Fri, Mar 22nd 2024
Switzerland’s economy demonstrates resilience with a CHF 61 billion current account surplus in 2023.
The Swiss economy once again closed 2023 with a high current account surplus. Last year, Switzerland took in CHF 61 billion more than it spent.
In the final quarter, the current account surplus amounted to CHF 15.4 billion, compared to CHF 13.3 billion a year earlier, according to the report. In the third quarter, this balance amounted to CHF 17.8 billion, in the second quarter to CHF 16.2 billion and in the first quarter to CHF 11.3 billion. The SNB adjusts some of the previous quarter’s figures significantly.
The current account records all income and expenditure of an economy, including not only trade in goods but also trade in services (tourism, etc.), labor and capital income (primary income) and current transfers (secondary income). A high surplus is considered a sign of the strength of an economy.
©Keystone/SDA
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