Switzerland2020 Economic Complexity : 1.99, Rank 2 of 127
2020 Product Exports | Imports: $305B | $302B, 15 of 226 | 16 of 226
2020 Per Capita Product Exports | Imports: $35.4k | $35k, 3 of 219 | 8 of 219
2019 Service Exports | Imports : $117B | $95.5B, 8 of 108 | 12 of 108
Overview In 2020, Switzerland was the number 18 economy in the world in terms of GDP (current US$), the number 15 in total exports, the number 16 in total imports, the number 4 economy in terms of GDP per capita (current US$) and the number 2 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Switzerland are Gold ($68.5B), Packaged Medicaments ($46.3B), Vaccines, blood, antisera, toxins and cultures ($30.2B), Base Metal Watches ($11.5B), and Nitrogen Heterocyclic Compounds ($11.4B), exporting mostly to United States ($62B), Germany ($49.2B), China ($17.3B), France ($16.3B), and United Kingdom ($14.5B).
In 2020, Switzerland was the world's biggest exporter of Gold ($68.5B), Base Metal Watches ($11.5B), Precious Metal Watches ($6.07B), Hydrazine or Hydroxylamine Derivatives ($495M), and Other Clocks and Watches ($317M)
Imports The top imports of Switzerland are Gold ($87.4B), Packaged Medicaments ($26.6B), Vaccines, blood, antisera, toxins and cultures ($11.8B), Cars ($9.65B), and Jewellery ($7.83B), importing mostly from Germany ($62.7B), Italy ($25.1B), United States ($19.7B), France ($16.3B), and China ($14.9B).
In 2020, Switzerland was the world's biggest importer of Gold ($87.4B), Watch Straps ($451M), Other Clocks and Watches ($280M), Watch Cases and Parts ($274M), and Gold Clad Metals ($17.2M)
Location Switzerland borders Austria, France, Italy, and Germany by land.
The following section uses the most recent trade data from partners of Switzerland.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Gold, $68.5B
Top Destination (2020): United States, $62.7B
In 2020, Switzerland exported a total of $305B, making it the number 15 exporter in the world. During the last five reported years the exports of Switzerland have changed by $13.2B from $292B in 2015 to $305B in 2020.
The most recent exports are led by Gold ($68.5B), Packaged Medicaments ($46.3B), Vaccines, blood, antisera, toxins and cultures ($30.2B), Base Metal Watches ($11.5B), and Nitrogen Heterocyclic Compounds ($11.4B). The most common destination for the exports of Switzerland are United States ($62B), Germany ($49.2B), China ($17.3B), France ($16.3B), and United Kingdom ($14.5B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Switzerland Exports Services (2019): $117B
Switzerland Imports Services (2019): $95.5B
In 2019, Switzerland exported $117B worth of services. The top services exported by Switzerland in 2019 were Royalties and license fees ($29.8B), Financial services ($21.7B), Travel ($18B), Transportation ($15.2B), and Miscellaneous business, professional, and technical services ($13.5B).
The top services imported by Switzerland in 2019 were Miscellaneous business, professional, and technical services ($24.9B), Travel ($18.8B), Royalties and license fees ($17.2B), Computer and information services ($15.8B), and Transportation ($13.6B).
Switzerland has a high level of specialization in Base Metal Watches (31.4), Precious Metal Watches (30.6), Hydrazine or Hydroxylamine Derivatives (18.9), Other Clocks and Watches (13.3), and Watch Movements (12.1). Specialization is measured using RCA, an index that takes the ratio between Switzerland observed and expected exports in each product.
The highest complexity exports of Switzerland according to the product complexity index (PCI) are Machining centres, unit construction machines (single station) and multi-station transfer machines for working metal (2.55), Machine-tools; for planing, shaping, slotting, broaching, gear cutting and grinding, finishing, sawing, cutting off and other tools working by removing metal, sintered metal carbides or cermets n.e.c. (2.09), Cermets; articles thereof, including waste and scrap (2.08), Esters of other inorganic acids of non-metals (other than of hydrogen halides) and their salts, their halogenated, sulphonated, nitrated or nitrosated derivatives (1.96), and Machinery and mechanical appliances; having individual functions, n.e.c. in this chapter (1.95). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Switzerland according to the relatedness index, are Developed Exposed Photographic Material (0.23), Artificial Textile Machinery (0.22), Non-optical Microscopes (0.22), Halides (0.22), and Nickel Sheets (0.22). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Switzerland is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Switzerland's economy has become relatively more complex, moving from the 3rd to the 2nd position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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