India (IND) and Switzerland (CHE) Trade | The Observatory of Economic Complexity

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India-Switzerland Trade: In 2022, India exported $1.51B to Switzerland. The main products that India exported to Switzerland were Diamonds ($278M), Nitrogen Heterocyclic Compounds ($245M), and Raw Aluminium ($188M). Over the past 5 years the exports of India to Switzerland have increased at an annualized rate of 34.9%, from $339M in 2017 to $1.51B in 2022.

In 2022, India did not export any services to Switzerland.

Switzerland-India Trade: In 2022, Switzerland exported $20.2B to India. The main products that Switzerland exported to India were Gold ($13B), Coal Briquettes ($411M), and Packaged Medicaments ($161M). Over the past 5 years the exports of Switzerland to India have increased at an annualized rate of 79.9%, from $1.07B in 2017 to $20.2B in 2022.

In 2019, Switzerland exported services to India worth $958M, with Travel ($473M), Royalties and license fees ($187M), and Transportation ($137M) being the largest in terms of value.

Comparison: In 2022, India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). That same year, Switzerland ranked 2 in the Economic Complexity Index (ECI 1.97), and 17 in total exports ($402B).

Latest Trends

March, 2024

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Overview In March 2024, India exported $290M and imported $779M from Switzerland, resulting in a negative trade balance of $488M. Between March 2023 and March 2024 the exports of India have increased by $177M (157%) from $113M to $290M, while imports decreased by $-801M (-50.7%) from $1.58B to $779M.

Trade In March 2024, the top exports of India to Switzerland were Gold ($54.3M), Residul Chemicl And Alled Prod ($35M), Pearl, Precs, Semiprecs Stones ($9.28M), Organic Chemicals ($8.58M), and Other Miscellaenious Chemicals ($4.54M). In March 2024 the top imports of India from Switzerland were Gold ($147M), Drug Formulations, Biologicals ($38M), Vegetable Oils ($30.1M), Indl. Machnry For Dairy Etc ($22.1M), and Medical And Scientific Instrum ($20.5M).

Growth In March 2024, the increase in India's year-by-year exports to Switzerland was explained primarily by an increase in product exports in Residul Chemicl And Alled Prod ($9.83M or 39%), Other Commodities ($2.18M or 180%), and Other Misc. Engineering Items ($1.55M or 67.9%). In March 2024, the decrease in India's year-by-year imports from Switzerland was explained primarily by an decrease in product imports in Gold ($-383M or -72.3%), Silver ($-11M or -96.4%), and Other Commodities ($-4.36M or -80.4%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$177M(157%)

IMPORT GROWTH (March 2023 - March 2024)$-801M(-50.7%)

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

To check Switzerland and India 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 2022, India exported $1.51B to Switzerland. The main products exported from India to Switzerland were Diamonds ($278M), Nitrogen Heterocyclic Compounds ($245M), and Raw Aluminium ($188M). During the last 5 years the exports of India to Switzerland have increased at an annualized rate of 34.9%, from $339M in 2017 to $1.51B in 2022.

In 2017, Switzerland exported $20.2B to India. The main products exported from Switzerland to India were Gold ($13B), Coal Briquettes ($411M), and Packaged Medicaments ($161M). During the last 22 years the exports of Switzerland to India have increased at an annualized rate of 79.9%, from $1.07B in 1995 to $20.2B in 2017.

Exports from India () to Switzerland () (2022)

Exports from Switzerland () to India () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

India
Top DestinationUnited States$82.9B

Switzerland
Top DestinationUnited States$61.7B

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

In 2022, countries that imported more from India than Switzerland included United Arab Emirates ($31.6B), United States ($82.9B), and Bangladesh ($13.8B).

In 2022, countries that imported more from Switzerland than India included Germany ($53.5B), China ($44.1B), and Italy ($22.8B).

Difference in imports from Switzerland () and India () (2022)

Comparative Advantage India - Switzerland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, India had a large net trade with Switzerland in the exports of Chemical Products ($908M), Precious Metals ($321M), and Textiles ($313M).

During 2017, Switzerland had a large net trade with India in the exports of Precious Metals ($13.1B), Machines ($656M), and Chemical Products ($597M).

Service Trade

Bilateral Service Trade

Che Year

In 2019, Switzerland exported services to India worth $958M, with Travel ($473M), Royalties and license fees ($187M), and Transportation ($137M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Switzerland () to India () (2019)

Economic Complexity

Competitive Landscape

Year

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

About

Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from India () to Switzerland () (2022)

Exports from Switzerland () to India () (2022)

Market Competitiveness

Difference in imports from Switzerland () and India () (2022)

Comparative Advantage India - Switzerland

Service Trade

Bilateral Service Trade

Services Exports from Switzerland () to India () (2019)

Economic Complexity

Competitive Landscape

Product Space of India () and Switzerland () (2022)

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