Switzerland: CIC to GDP

Cash money not held by banks in Switzerland made up nearly 14 percent of GDP in 2018, a percentage that had slightly increased in previous years. This so-called CIC/GDP ratio roughly measures the use of cash money in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regards, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and not necessarily reflects retail payments.

Share of currency in circulation (CIC) to the nominal GDP of Switzerland from 2012 to 2020

Characteristic	CIC/GDP ratio
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Release date

November 2022

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Region

Switzerland

Survey time period

2012 to 2020

Supplementary notes

The numbers provided have been calculated from two sources:

Currency in circulation in national currency from the IMF;
Nominal GDP in current prices and national currency from Eurostat.

The CIC to GDP ratio roughly reflects the overall use of cash in a country. Note, however, that this is quite general (as it looks at the overall market for cash) and does not exclusively look at the component of consumers.

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