United Kingdom (GBR) and Switzerland (CHE) Trade

2023

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Exports $7.18BRnk 14 / 223

2023

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About

United Kingdom-Switzerland Trade: In 2023, United Kingdom exported $7.18B to Switzerland. The main products that United Kingdom exported to Switzerland were Gold ($2.44B), Cars ($509M), and Packaged Medicaments ($495M). Over the past 5 years the exports of United Kingdom to Switzerland have decreased at an annualized rate of 23%, from $26.6B in 2018 to $7.18B in 2023.

In 2019, United Kingdom exported services to Switzerland worth $5.28B, with Financial services ($1.99B), Transportation ($1.11B), and Travel ($903M) being the largest in terms of value.

Switzerland-United Kingdom Trade: In 2023, Switzerland exported $13.6B to United Kingdom. The main products that Switzerland exported to United Kingdom were Gold ($3.26B), Vaccines, blood, antisera, toxins and cultures ($1.43B), and Nitrogen Heterocyclic Compounds ($1.39B). Over the past 5 years the exports of Switzerland to United Kingdom have increased at an annualized rate of 11.3%, from $7.98B in 2018 to $13.6B in 2023.

In 2019, Switzerland exported services to United Kingdom worth $10.4B, with Royalties and license fees ($3.38B), Transportation ($2.76B), and Financial services ($1.67B) being the largest in terms of value.

Comparison: In 2023, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B). That same year, Switzerland ranked 3 in the Economic Complexity Index (ECI 1.96), and 17 in total exports ($398B).

Latest Trends

November, 2024

About

Overview In November 2024, United Kingdom exported £4.63B and imported £1.24B from Switzerland, resulting in a positive trade balance of £3.39B. Between November 2023 and November 2024 the exports of United Kingdom have increased by £3.61B (357%) from £1.01B to £4.63B, while imports decreased by £-95.6M (-7.15%) from £1.34B to £1.24B.

Trade In November 2024, the top exports of United Kingdom to Switzerland were Gold (£640M), Packaged Medicaments (£58.3M), Cars (£29.1M), Vaccines, blood, antisera, toxins and cultures (£22.6M), and Gas Turbines (£22.5M). In November 2024 the top imports of United Kingdom from Switzerland were Gold (£114M), Vaccines, blood, antisera, toxins and cultures (£67.2M), Packaged Medicaments (£61.8M), Base Metal Watches (£48.6M), and Planes, Helicopters, and/or Spacecraft (£45.9M).

Origins In November 2024 the exports of United Kingdom were mainly from London Heathrow Airport (£4.37B), Dover Eurotunnel (£153M), Immingham (£28.3M), East Midlands Airport (£20.2M), and London Stansted Airport (£10.4M), while imports destinations were mainly London Heathrow Airport (£703M), Dover (£88.1M), Hull (£72.1M), and Dover Eurotunnel (£37M).

Growth In November 2024, the increase in United Kingdom's year-by-year exports to Switzerland was explained primarily by an increase in product exports in Packaged Medicaments (£30.6M or 111%), Gas Turbines (£21.6M or 2.42k%), and Vaccines, blood, antisera, toxins and cultures (£17.9M or 387%). In November 2024, the decrease in United Kingdom's year-by-year imports from Switzerland was explained primarily by an decrease in product imports in N/A.

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)£3.61B(357%)

IMPORT GROWTH (November 2023 - November 2024)£-95.6M(-7.15%)

MAIN EXPORTER (November 2024)London Heathrow Airport£4.37B

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Switzerland and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, United Kingdom exported $7.18B to Switzerland. The main products exported from United Kingdom to Switzerland were Gold ($2.44B), Cars ($509M), and Packaged Medicaments ($495M). During the last 5 years the exports of United Kingdom to Switzerland have decreased at an annualized rate of 23%, from $26.6B in 2018 to $7.18B in 2023.

In 2018, Switzerland exported $13.6B to United Kingdom. The main products exported from Switzerland to United Kingdom were Gold ($3.26B), Vaccines, blood, antisera, toxins and cultures ($1.43B), and Nitrogen Heterocyclic Compounds ($1.39B). During the last 5 years the exports of Switzerland to United Kingdom have increased at an annualized rate of 11.3%, from $7.98B in 2023 to $13.6B in 2018.

Exports from United Kingdom () to Switzerland () (2023)

Exports from Switzerland () to United Kingdom () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$59.7B

Switzerland
Top DestinationGermany$53.8B

This map shows whether countries import more from United Kingdom or Switzerland. Each country is colored based on the difference in imports they receive from United Kingdom and Switzerland or the difference in the growth in imports.

In 2023, countries that imported more from United Kingdom than Switzerland included Netherlands ($29.8B), Ireland ($29.1B), and United States ($59.7B).

In 2023, countries that imported more from Switzerland than United Kingdom included Germany ($53.8B), Turkey ($19.3B), and China ($47.7B).

Difference in imports from Switzerland () and United Kingdom () (2023)

Comparative Advantage United Kingdom - Switzerland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between United Kingdom and Switzerland by product, considering products traded by both, United Kingdom and Switzerland.

During 2023, United Kingdom had a large net trade with Switzerland in the exports of Precious Metals ($2.99B), Chemical Products ($1.14B), and Machines ($837M).

During 2018, Switzerland had a large net trade with United Kingdom in the exports of Chemical Products ($4.03B), Precious Metals ($3.81B), and Instruments ($2.53B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Switzerland+$421MGold

Top Product Potential Switzerland United Kingdom+$763MGold

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Che Year

Gbr Year

In 2019, United Kingdom exported services to Switzerland worth $5.28B, with Financial services ($1.99B), Transportation ($1.11B), and Travel ($903M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Switzerland () (2019)

Services Exports from Switzerland () to United Kingdom () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of United Kingdom and Switzerland. This means that a dot/product with the flag of United Kingdom indicates it has a comparative advantage over Switzerland. Similarly, a dot/product with the flag of Switzerland indicates it has a comparative advantage over United Kingdom.

Product Space of United Kingdom () and Switzerland () (2023)

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