Russia (RUS) and Switzerland (CHE) Trade

2022

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Exports $3.96BRnk 27 / 138

2022

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About

Russia-Switzerland Trade: In 2022, Russia exported $3.96B to Switzerland. The main products that Russia exported to Switzerland were Gold ($3.71B), Platinum ($72.6M), and Petroleum Gas ($14.3M). Over the past 5 years the exports of Russia to Switzerland have increased at an annualized rate of 2.38%, from $3.52B in 2017 to $3.96B in 2022.

In 2020, Russia exported services to Switzerland worth $3.64B, with Transportation ($1.65B), Other business services ($929M), and Construction services ($403M) being the largest in terms of value.

Switzerland-Russia Trade: In 2022, Switzerland exported $3.12B to Russia. The main products that Switzerland exported to Russia were Packaged Medicaments ($1.05B), Vaccines, blood, antisera, toxins and cultures ($948M), and Nitrogen Heterocyclic Compounds ($167M). Over the past 5 years the exports of Switzerland to Russia have increased at an annualized rate of 6.62%, from $2.27B in 2017 to $3.12B in 2022.

In 2019, Switzerland exported services to Russia worth $2.26B, with Transportation ($1.27B), Royalties and license fees ($360M), and Financial services ($301M) being the largest in terms of value.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Switzerland ranked 2 in the Economic Complexity Index (ECI 1.97), and 17 in total exports ($402B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $99.8M and imported $168M from Switzerland, resulting in a negative trade balance of $67.9M. Between January 2021 and January 2022 the exports of Russia have decreased by $-46.7M (-31.9%) from $147M to $99.8M, while imports decreased by $-44.3M (-20.9%) from $212M to $168M.

Trade In January 2022, the top exports of Russia to Switzerland were Platinum ($66.3M), Refined Petroleum ($26M), Gold ($11.6M), Raw Lead ($9.98M), and Commodities not elsewhere specified ($6.23M). In January 2022 the top imports of Russia from Switzerland were Vaccines, blood, antisera, toxins and cultures ($52.3M), Nucleic Acids ($39.6M), Packaged Medicaments ($18.1M), Malt Extract ($8.12M), and Medical Instruments ($6.19M).

Origins In January 2022 the exports of Russia were mainly from KOSTROMA REGION ($29.4M), MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($23M), KRASNODAR TERRITORY ($22.5M), MOSCOW REGION ($5.79M), and REPUBLIC OF TATARSTAN ($4.07M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($112M), ST. PETERSBURG ($15.6M), MOSCOW REGION ($11.5M), REPUBLIC OF TATARSTAN ($4.93M), and KIROV REGION ($3.96M).

Growth In January 2022, the decrease in Russia's year-by-year exports to Switzerland was explained primarily by an decrease in product exports in Platinum ($-38.3M or -36.6%), Gold ($-15M or -56.4%), and Styrene Polymers ($-771k or -58.9%). In January 2022, the decrease in Russia's year-by-year imports from Switzerland was explained primarily by an decrease in product imports in Nitrogen Heterocyclic Compounds ($-4.77M or -80.8%), Nucleic Acids ($-4.13M or -9.45%), and Vaccines, blood, antisera, toxins and cultures ($-2.36M or -4.32%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$-46.7M(-31.9%)

IMPORT GROWTH (January 2021 - January 2022)$-44.3M(-20.9%)

MAIN EXPORTER (January 2022)KOSTROMA REGION$29.4M

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

To check Switzerland and Russia 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, Russia exported $3.96B to Switzerland. The main products exported from Russia to Switzerland were Gold ($3.71B), Platinum ($72.6M), and Petroleum Gas ($14.3M). During the last 5 years the exports of Russia to Switzerland have increased at an annualized rate of 2.38%, from $3.52B in 2017 to $3.96B in 2022.

In 2017, Switzerland exported $3.12B to Russia. The main products exported from Switzerland to Russia were Packaged Medicaments ($1.05B), Vaccines, blood, antisera, toxins and cultures ($948M), and Nitrogen Heterocyclic Compounds ($167M). During the last 5 years the exports of Switzerland to Russia have increased at an annualized rate of 6.62%, from $2.27B in 2022 to $3.12B in 2017.

Exports from Russia () to Switzerland () (2022)

Exports from Switzerland () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Switzerland
Top DestinationUnited States$61.7B

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

In 2022, countries that imported more from Russia than Switzerland included China ($101B), India ($40.4B), and Kazakhstan ($16.5B).

In 2022, countries that imported more from Switzerland than Russia included United States ($61.7B), Germany ($53.5B), and Austria ($10.8B).

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

Comparative Advantage Russia - Switzerland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Switzerland in the exports of Precious Metals ($3.81B), Metals ($29.4M), and Chemical Products ($21.6M).

During 2017, Switzerland had a large net trade with Russia in the exports of Chemical Products ($2.38B), Instruments ($211M), and Machines ($203M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Switzerland+$50.2MPetroleum Gas

Top Product Potential Switzerland Russia+$285MPackaged Medicaments

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

Rus Year

In 2020, Russia exported services to Switzerland worth $3.64B, with Transportation ($1.65B), Other business services ($929M), and Construction services ($403M) being the largest in terms of value.

In 2019, Switzerland exported services to Russia worth $2.26B, with Transportation ($1.27B), Royalties and license fees ($360M), and Financial services ($301M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Switzerland () (2020)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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