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Swiss economic growth slowed in 2024

Published on February 17, 2025

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Swiss economic growth slowed in 2024 — Switzerland's economic growth slowed last year Keystone-SDA

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Switzerland recorded a slowdown in economic growth in 2024, particularly in the service sector, due to the poor performance of its main trading partners.

This content was published on February 17, 2025 - 11:43

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In 2024, Switzerland’s gross domestic product (GDP), adjusted for seasonal variations and sporting events, grew 0.8%, after +1.2% the previous year, according to State Secretariat for Economic Affairs (Seco) provisional data. This rate is well below the average annual growth rate of 1.8% since 1981.

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The industrial sector reported moderate growth overall, driven largely by the Swiss pharmaceuticals industry, while the service sector posted below-average growth by historical standards.

In the fourth quarter, from October to the end of December, Swiss economic output is nevertheless expected to have risen by 0.4%, compared with 0.2% in the previous quarter, according to Seco’s flash estimate of Swiss quarterly real GDP. The industrial and service sectors all contributed.

Economists surveyed by AWP had anticipated growth of between 0.1% and 0.4% in Q4. The published data, still incomplete, will be updated on February 27, which could alter the results.

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Translated from French by DeepL/mga

This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.

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