Switzerland - Balance of payments



In the past Switzerland typically had a foreign trade deficit. More recently, however, this imbalance was more than compensated for by income from services, investments, insurance, and tourism. Restructuring of enterprises in the 1990s, due to the strength of the Swiss franc, caused the export-oriented manufacturing sector to become highly successful. Exports of goods and services amounted to some 46% of GDP in 2000.

The US Central Intelligence Agency (CIA) reports that in 2002 the purchasing power parity of Switzerland's exports was $100.3 billion while imports totaled $94.4 billion resulting in a trade surplus of $5.9 billion.

The International Monetary Fund (IMF) reports that in 2001 Switzerland had exports of goods totaling $95.8 billion and imports totaling $94.3 billion. The services credit totaled $27.7 billion and debit $15.3 billion. The following table summarizes Switzerland's balance of payments as reported by the IMF for 2001 in millions of US dollars.

Switzerland

Current Account 22,624
Balance on goods 1,564
Balance on services 12,457
Balance on income 12,677
Current transfers -4,073
Capital Account 189
Financial Account -30,691
Direct investment abroad -11,052
Direct investment in Switzerland 8,628
Portfolio investment assets -42,840
Portfolio investment liabilities 1,896
Other investment assets 23,059
Other investment liabilities -10,382
Net Errors and Omissions 8,516
Reserves and Related Items -638

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