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), Blood, antisera, vaccines, 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), Blood, antisera, vaccines, 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.

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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.

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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.

Historical Data

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Yearly Exports

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Top Export (2020): Gold, $68.5B

Top Destination (2020): United States, $62B

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), Blood, antisera, vaccines, 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).

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Yearly Imports

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Top Import (2020): Gold, $87.4B

Top Origin (2020): Germany, $62.7B

In 2020 Switzerland imported $302B, making it the number 16 trade destination in the world. During the last five reported years the imports of Switzerland changed by $48B from $254B in 2015 to $302B in 2020.

The most recent imports of Switzerland are led by Gold ($87.4B), Packaged Medicaments ($26.6B), Blood, antisera, vaccines, toxins and cultures ($11.8B), Cars ($9.65B), and Jewellery ($7.83B). The most common import partners for Switzerland are Germany ($62.7B), Italy ($25.1B), United States ($19.7B), France ($16.3B), and China ($14.9B).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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).

Tariffs by Product

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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:
136: Most Favoured Nation duty rate treatement
160: Preferential tariff for Albania
162: Preferential tariff for Andorra
172: Preferential tariff for Bosnia and Herzegovina
178: Preferential tariff for Canada
182: Preferential tariff for Chile
185: Preferential tariff for China (without Hong Kong)
186: Preferential tariff for China, Hong Kong Special Administrative Region
187: Preferential tariff for China, Macao Special Administrative Region
189: Preferential tariff for Colombia
192: Preferential tariff for Costa Rica
193: Preferential tariff for Costa Rica and Panama
206: Preferential tariff for Egypt
217: Preferential tariff for European Free Trade Association (EFTA) countries
218: Preferential tariff for European Union countries
221: Preferential tariff for Faeroe Islands
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
231: Preferential tariff for Gulf Cooperation Council (GCC)
239: Preferential tariff for India
244: Preferential tariff for Israel
246: Preferential tariff for Japan
247: Preferential tariff for Jordan
255: Preferential tariff for Lebanon
256: Preferential tariff for Lesotho
258: Preferential tariff for Liechtenstein
263: Preferential tariff for Macedonia, Former Yugoslav Republic of
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
284: Preferential tariff for Pakistan
285: Preferential tariff for Panama
289: Preferential tariff for Peru
290: Preferential tariff for Philippines
299: Preferential tariff for Singapore
303: Preferential tariff for Southern African Customs Union (SACU) countries
304: Preferential tariff for Sri Lanka
312: Preferential tariff for the Democratic People's Republic of Korea
321: Preferential tariff for Tunisia
322: Preferential tariff for Turkey
325: Preferential tariff for Ukraine
373: Switzerland Generalized System of Preference
374: Switzerland GSP for Least Developed Countries

Economic Complexity

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Most Specialized Products by RCA Index

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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.

Most Complex Products by PCI

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The highest complexity exports of Switzerland according to the product complexity index (PCI) are Machining centre, single/multistation transfer machine (2.55), Machine-tools for shaping metals, nes (2.09), Cermets and articles thereof, waste or scrap (2.08), Esters of inorganic acids nes, salts, derivatives (1.96), and Machines nes having individual functions (1.95). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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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.

Relatedness Space

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This network shows the products most related to the production structure of Switzerland. These are products that tend to be co-exported with the products that Switzerland exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.

Economic Complexity Ranking

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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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