; 1y +250.0%0.49 pct_gdp2024
- Switzerland · Interest · % of Revenue (central govt)9th percentile since 1972; 1y −0.05 pts0.9%2024
- Switzerland · Interest · % of Expense (central govt)10th percentile since 1972; highest since 2018; 1y +0.27 pts0.98%2023
- Switzerland · Public Social Spending: Total (% of GDP)84th percentile since 1980; highest since 2021; 1y +0.53 pts16% of GDP2024
- Switzerland · Cyclically Adjusted Balance (IMF)50th percentile since 1983; lowest since 2021; 1y −0.0905 pts0.27% of potential GDP2025
- Switzerland · Cyclically Adjusted Primary Balance (IMF)41st percentile since 1983; lowest since 2021; 1y −0.0919 pts0.25% of potential GDP2025
- Switzerland · Public Social Spending: Family (% of GDP)96th percentile since 1980; 1y −0.07 pts1.68% of GDP2021
- Switzerland · Public Social Spending: Health and Disability (% of GDP)89th percentile since 1980; 1y −0.32 pts5.88% of GDP2021
- Switzerland · Public Social Spending: Old Age and Survivors (% of GDP)92nd percentile since 1980; lowest since 2018; 1y −0.33 pts6.83% of GDP2021
- Switzerland · Public Social Spending: Other Social Policy (% of GDP)80th percentile since 1980; 1y −0.05 pts1.37% of GDP2021
Trade and capital flows10 of 11
- Switzerland's Share of Foreign-Held U.S. Treasuries48th percentile since Mar 2000; 1y −0.213 pts3.06% of foreign holdings2026-08-01
- U.S. Treasury Securities Held in Switzerland86th percentile since Mar 2000; highest since Apr 2026; 1y −5.7%285.8 $ billions2026-08-01
- Switzerland's Share of Foreign-Held U.S. Equities · %5th percentile since Sep 2011; highest since Nov 2025; 1y −0.189 pts4.72% of foreign holdings2026-08-01
- U.S. Equities Held in Switzerland · USD bnrecord high since Sep 2011; 1y +18.2%1,187.9 $ billions2026-08-01
- Switzerland · Net International Investment Position (IMF)99th percentile since Oct 1999; 1y +0.9%$1,217.9bn2026-04-01
- Switzerland · Current Account · % GDP56th percentile since 1977; 1y −29.7%6.25 pct_gdp2025
- Switzerland · Net International Investment Position, % of GDP (IMF)78th percentile since 1983; 1y −3.17 pts113.6% of GDP2025
- U.S. Goods Trade With Switzerland (Exports + Imports)record high since 1985; 1y +103.7%179.9 $ billions2025
- Switzerland's Share of U.S. Goods Traderecord high since 1987; 1y +1.56 pts3.22% of U.S. goods trade2025
- Switzerland · Tourism Intensity: Nights per Resident (annual)53rd percentile since 1990; highest since 2000; 1y +2.2%6.852025
Energy and resources10 of 16
- Switzerland · Bioenergy Share of Electricity Generationrecord high since 2000; 1y +0.27 pts1.6% of generation2025
- Switzerland · Carbon Intensity of Electricity90th percentile since 2000; highest since 2017; 1y +13.0%39.1 gCO2e/kWh2025
- Switzerland · Electricity Generation33rd percentile since 2000; lowest since 2022; 1y −17.0%65 TWh2025
- Switzerland · Gas Share of Electricity Generation10th percentile since 2000; highest since 2022; 1y +0.08 pts0.42% of generation2025
- Switzerland · Hydro Share of Electricity Generation13th percentile since 2000; lowest since 2022; 1y −5.08 pts52.3% of generation2025
- Switzerland · Nuclear Share of Electricity Generationrecord low since 2000; 1y −0.78 pts29.9% of generation2025
- Switzerland · Other Fossil Fuels Share of Electricity Generation60th percentile since 2000; highest since 2022; 1y +0.35 pts1.9% of generation2025
- Switzerland · Other Renewables Share of Electricity Generation67th percentile since 2000; highest since 2022; 1y +0.27 pts1.6% of generation2025
- Switzerland · Solar Share of Electricity Generationrecord high since 2000; 1y +4.89 pts12.1% of generation2025
- Switzerland · Wind and Solar Share of Electricity Generationrecord high since 2000; 1y +4.91 pts12.4% of generation2025
Conflict and geopolitics4 of 10
- Switzerland · Governance · WGI six-dimension mean6th percentile since 1996; 1y +1.8%1.67 index2025
- Switzerland · Political Stability · WGI24th percentile since 1996; highest since 2019; 1y +10.7%1.12 index2025
- Switzerland · Regulatory Quality · WGI17th percentile since 1996; 1y +2.4%1.68 index2025
- Switzerland · Rule of Law · WGI6th percentile since 1996; 1y +0.5%1.74 index2025
Aid in and out2
- Switzerland · Foreign Aid (Official Development Assistance) · US$ billions77th percentile since 2015; lowest since 2022; 1y −0.9%4.57 US$ billions2025
- Switzerland · ODA as % of GNI31st percentile since 2018; lowest since 2019; 1y −0.03 pts0.46% of GNI2025
Migration5 of 7
- First Residence Permits Issued to U.S. Citizens · Switzerland46th percentile since 2012; highest since 2018; 1y +5.3%4,5832025
- International Migrant Stock: Switzerland (UN)record high since 19902,773,840 people2024
- International Migrants as a Share of Population: Switzerland (UN)record high since 199031.1% of population2024
- U.S.-Born People Living in Switzerland (UN)record high since 199042,809 people2024
- Change in Migrant Share of Population Since 2000: Switzerland (UN)10.42024
AI stance and technology4 of 5
- Switzerland · R&D Spending · % of GDP85th percentile since 19963.22% of GDP2023
- Global Innovation Index Rank: Switzerland1y unchanged1 rank2026
- Global Innovation Index Score: Switzerland1y +1.1%66.7 score (0–100)2026
- AI User Share: Switzerland (Microsoft AI Diffusion)1y +6.70 pts39.1% of people aged 15-642026-06-30
Climate and the physical world4 of 6
- Switzerland · Arable Land · % of land44th percentile since 1961; highest since 2020; 1y +0.05 pts10.1% of land area2024
- Switzerland · Renewable Freshwater · m³ per personrecord low since 1961; 1y −0.8%4,6032022
- Switzerland · Forest Area · % of landrecord high since 1990; 1y +0.04 pts32%2024
- Switzerland · PM2.5 Exposure · µg/m³record low since 1990; 1y −4.2%9 µg/m³2020
Health and living standards10
- Switzerland · Life Expectancy at Birth · yearsrecord high since 1960; 1y +0.3%84.4 years2024
- Switzerland · Access to Electricity · % of populationrecord high since 1990; 1y unchanged100%2024
- Switzerland · Human Development Index · UNDPrecord high since 1990; 1y +0.4%0.97 index2023
- Switzerland · Basic Drinking Water Access · % of populationrecord high since 2000; 1y unchanged100%2024
- Switzerland · Safely Managed Drinking Water · % of populationrecord high since 2000; 1y unchanged96.7%2024
- Switzerland · Undernourishment · % of populationrecord high since 2001; 1y unchanged2.5%2024
- Switzerland · Extreme Poverty ($3.00 a day) · % of population70th percentile since 1982; 1y −0.1 pts0.1%2023
- Switzerland · Poverty at National Lines · % of population84th percentile since 2006; highest since 2018; 1y +1.10 pts15.8%2021
- Switzerland · Never Physically Active Outside Work · % of people9.3% of people2022-12-31
- Switzerland · Physically Active Outside Work Daily · % of people26.5% of people2022-12-31
Sentiment and attention1
- Switzerland · Search Attention84th percentile since Sep 2021; highest since Aug 9, 2026; 1y unchanged37 index2026-09-20
More about this country2 of 18
- USD / CHF12th percentile since Jan 2015; lowest since Sep 22, 2026; 1y +3.6%0.82 CHF per USD2026-10-16
- Switzerland · Total Reserves incl. Gold (IMF)record high since Dec 1950; 1y +9.6%$1,120.1bn2026-08-01
Peers
Elsewhere in Europe
Alphabetical. Palanor does not rank countries.
AlbaniaAndorraAustriaBelarusBelgiumBosnia and HerzegovinaBulgariaCroatiaCzechiaDenmarkEstoniaFaroe IslandsFinlandFranceGermanyGibraltarGreeceGuernseyHungaryIcelandIrelandIsle of ManItalyJerseyKosovoLatviaLiechtensteinLithuaniaLuxembourgMaltaMoldovaMonacoMontenegroNetherlandsNorth MacedoniaNorwayPolandPortugalRomaniaRussiaSan MarinoSerbiaSlovakiaSloveniaSpainSwedenUkraineUnited KingdomVatican City