Switzerland External Debt as a % of GDP Highlights in 2020
Switzerland’s external debt as a % of GDP hit 284.9% in 2020, an increase of 7.8% over the previous year. Between 2010 to 2020, Switzerland’s external debt as a % of GDP increased by 37.8%.
Switzerland’s general government debt stood at 42.9% of GDP in 2020, amid the pandemic. A substantial budget surplus by the government has kept debt at a manageable level. The government debt is forecasted to increase due to the ongoing pandemic situation as revenues are forecasted to fall as compared to expenditures. Furthermore, due to the prolonged second wave of the pandemic, extensive measures decided for 2021 to cushion the economic impact are likely to raise more debt.
Outlook on Global Economy
Real GDP is measured using inflation-adjusted base year prices. Real GDP changes are a measure of economic growth and show whether there has been an increase or decrease in the volume of economic activity.
According to real GDP, the world's top five economies are the United States, China, Japan, Germany, and India. After the US, China had the largest real GDP in 2021 with a value of $12.7 trillion in 2021. With a $6 trillion real GDP during the same period, Japan came in third place globally. Germany and India are the other two largest leading economies, with real GDPs of $3.8 trillion and $2.9 trillion, respectively.
Factors Affecting the Global Economy:
A rise in COVID-19 cases:
As a result of Omicron, a new variant of COVID-19, more cases have been reported worldwide, resulting in the disruption of supply chain management. However, the global vaccination drive has reduced the fatality rate from the coronavirus.
Rising Inflation and Interest Rates:
As a result of rising inflation rates in both developing and advanced economies, central banks have been forced to tighten monetary policy and raise interest rates to keep prices from rising. However, a steady increase in interest rates could cause financial distress in some economies.
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer