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Swiss economy shrinks significantly in third quarter

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As expected, US President Donald Trump's tariff blow against Switzerland left its mark on the local economy in the third quarter. +Get the most important news from Switzerland in your inbox Gross domestic product (GDP) shrank by 0.5% in the third quarter on an adjusted basis compared to the previous quarter. On Friday, the State Secretariat for Economic Affairs (SECO) confirmed the flash estimate published a fortnight ago. The chemical-pharmaceutical industry in particular recorded a significant decline of 7.9% between July and September, according to the report. + Swiss politicians decry ‘gold bar diplomacy’ in Trump trade deal At the same time, SECO says the development in the sector should be seen against the backdrop of pull-forward effects in the previous quarters. In anticipation of US tariffs, inventories were heavily stockpiled; exports shot up accordingly. Exports from the chemical-pharmaceutical industry make up the lion's share of Swiss exports: in 2024, for example ... Full story here Are you the author?
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SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.
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