Switzerland’s economy outperformed expectations in Q1 2025, driven by a surge in exports to the United States and strong growth in the chemical and pharmaceutical sectors.
Switzerland’s gross domestic product (GDP) rose by 0.8% in the first quarter of 2025 compared to the previous quarter, surpassing initial forecasts, according to final figures released by the State Secretariat for Economic Affairs (SECO).
The seasonally and calendar-adjusted GDP growth follows a 0.6% expansion in Q4 2024. In May, SECO had forecast 0.7% growth for Q1 based on preliminary estimates.
A key contributor to the stronger-than-expected performance was a surge in Swiss exports to the United States. SECO noted: “Exports to the United States saw a sharp increase in the first quarter, possibly due to frontloading in response to U.S. trade policy.”
Swiss exports to the U.S. jumped by 17.4% from January to March compared to the final quarter of 2024 - far outpacing the 3.6% rise in overall exports. The chemical and pharmaceutical sectors also saw above-average growth during the period.
Tensions have risen in trade relations between Switzerland and the U.S. after the Trump administration imposed a 31% tariff on Swiss imports in April, though that rate was later reduced to 10% temporarily. The looming threat of tariffs led to a sharp appreciation of the Swiss franc and dampened investment activity.
The Swiss government is currently in talks with U.S. officials in an effort to prevent further escalation. With pharmaceuticals representing a cornerstone of the country’s export economy, Switzerland remains vulnerable to trade barriers in that sector.
U.S. forces have struck three Iranian oil tankers after Iran launched ballistic missiles at two Navy ships, according to U.S. Central Command. ...
An eruption of Indonesia’s Mount Anak Krakatau has disrupted air travel, school activities and fishing operations, with hundreds of passenger...
Russian President Vladimir Putin held more than three hours of talks with U.S. envoys Steve Witkoff and Jared Kushner in Moscow on efforts to end t...
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar with the matter said. They were met by Russian Presidential Envoy Kirill Dmitriev.
U.S. efforts to squeeze Iran’s economy through an oil blockade and sanctions are becoming increasingly difficult for Tehran to withstand, according to three senior Iranian sources. Washington is escalating pressure in hopes of securing concessions in future negotiations.
An Iranian tanker was hit by U.S. forces on Saturday near Iran's key oil export hub, Kharg Island, in the Gulf, the semi-official Iranian news agency Tasnim reported.
Two people have been rescued alive from a tunnel in Nepal, nine days after catastrophic floods devastated the country, as rescuers continue searching for survivors.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment