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Switzerland - International trade International trade has long been the key to prosperity in Switzerland. Direct access to our calendar releases and historical data. 1950-2020 Data | 2021-2022 Forecast | Calendar. Considering the first seven months of the year, the trade surplus widened to CHF 19.9 billion from CHF 14.6 billion in the same period of 2019. Swiss exports are mostly luxury products and pharmaceuticals. For the 24 hours to 23:00 GMT, the USD declined 0.80% against the CHF and closed at 0.9072. Article Sidebar. Trade in services with Switzerland (exports and imports) totaled an estimated $71.9 billion in 2019. Exports increased 1.1 percent led by sales of machines & electronics, precision instruments, watches, metals, and food and beverages. Services exports were $46.8 billion; services imports were $25.0 billion. Incooperation with the Federal Customs Administration (FCA), the FSO makes available the foreign trade results. Investment The United States has a services trade surplus of an estimated $10 billion with Switzerland in 2017 (latest data available), up 15.8% from 2016. Switzerland has a budget surplus. Exports were $64.7 billion; imports were $69.7 billion. The Swiss trade surplus increased to a 3-month high in January, data from the Federal Customs Administration showed Thursday. a trade surplus means that there is a net inflow of capital . When exports exceed imports, a trade surplus is formed. The largest surplus was held by Italy (EUR 15 086 million), followed by Germany (EUR 13 618 million) and Ireland (EUR 3 477 million). For the 24 hours to 23:00 GMT, the USD rose 0.2% against the CHF and closed at 0.9886. Publish your articles and forecasts in our website. This trade surplus was highest in 2013 at €75 billion and lowest in 2009 at €8 billion. Among key trade partners, exports were up to the Euro Area, the US, China, Japan, Singapore, Hong Kong and the Middle East. It shows that 18 Member States had a trade surplus with Switzerland. Discover more about trade surplus'. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019. Among key trade partners, exports were up to the UK, the US, Japan, Hong Kong and the Middle East. Exports to the U.S. market have doubled since 2011. Switzerland's trade surplus declined to CHF 2.7 billion in September 2020 from a downwardly revised CHF 3.3 billion in the previous month, as exports fell while imports rose, amid the coronavirus pandemic. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019, a 41.4% increase ($7.8 billion) over 2018. For the 24 hours to 23:00 GMT, the USD declined 0.67% against the CHF and closed at 0.9327. Technology and IIoT It is an indication of high production level. Table reflects only those months for which there was trade. Considering the first ten months of the year, the trade surplus widened to CHF 28.4 billion from CHF 21.2 billion in the same period of 2019. In 2017, Switzerland managed a surplus of CHF 2.8 billion. The Treasury cited Switzerland’s large bilateral goods trade surplus with the United States as well as its overall current account surplus. Story continues below. Switzerland Trade Balance shows the difference between the Switzerland exports and imports in monetary terms, in the reported month. The U.S. services trade surplus with Switzerland was $21.8 billion in 2019. Imports were down from the EU, Japan and the US, but were up from China and the UK. ZURICH — Switzerland widened its current account surplus to 86 billion Swiss francs ($87.15 billion) during 2019, the Swiss National Bank said on Monday, an increase of 29 billion francs from a year earlier. Meanwhile, imports rose at a faster 2.5 percent boosted by purchases of chemical & pharmaceutical products, vehicles, metals, and precision instruments. U.S. exports of services to Switzerland were an estimated $46.8 billion in 2019, 11.8% ($5.0 billion) more than 2018, and 139% greater than 2009 levels. Between 2008 and 2018, the EU ran a trade surplus with Switzerland (meaning that it exported more than it imported). (RTTNews) - Switzerland's foreign trade surplus increased in November, figures from the Federal Customs Administration showed Thursday. Switzerland Jobless Rate Highest in 3 Months, Swiss Factory Activity Growth at Near 2-Year High, Switzerland Retail Sales Rise Faster in October, Switzerland KOF Indicator Falls for 2nd Month, Payrolls in Switzerland Fall for 2nd Quarter, Swiss Investor Morale Rebounds in November, Switzerland Industrial Production Shrinks in Q3, Oil Prices Slide on Friday, Book Weekly Gain, US Stocks Book Weekly Loss, S&P Links Third Fall, Senegal November Inflation Rate at 5-Month Low, Spanish Shares End Lower, Fall 3.1% on the Week. a trade surplus … Sep 22, 2020. Government Budget in Switzerland averaged -0.46 percent of GDP from 1990 until 2019, reaching an all time high of 1.90 percent of GDP in 2008 and a record low of -3.20 percent of GDP in 1993. In 2019, the Swiss trade surplus widened 19 percent from the previous year to CHF 37 billion, as both imports and exports reached new records despite global trade tensions, Brexit uncertainty and Hong Kong protests. Swiss climate activists appear in court over Credit Suisse 'tennis' protest - Jan 08, 2020. Switzerland News. September's trade surplus was the highest in Switzerland since at least 1987, according to the latest trade figures from the Federal Customs Office. U.S. imports of services from Switzerland were an estimated $25.0 billion in 2019, 8.4% ($1.9 billion) more than 2018, and 29.7% greater than 2009 levels. In 2018 Switzerland was the number 20 economy in the world in terms of GDP (current US$), the number 18 in total exports, the number 17 in total imports, and the number 2 most complex economy according to the Economic Complexity Index (ECI). The trade in goods balance between the EU Member States and Switzerland is shown in Table 1c. Switzerland is currently our 16th largest goods trading partner with $62.5 billion in total (two way) goods trade during 2019. This statistic shows the trade balance of Switzerland from 2009 to 2019. At the end of 2017, total public debt 1 in Switzerland’s was 29.5% of GDP or CHF 23,257 per inhabitant. Under the WTO, Switzerland is committed to lowering customs tariffs and to keep open services markets. U.S. total exports of agricultural products to Switzerland totaled $393 million in 2019. Switzerland ran a 27.65 billion franc surplus last year, up from 25.38 billion in 2018 and 21.08 billion in 2017. The findings indicating that the country's export-dependent economy has weathered a currency market shock that sent the Swiss franc soaring. In 2019, China was the country with the highest trade surplus with approximately 421.9 billion U.S. dollars. The data reached an all-time high of 9.5 USD bn in Apr 2013 and a record low of -1.8 USD bn in Feb 2001. This trade surplus was highest in 2013 at €75 billion and lowest in 2009 at €8 billion. Contrary to its traditionally positive foreign trade balance, Switzerland accumulated a trade deficit of nearly US$554 million in the first 9 months of 2000, compared to more than a US$1 billion surplus for the same period of 1998. Switzerland was the EU's 4th largest partner for imports (6% of total extra-EU imports) and the 3rd largest for EU exports (8% of total extra-EU exports) in 2018. Considering the third quarter as a whole, the trade surplus narrowed to CHF 8.2 billion from CHF 9.6 billion in the previous three-month period. Glencore, with its basis near the tax paradise Zug, is the leader of the global … Switzerland has a large trade surplus. Exports declined 0.4 percent from a month earlier to CHF 17.8 billion, dragged down by sales of chemical & pharmaceutical products, precision instruments, and food and beverages. Overall, Switzerland posted a $36.9 billion trade surplus for 2019. Traditionally, its merchandise trade deficit has been generously compensated by a surplus trade in services. Switzerland's direct investment in the U.S. is led by manufacturing, finance and insurance, and information services. Switzerland's trade surplus remained broadly unchanged in February, and slightly exceeded economists' forecast, latest data showed Thursday. Meanwhile, imports fell 1.8 percent to CHF 14.9 billion dragged by purchases of chemical & pharmaceutical products, machines & electronics, vehicles, textiles and footwear, and precision instruments. a trade surplus exists if there is a net outflow of capital excluding foreign borrowing and lending . According to the Switzerland’s Federal Statistic Office release on Tuesday, the trade surplus in March narrows to 1.69 billion CHF from February’s 2.62 billion CHF. Switzerland’s trade surplus is affected by imported gold from Asia, and reduced demand for luxury Swiss watches. In economic news, Switzerland’s trade surplus narrowed to CHF2.33 billion in October, after recording a surplus of CHF2.92 billion in the prior month. U.S. imports from Switzerland account for 1.8% of overall U.S. imports in 2019. News Related to International Trade in Switzerland . a trade surplus exists if there is a net inflow of capital excluding foreign borrowing and lending . Swiss trade surplus rises. U.S. foreign direct investment (FDI) in Switzerland (stock) was $229.0 billion in 2019, a 9.6% decrease from 2018. The U.S. goods trade deficit with Switzerland was $18.9 billion in 2018, a 32.1% increase ($4.6 billion) over 2017. According to the Switzerland’s Federal Statistic Office release on Tuesday, the trade surplus in March narrows to 1.69 billion CHF from February’s 2.62 billion CHF. The Swiss merchandise trade surplus is particularly strong with the United States, UK, Japan, Middle East, Latin America, Russia, Hong Kong and other Emerging Markets, especially for relatively price-insensitive pharmaceutical and luxury products that are sold. Switzerland was the United States' 14th largest supplier of goods imports in 2019. Switzerland Trade Balance recorded a surplus of 3.3 USD bn in Oct 2020, compared with a surplus of 1.6 USD bn in the previous month. The total surplus for the 4 first months in 2013 was 7.7 billion CHF, about 1.2% of GDP, annualized around 4%. U.S. goods imports from Switzerland totaled $44.6 billion in 2019, up 8.6% ($3.6 billion) from 2018, and up 178.1% from 2009. The trade surplus rose to CHF 3. Among key trade partners, exports decreased to China and the US, but rose to the EU and the UK. 2020 : U.S. trade in goods with Switzerland . The Treasury cited Switzerland's large bilateral goods trade surplus with the United States as well as its overall current account surplus. Airbus Exploring Hydrogen-Powered Aircraft for 2035. German trade surplus with Switzerland. Share Share this Story: Switzerland to meet U.S. criteria for currency manipulator label, sources say. Switzerland's trade surplus declined slightly to CHF 2.6 billion in July 2020 from a downwardly revised CHF 2.7 billion in the previous month amid the coronavirus pandemic. The trade surplus … Switzerland's trade surplus increased to CHF 2.9 billion in October 2020 from a downwardly revised CHF 2.4 billion in the previous month, as the coronavirus pandemic continued to weigh on global demand. Overview: This page contains the latest international trade data for Switzerland. The Trading Economics Application Programming Interface (API) provides direct access to our data. Switzerland's trade surplus increased to CHF 2.9 billion in October 2020 from a downwardly revised CHF 2.4 billion in the previous month, as the coronavirus pandemic continued to weigh on global demand. (RTTNews) - Switzerland's foreign trade surplus increased in November, figures from the Federal Customs Administration showed Thursday. Switzerland recorded a Government Budget surplus equal to 1.50 percent of the country's Gross Domestic Product in 2019. This surplus amounted in 1999 to US$18.7 billion or 7.5 percent of GDP. Economists use the Trade Balance to evaluate the structure of trade flows between countries. Published on May 29, 2009. 2020 : U.S. trade in goods with Switzerland . Imports were up from the Euro Area, the UK, Hong Kong and the US, but were down from China, Japan. Trade Balance. Switzerland also meets the other two criteria, by having a bilateral goods surplus of more than $20 billion and a current account of surplus of more than 2%. Switzerland belongs to those countries where the share of foreign trade in gross domestic product (GDP) is highest. Switzerland's FDI in the United States (stock) was$300.4 billion in 2019, up 1.6% from 2018. Switzerland typically runs a deficit in bilateral services trade, although 2019 data have not yet been released. That dollar amount represents a 15.8% increase from $31.9 billion in black ink for 2018. Switzerland's trade surplus increased to CHF 3.4 billion in August 2020 from a revised CHF 2.5 billion in the previous month, as exports increased above CHF 18.0 billion for the first time since March, led by sales of chemical & pharmaceutical products, machines & electronics, watches, metals, and jewelry. Discover more about trade surplus'. With the increase in textile production and the modernization of spinning techniques, Switzerland soon began exporting surplus textiles. Trade in services with Switzerland (exports and imports) totaled an estimated $71.9 billion in 2019. A trade deficit is formed when more goods and services are imported than exported. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Details may not equal totals due to rounding. Switzerland was the United States' 19th largest goods export market in 2019. Purchases increased 1.9 percent from a month earlier to CHF 15.2 billion led by chemical & pharmaceutical products, vehicles, metals, textiles and footwear, and precision instruments. Trade with Swiss Bank. Meanwhile, exports fell 1.9 percent from a month earlier to CHF 17.9 billion, dragged down by sales of chemical & pharmaceutical products, machines & electronics, watches, metals, and jewelry. Swiss trade surplus with Germany. Leading domestic export categories include: tobacco ($204 million), tree nuts ($32 million), wine & beer ($15 million), beef & beef products ($10 million), and snack foods not elsewhere specified or indicated ($10 million). Due to Switzerland being strict with their food regulations, many trading countries have to adapt their products to fit in with European guidelines. In 2019, Switzerland GDP was an estimated $715.4 billion (current market exchange rates); real GDP was up by an estimated 0.9%; and the population was 9 million. Tuesday, 24 April 2012 02:42. Foreign trade is an important pillar of the Swiss economy. Switzerland Trade Balance data is updated monthly, available from Jan 1957 to Oct 2020, with an averaged value of -43.6 USD mn. Switzerland was the EU's 4th largest partner for imports (6% of total extra-EU imports) and the 3rd largest for EU exports (8% of total extra-EU exports) in 2018. The Swiss global transit trade . The biggest trade surpluses were recorded with the US, India, the UK, China, Hong Kong, Japan and Singapore; and the largest deficits were recorded with the UAE, Germany, Ireland, Italy and Thailand. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. According to the Department of Commerce, U.S. exports of goods and services to Switzerland supported an estimated 271 thousand jobs in 2015 (latest data available) (73 thousand supported by goods exports and 199 thousand supported by services exports). This statistic shows the 20 countries with the highest trade surplus worldwide in 2019. Switzerland ran a 27.65 billion franc surplus last year, up from 25.38 billion in 2018 and 21.08 billion in 2017. Table reflects only those months for which there was trade. The Treasury cited Switzerland’s large bilateral goods trade surplus with the United States as well as its overall current account surplus. A second reason for the Swiss trade deficit with the Europeans is that many companies base their global distribution in Switzerland but the products were imported first from other European countries, like Italy or Germany, the so-called transit trade or merchandising. Download historical data for 20 million indicators using your browser. That positive balance represents a 15.8% increase from $31.9 billion in black ink one year earlier. In 2018, Switzerland exported $310B and imported $294B, resulting in a positive trade balance of $16.9B. Leading services exports from the U.S. to Switzerland were in the intellectual property (industrial processes), research and development services, and professional and management services sectors. Switzerland Trade Surplus Falls In February | Financial News Exports rely mostly on high-tech sectors, which are less dependent on the international economic situation than other industries. The top import categories (2-digit HS) in 2019 were: pharmaceuticals ($16 billion), special other (returns) ($7.0 billion), organic chemicals ($4.0 billion), optical and medical instruments ($3.9 billion), and clocks and watches ($3.2 billion). U.S. direct investment in Switzerland is led by nonbank holding companies, manufacturing, and finance and insurance. For the 24 hours to 23:00 GMT, the USD declined 0.67% against the CHF and closed at 0.9327. Adopting a continental lens, 51.6% of Swiss exports by value in 2019 were delivered to fellow European countries while 28.6% were sold to Asian importers. U.S. exports to Switzerland account for 1% of overall U.S. exports in 2019. With an export surplus of 37 billion Swiss francs (2019), the country generates the bulk of its wealth by exporting its goods and services. Switzerland posts trade surplus of 36.6 billion Swiss francs ($36.1bn, 33bn euros) in 2015 despite declines in exports. Overall, Switzerland posted a $36.9 billion trade surplus for 2019. Switzerland shipped US$314.1 billion worth of products around the globe in 2019. The increase was mainly due to an increase in labor and investment income, the SNB said. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. February's international trade resulted in a surplus of CHF2. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. The current account surplus in Switzerland narrowed to CHF 17.4 billion in the first quarter of 2020 from CHF 20.1 billion a year earlier, mainly due to trade in services, particularly licence fees, telecommunications, computer and information services, and business services. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. In 2018 Switzerland was the number 20 economy in the world in terms of GDP (current US$), the number 18 in total exports, the number 17 in total imports, and the number 2 most complex economy according to the Economic Complexity Index (ECI). While pharmaceuticals, chemicals, and automobiles led the drop, there were improvements in sales of machines, electronics, precision instruments, and metals. Details may not equal totals due to rounding. Open Multi-Currency Account (MCA) Open Demo FX Account Open Live FX Account English (Source: IMF). That figure represents roughly 1.6% of overall global exports for 2018 estimated at $19.285 trillion. The top export categories (2-digit HS) in 2019 were: precious metal and stone (gold) ($7.3 billion), pharmaceuticals ($2.0 billion), art and antiques ($1.8 billion), optical and medical instruments ($1.4 billion), and aircraft ($1.3 billion). Advertisement. If the demand for the Swiss franc rises, it will appreciate relative to the euro, unless the central banks intervene to stabilize the exchange rate, and will create a balance-of-payments deficit for Germany. U.S. goods and services trade with Switzerland totaled an estimated $134.4 billion in 2019. Swiss merchandise exports to the EU are concentrated on a few sectors, particularly chemicals/pharma and medical products, machinery, instruments and watches. This page provides - Switzerland Government Budget - actual values, … Trade surplus narrows in Switzerland. Switzerland had a total export of 310,524,275.09 in thousands of US$ and total imports of 278,665,555.58 in thousands of US$ leading to a positive trade balance of 31,858,719.51 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Switzerland is 1.70% and the Most Favored Nation (MFN) Weighted Average tariff is 3.42%.The trade growth is 1.21% compared to … Leading services imports from Switzerland to the U.S. were in the intellectual property (industrial processes), professional and management services, and insurance services sectors. Sales of services in Switzerland by majority U.S.-owned affiliates were $81.2 billion in 2017 (latest data available), while sales of services in the United States by majority Switzerland-owned firms were $48.4 billion. Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus. Goods exports totaled $17.9 billion; goods imports totaled $44.6 billion. Switzerland belongs to those countries where the share of foreign trade in gross domestic product (GDP) is highest. In economic news, Switzerland’s trade surplus widened to CHF3.4 billion in July, compared to a revised surplus of CHF3.2 billion in June. Switzerland has been a member of the World Trade Organization since July 1995. The main partners in the cross-border trade of goods are the industrialised countries; the EU is particularly important. Switzerland’s exported goods totaled $208 billion during the first 8 months of 2020. Applying last year’s surplus of CHF 2.9 billion to Switzerland’s CHF 197 billion debt mountain would only reduce it by 1.5% or CHF 341 per person. With the rise in the textile industry, there was an increased need in inexpensive labor and raw materials, which Switzerland was lacking and thus began importing from other countries. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. In 2019, Switzerland's trade balance - the value of goods exported minus the value of goods imported - showed a surplus … Exports to the US market have doubled since 2011. Switzerland has recorded a SFr7.1 billion ($5.75 billion) trade surplus for the January to September period, the biggest surplus in the past four years. Home News Swiss trade surplus rises. The following types of Swiss product shipments represent positive net exports or a trade balance surplus. Among key trade partners, exports declined to the Euro Area, the US, Japan, Singapore, Hong Kong and the Middle East. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019. According to the Federal Customs Administration, Switzerland’s trade surplus slipped to $2.5 billion in December, down from $2.36 billion in November as exports declined for the third consecutive month. The services surplus dhrank sharply to CHF 3 billion from CHF 6.6 billion. In economic news, Switzerland’s trade surplus widened to CHF2.9 billion in September, after recording a revised surplus of CHF2.2 billion in the prior month. For countries with highly developed economies, like Switzerland, it means that labor-intensive production is transferred abroad, thus restraining inflation and maintaining high standard of living. Copy Link; Email; Facebook; Twitter; Reddit; LinkedIn; Tumblr; Trending. Meanwhile, imports dropped 3.3 percent to CHF 14.9 billion led by chemical & pharmaceutical products, vehicles, food and beverages, and precision instruments. Tuesday, 24 April 2012 02:42 . Services exports were $46.8 billion; services imports were $25.0 billion. U.S. goods exports to Switzerland in 2019 were $17.9 billion, down 19.3% ($4.3 billion) from 2018 but up 2.2% from 2009. Considering the first eight months of the year, the trade surplus widened to CHF 23.4 billion from CHF 15.9 billion in the same period of 2019. U.S. total imports of agricultural products from Switzerland totaled $1.4 billion in 2019, our 23th largest supplier of agricultural imports. The main partners in the cross-border trade of goods are the industrialised countries; the EU is particularly important. Switzerland had a total export of 310,524,275.09 in thousands of US$ and total imports of 278,665,555.58 in thousands of US$ leading to a positive trade balance of 31,858,719.51 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Switzerland is 1.70% and the Most Favored Nation (MFN) Weighted Average tariff is 3.42%.The trade growth is 1.21% compared to … The United States has a services trade surplus of an estimated $22 billion with Switzerland in 2019, up 16.1% from 2018. The U.S. services trade surplus with Switzerland was $21.8 billion in 2019. Assuming an annualized $312 billion in exports for all 2020, Switzerland is on track for an estimated -0.7% drop in value for its shipments from 2019 to 2020. The U.S. goods and services trade deficit with Switzerland was $5.0 billion in 2019. Imports were down from the Euro Area, China, Singapore, but were up from the UK, Japan and the US. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. Between 2008 and 2018, the EU ran a trade surplus with Switzerland (meaning that it exported more than it imported). Leading categories include: roasted & instant coffee ($361 million), snack foods ($128 million), cheese ($89 million), essential oils ($26 million), and other dairy products ($8 million). According to WTO data, in 2018, Switzerland's exports amounted to USD 310.7 billion while imports amounted to USD 279.5 billion. Switzerland has a trade surplus with the US, Canada, the UK and many emerging markets. 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