Switzerland2019 Economic Complexity : 1.96, Rank 3 of 146
2019 Product Exports | Imports: $310B | $293B, 17 of 225 | 17 of 225
2019 Per Capita Product Exports | Imports: $36.1k | $34.2k, 3 of 219 | 7 of 219
2019 Service Exports | Imports : $105B | $85.9B, 3 of 69 | 2 of 69
Overview In 2019 Switzerland was the number 20 economy in the world in terms of GDP (current US$), the number 17 in total exports, the number 17 in total imports, the number 4 economy in terms of GDP per capita (current US$) and the number 3 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Switzerland are Gold ($59B), Packaged Medicaments ($46.2B), Blood, antisera, vaccines, toxins and cultures ($32.9B), Base Metal Watches ($13.6B), and Jewellery ($10.9B), exporting mostly to Germany ($48.1B), United States ($42.5B), United Kingdom ($24.4B), China ($21.7B), and France ($19.2B).
In 2019, Switzerland was the world's biggest exporter of Gold ($59B), Blood, antisera, vaccines, toxins and cultures ($32.9B), Base Metal Watches ($13.6B), Precious Metal Watches ($7.32B), and Hydrazine or Hydroxylamine Derivatives ($501M)
Imports The top imports of Switzerland are Gold ($63.5B), Packaged Medicaments ($20.4B), Jewellery ($16.6B), Cars ($10.7B), and Blood, antisera, vaccines, toxins and cultures ($9.99B), importing mostly from Germany ($62.3B), Italy ($24.5B), United States ($18.4B), France ($18.3B), and United Kingdom ($15.4B).
In 2019, Switzerland was the world's biggest importer of Jewellery ($16.6B), Metal-Clad Products ($1.38B), Watch Straps ($661M), Watch Cases and Parts ($440M), and Other Clocks and Watches ($348M)
Location Switzerland borders Austria, France, Italy, and Germany by land.
In 2019, Switzerland exported a total of $310B, making it the number 17 exporter in the world. During the last five reported years the exports of Switzerland have changed by -$5.89B from $316B in 2014 to $310B in 2019.
The most recent exports are led by Gold ($59B), Packaged Medicaments ($46.2B), Blood, antisera, vaccines, toxins and cultures ($32.9B), Base Metal Watches ($13.6B), and Jewellery ($10.9B). The most common destination for the exports of Switzerland are Germany ($48.1B), United States ($42.5B), United Kingdom ($24.4B), China ($21.7B), and France ($19.2B).
In 2019 Switzerland imported $293B, making it the number 17 trade destination in the world. During the last five reported years the imports of Switzerland changed by $9.94B from $283B in 2014 to $293B in 2019.
The most recent imports of Switzerland are led by Gold ($63.5B), Packaged Medicaments ($20.4B), Jewellery ($16.6B), Cars ($10.7B), and Blood, antisera, vaccines, toxins and cultures ($9.99B). The most common import partners for Switzerland are Germany ($62.3B), Italy ($24.5B), United States ($18.4B), France ($18.3B), and United Kingdom ($15.4B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Switzerland Exports Services (2019): $105B
Switzerland Imports Services (2019): $85.9B
In 2019, Switzerland exported $105B worth of services. The top services exported by Switzerland in 2019 were Royalties and license fees ($26.8B), Financial services ($19.5B), Travel ($16.1B), Transportation ($13.6B), and Miscellaneous business, professional, and technical services ($12.1B).
The top services imported by Switzerland in 2019 were Miscellaneous business, professional, and technical services ($22.3B), Travel ($16.9B), Royalties and license fees ($15.5B), Computer and information services ($14.2B), and Transportation ($12.2B).
The top product import tariffs by their MFN Ad Valorem value for Switzerland are Non-alcoholic beverages; other than non-alcoholic beer, n.e.c. in item no. 2202.10, not including fruit or vegetable juices of heading no. 2009 (899k%) and Cigarettes containing tobacco (736k%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Switzerland are:
Switzerland has a high level of specialization in Base Metal Watches (32.5), Precious Metal Watches (32.1), Hydrazine or Hydroxylamine Derivatives (21.6), Other Clocks and Watches (12.7), and Gold (10.1). 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 centre, single/multistation transfer machine (2.42), Machines nes having individual functions (2.05), Machine-tools for shaping metals, nes (2.03), Cermets and articles thereof, waste or scrap (1.93), and Measuring or checking instruments nes (1.93). 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 (0.23), Nickel Sheets (0.23), Halides (0.23), and Non-optical Microscopes (0.23). 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 4th to the 3rd 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.