This follows from the 1.2% growth in 2024 and the 1.3% growth posted in 2023. In terms of GDP per capita, the Swiss economy grew by 0.5% in 2025. And just for a bit more of a benchmark, the GDP per capita has expanded by 4.8% since 2019.
Looking at the details, the industrial sector was the main drag as it contributed negatively to GDP growth once again. This makes it the third straight year running that it has contracted. While the pharmaceutical industry grew, it could not fully offset declines in other industrial areas.
On industry weakness, the report by SECO highlights that European demand was extremely soft year. In particular, exports to Germany fell off significantly and the sharp appreciation of the Swiss franc is not helping in that regard. The currency strength is creating a “braking effect” on international competitiveness.
Meanwhile, the boost in Swiss GDP mainly stems from its services sector – which grew strongly last year, in particular finance and trade. That largely came about in the first half of the year, helping to counterbalance the ongoing weaknesses in the industrial sector.
