July 2022 / Switzerland

Turnover adjusted for sales days and holidays rose in the retail sector by 3.2% in nominal terms in June 2022 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.1% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO). Real turnover adjusted for sales days and holidays rose in the retail sector by 1.2% in June 2022 compared with the previous year. Real growth takes inflation into consideration. Compared with the previous month, real, seasonally adjusted retail trade turnover registered an increase of 0.1%. Retail sector excluding service stations Adjusted for sales days and holidays, the retail sector excluding service stations showed a 1.8% increase in nominal turnover in June 2022 compared with June 2021 (in real terms +0.3%). Retail sales of food, drinks and tobacco registered an increase in nominal turnover of 0.2% (in real terms -1.7%), whereas the non-food sector registered a nominal plus of 3.4% (in real terms +1.8%). Excluding service stations, the retail sector showed a seasonally adjusted stagnation in nominal turnover compared with the previous month (in real terms +0.1%). Retail sales of food, drinks and tobacco registered a plus of 0.6% (in real terms +0.6%). The non-food sector showed a minus of 1.6% (in real terms -1.4%).   You can find further information in the press release.

The Producer and Import Price Index rose in June 2022 by 0.3% compared with the previous month, reaching 109.8 points (December 2020 = 100). Petroleum products in particular were more expensive. Compared with June 2021, the price level of the whole range of domestic and imported products rose by 6.9%. These are the results from the Federal Statistical Office (FSO).

In particular, higher prices for builders' and interiors’ joinery as well as petroleum products were responsible for the increase in the producer price index compared with the previous month. Increasing prices were also seen for gas and dairy products. In contrast, scrap became cheaper.

The import price index registered higher prices compared with May 2022, particularly for petroleum products. Furthermore, motor vehicles and motor vehicle parts, builders' and interiors’ joinery, computers, other transport equipment, leather and travel goods also became more expensive. In contrast, basic metals and semi-finished metal products as well as petroleum and natural gas saw lower prices.

You can find further information in the press release.

On 22 July 2022, Italy and Switzerland released a joint declaration (in Italian) extending the mutual agreement, signed on 18 and 19 June 2020, regarding the taxation of frontier workers during the COVID-19 pandemic.

The mutual agreement will continue to apply until 31 October 2022, despite the end of the COVID-19 pandemic. This will allow the Italian and Swiss competent authorities to consult each other in order to verify whether the conditions for the application of the mutual agreement continue to exist.

The close collaboration between science and industry is unique in Switzerland: Companies in the life sciences sector benefit from fast technology transfer in an innovative ecosystem, driven by cutting-edge research from Swiss-based pharmaceutical companies.

Thanks to its traditional strength in the life sciences sector and international ICT hotspots, Switzerland offers the ideal environment for innovative companies that want to quickly and easily bring new innovations in personalized health to market. In Switzerland, science and industry have a uniquely close relationship that guarantees fast technology transfer in a versatile and compact ecosystem. Cutting-edge research is carried out by Swiss pharmaceutical companies such as Roche and Novartis, at world-class universities and government institutes; SMEs and startups provide important impetus for this. Switzer-land is investing massively in harmonized data infrastructures, while at the same time placing great importance on data protection.

Fact sheet: Switzerland - a hub for personalized health

Source: S-GE