amentally prosperous and stable
modern economy with a per capita GDP roughly 10% above that of the big
West European economies, is experiencing continued economic
difficulties. GDP growth was a minus 0.2% in 1996 and a weak plus 0.4%
in 1997. Weak domestic consumer demand is partly at fault; stagnating
real disposable income combines with a reluctance to reduce saving
rates in the face of an uncertain employment outlook. Switzerland's
leading sectors, including financial services, biotechnology,
pharmaceuticals, and special-purpose machines, therefore are more
reliant on export markets. Exports should lead an upturn in Swiss
economic performance in 1998-99, provided the franc does not
appreciate substantially as a result of Swiss monetary policy or
instability in the run up to EMU.

GDP: purchasing power parity-$172.4 billion (1997 est.)

GDP-real growth rate: 0.4% (1997 est.)

GDP-per capita: purchasing power parity-$23,800 (1997 est.)

GDP-composition by sector:
agriculture: 2.8%
industry: 31.1%
services: 66.1% (1995)

Inflation rate-consumer price index: -0.1% (1997)

Labor force:
total: 3.8 million (850,000 foreign workers, mostly Italian)
by occupation: services 67%, manufacturing and construction 29%,
agriculture and forestry 4% (1995)

Unemployment rate: 5% (1997 est.)

Budget:
revenues: $25.8 billion
expenditures: $30.8 billion, including capital expenditures of $2.3
billion (1997)

Industries: machinery, chemicals, watches, textiles, precision
instruments

Industrial production growth rate: 0% (1996)

Electricity-capacity: 14.27 million kW (1995)

Electricity-production: 55 billion kWh (1996)

Electricity-consumption per capita: 6,850 kWh (1996 est.)

Agriculture-products: grains, fruits, vegetables; meat, eggs

Exports:
total value: $99.2 billion (f.o.b., 1997)
commodities: machinery 29%, chemicals 26%, metals 8%, agricultural
products 4% (1996)
partners: EU countries 61%, US 9%, Japan 4% (1996)

Imports:
total value: $86.6 billion (c.i.f., 1997)
commodities: machinery 22%, chemicals 20%, metals 8%, agricultural
products 9% (1996)
partners: EU 79%, US 7%, Japan 3% (1996)

Debt-external: $NA

Economic aid:
donor: ODA, $1.034 billion (1995)

Currency: 1 Swiss franc, franken, or franco (SFR) = 100 centimes,
rappen, or centesimi

Exchange rates: Swiss francs, franken, or franchi (SFR) per
US$1-1.4757 (January 1998), 1.4513 (1997), 1.2360 (1996), 1.1825
(1995), 1.3677 (1994), 1.