Swiss economy grew by 1.4% in 2024
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Swiss economy grew by 1.4% in 2024
According to the latest data, the Swiss economy grew significantly in 2024. Gross domestic product (GDP) recorded an increase of 1.4% at the previous year’s prices, as reported by the Federal Statistical Office (FSO) on Monday.
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At current prices, it rose by 2.4% to CHF854 billion ($1 trillion). The State Secretariat for Economic Affairs (SECO) and the FSO have also carried out a benchmark revision of the GDP data. New time series are now available for the period 1995 to 2023. This estimate for 2024 was calculated on the basis of the revision.
New data sources were included and calculation methods improved. This leads to a correction in GDP at current prices of between 1.1 and +3.8 percentage points in the period from 1995 to 2023.
From 2021, the revision will lead to a particularly strong increase of over 3 percentage points. According to SECO, the revision will lead to an average increase in GDP of 1.8 percentage points.
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Adapted from German by DeepL/jdp
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