Swiss economy grew in all cantons in 2022

Swiss economy grew in all cantons in 2022 Keystone-SDA

The economies of all 26 Swiss cantons grew in 2022, but the differences were quite marked. Gross domestic product (GDP) grew most strongly in cantons of Jura and Neuchâtel, with Vaud at the bottom.

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In 2022, GDP in Switzerland increased by 3% on the previous year’s prices. The main drivers were the manufacturing industry and the energy sector. By contrast, the financial sector, building construction and wholesale recorded a decline.

The range in the individual cantons was very wide, as shown by the Federal Statistical Office (FSO) in an analysis published on Monday. According to the FSO figures, GDP growth ranged between +0.1% and +7.8%, reflecting the very different economic structures in the various regions.

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Jura and Neuchâtel at the top

Canton Jura led the way in 2022 thanks to the upturn in industry. The neighbouring canton of Neuchâtel also recorded strong growth of 5.8%. There, the positive development in the manufacture of data processing equipment, electronic and optical products boosted the economy.

Valais (+5.2%), Graubünden (+4.9%), Ticino (+4.7%) and Lucerne (+4.6%) also experienced an upturn. In Valais, Graubünden and Ticino, this was primarily due to positive developments in the energy supply and tourism sectors, according to the FSO. In Ticino, manufacturers of data processing equipment, electronic and optical products also contributed to the increase.

In contrast, the cantons of Glarus (+1.8%), Basel City (+1.6%), Aargau (+1.6%), Basel Country (+0.8%) and Vaud (+0.1%) recorded rather modest growth rates in 2022. Growth in the chemical and pharmaceutical industries weakened in northwestern Switzerland, while the industrial and financial sectors in Glarus faltered.

Zurich as an economic engine

Canton Zurich (+3.8%) was only in the middle of the field, but with a contribution of 0.8 percentage points to Switzerland’s overall growth of 3% it has regained its role as an economic engine. Cantons Bern and Geneva follow in second and third place in this list, each contributing 0.3 percentage points to overall growth. Their GDP growth in 2022 was 2.5% and 4.1% respectively.

Translated from German by DeepL/ts

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