Economy Current account surplus of CHF 10 billion in the 4th quarter
The Swiss economy achieved a current account surplus of just under CHF 10 billion in the fourth quarter of 2024. This is higher than in the previous quarter, but lower than in the same quarter of the previous year.
24.03.2025, 10:01
SDA
Specifically, the surplus in the period from October to December 2024 amounted to CHF 9.8 billion, as announced by the Swiss National Bank (SNB) on Monday. Switzerland achieved a high surplus of 20.6 billion, particularly in trade in goods and services, while the balances of primary income (labor income, investment income) and secondary income (current transfers) were both negative at -7.2 billion and -3.7 billion respectively.
The current account balance was CHF 5.5 billion in the third quarter and CHF 13.8 billion in the same quarter of the previous year. For 2024 as a whole, this resulted in a surplus of around CHF 42 billion. However, the figures are only provisional and are normally subject to major revisions.
According to the SNB, the decline in the overall current account balance compared to the same quarter of the previous year was primarily due to increased surplus expenditure in trade in services and in primary and secondary income.
The goods trade income surplus was slightly higher than in the same quarter of the previous year, with the increase in the balance of cross-border goods trade exceeding the decline in the merchanting balance.
The current account balance 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 and current transfers. A high surplus is considered a sign of an economy's strength.
