Top Swiss Exports & Imports
Switzerland's Exports of Watches & Other Jewellery Continue to Rise
Apr 11, 2008
In 2007, Switzerland exported some US$201 billion worth of goods led by machinery, chemicals, metals, agricultural products and world famous Swiss watches led by the Swiss Army brand. Topping the list of customers for Swiss exports were Germany (19.7% of total exports), the United States (11.1%), Italy (8.8%), France (8.6%) and the United Kingdom (4.8%).
Swiss imports last year were valued at $189.6 billion. Leading suppliers of Swiss imports included Germany (19.7% of total imports), Italy (10.6%), France (10%), the United States (6.2%), the Netherlands (4.7%) and Austria (4.3%).
Switzerland’s overall trade surplus was more than $11 billion in 2007. However, Switzerland did experience a $20.5 billion deficit with Germany, its largest and closest trade partner to the northeast.
Swiss Trade with America
Switzerland experienced a $2.3 billion trade deficit with its American trade partner in 2007, a 15.6% increase since 2006 and a strong reversal from a $2 billion surplus in 2003.
Below are the leading export and import categories traded between Switzerland and the United States in 2007.
Swiss Exports to U.S.
With a population of 7.6 million, Switzerland exported US$14.8 billion worth of merchandise to the United States in 2007, up 3.8% from 2006 and up 38.2% in four years.
- Medicinal, dental and pharmaceutical preparations …US$2.9 billion (19.3% of Switzerland to U.S. exports, down 1.9% from 2006)
- Jewellery (watches, rings) … $2.4 billion (16.2%, up 12.1%)
- Other scientific, medical and hospital equipment … $710.3 million (4.8%, no change)
- Other household goods including clocks … $672.5 million (4.6%, up 18.8%)
- Other industrial machinery … $523.3 million (3.5%, up 7.1%)
- Industrial organic chemicals … $450.9 million (3.1%, up 1.5%)
- Electric apparatus and parts … $440.9 million (3%, up 8.2%)
- Machine tools, metal working, molding and rolling … $371.4 million (2.5%, down 14.5%)
- Measuring, testing and control instruments … $336.4 million (2.3%, up 12.2%)
- Collectibles like antiques, artwork and stamps … $318 million (2.2%, up 4%).
Fastest-growing Swiss Exports to U.S.
Below are selected American imports from Switzerland in 2007 with the highest percentage sales increases from 2006.
- Cement, lime, sand and stone … US$3.8 million (up 842.5% from 2006)
- Railway transportation equipment … $21.1 million (up 348.7%)
- Sulfur and non-metallic minerals … $6 million (up 260.9%)
- Industrial inorganic chemicals … $12.9 million (up 160.6%)
- Unmanufactured steelmaking and ferroalloying materials … $2.2 million (up 123.5%).
Swiss Imports from U.S.
Swiss imports from the U.S. rose 18.5% to $17 billion in 2007, up 96.8% since 2003.
Of American exports to Switzerland in 2007, the following product categories had the highest values.
- Gold (non-monetary) … US$5.9 billion (34.9% of Switzerland from U.S. imports, up 58.9% from 2006)
- Pharmaceutical preparations … $2.3 billion (13.3%, up 20.1%)
- Collectibles like antiques, artwork and stamps … $1.7 billion (9.7%, down 9.6%)
- Jewellery … $858.1 million (5%, up 49.4%)
- Diamonds … $731.8 million (4.3%, up 39.4%)
- Other household goods … $558.1 million (3.3%, up 15.7%)
- Other precious metals … $549.3 million (3.2%, down 53.2%)
- Medicinal equipment … $363.7 million (2.1%, up 32.2%)
- Organic chemicals … $338.7 million (2%, up 6.1%)
- Civilian aircraft parts … $215.4 million (1.3%, down 32%).
Fastest-growing Swiss Imports from U.S.
Below are selected American exports to Switzerland in 2007 with the highest percentage sales increases from 2006.
- Military equipment including ammunition, artillery, guns, missiles and tanks … US$22.9 million (up 451.2% from 2006)
- Other petroleum products … $16.1 million (up 209.7%)
- Numismatic coins … $38.2 million (up 209.7%)
- Steelmaking equipment … $7.9 million (up 152.6%)
- Chemical fertilizers … $15.8 million (up 126.4%).
Sources for this Article
This article presents independent calculations and insights based on data drawn from the CIA World Factbook and the U.S. Census Bureau – Foreign Trade Statistics.
