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The Gross Domestic Product in the Switzerland Economy increased by 1.8% in 2005. Growth rate of GDP, demand in Domestic market and level of consumption is as follows:
| |
2003 |
2004 |
2005 |
2006* |
| Real GDP |
|
2.1 |
1.8 |
2.2 |
| Government consumption |
2.2 |
1.4 |
1.3 |
0.5 |
| Private Consumption |
0.8 |
1.4 |
1.6 |
1.8 |
| Gross Fixed Capital Formation |
-1.3 |
3.3 |
3.1 |
4.1 |
| Final Domestic Demand |
0.5 |
1.8 |
1.9 |
2.2 |
| Total Domestic Demand |
0.4 |
1.0 |
2.0 |
2.2 |
Source: OECD Economic Outlook.
2006*- This is 2006 projected data.
Consumer Prices Index
The consumer price index is used to measure the cost of living over years. According to statistics, the consumer price index increased to 112.96 in 2005 from its 100 in 2002.
Keeping in view the first rising oil prices, the greatest threat to the world economy, the bank of Switzerland has expected that the inflation level is expected to raise touch 1.2% in 2007. The following table shows the Consumer Price Index over the years (taking the base year 2002=100).
|
| |
2002 |
2003 |
2004 |
2005 |
| CPI |
100 |
103.23 |
107.59 |
112.96 |
| Communication |
100 |
104.89 |
108.12 |
115.19 |
| Housing and Energy |
100 |
103.59 |
108.89 |
116.59 |
| Transport |
100 |
102.79 |
105.25 |
109.59 |
| Food Items |
100 |
102.49 |
105.59 |
109.59 |
Source: Bank of Switzerland.
Foreign Trade in Switzerland
Swiss Exports have grown very fast in the recent years. According to statistics given by the bank of Switzerland, Exports grew by 7.28% in 2005. The volume of exports reached at $127 billions in same year. Imports level has reached at $120.66 billions in 2005 with a growth rate of 8.8%.
The following diagram shows the levels of Exports and Imports of the country over years.
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