Switzerland’s economy expanded faster than expected in Q2, driven by strong chemical and pharmaceutical exports, particularly to the US.
Switzerland’s economy grew 1.5% quarter-on-quarter in Q2, accelerating from 0.4% in Q1, according to a flash estimate. The industrial sector led the expansion, with chemical and pharmaceutical exports surging amid frontloading ahead of potential US tariffs.
Exports rebounded sharply, rising 8.8% overall, with US-bound shipments jumping 21.5%. The services sector also contributed to growth, though details remain limited pending a final report in roughly 60 days.
The provisional data suggests trade dynamics, rather than broad-based demand, fueled the uptick, as firms rushed shipments before tariff threats were later withdrawn in July.