Canada (CAN) and Switzerland (CHE) Trade

2022

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Exports $2.94BRnk 15 / 215

2022

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About

Canada-Switzerland Trade: In 2022, Canada exported $2.94B to Switzerland. The main products that Canada exported to Switzerland were Gold ($2.19B), Packaged Medicaments ($123M), and Platinum ($122M). Over the past 5 years the exports of Canada to Switzerland have increased at an annualized rate of 9.5%, from $1.86B in 2017 to $2.94B in 2022.

In 2020, Canada exported services to Switzerland worth $433M, with Royalties and license fees ($169M), Financial services ($70.8M), and Computer and information services ($69.3M) being the largest in terms of value.

Switzerland-Canada Trade: In 2022, Switzerland exported $5.56B to Canada. The main products that Switzerland exported to Canada were Vaccines, blood, antisera, toxins and cultures ($1.47B), Nucleic Acids ($1.15B), and Packaged Medicaments ($757M). Over the past 5 years the exports of Switzerland to Canada have increased at an annualized rate of 8.73%, from $3.66B in 2017 to $5.56B in 2022.

In 2019, Switzerland exported services to Canada worth $984M, with Royalties and license fees ($347M), Computer and information services ($212M), and Transportation ($172M) being the largest in terms of value.

Comparison: In 2022, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Switzerland ranked 2 in the Economic Complexity Index (ECI 1.97), and 17 in total exports ($402B).

Latest Trends

June, 2024

About

Overview In June 2024, Canada exported C$445M and imported C$571M from Switzerland, resulting in a negative trade balance of C$126M. Between June 2023 and June 2024 the exports of Canada have increased by C$57.6M (14.9%) from C$387M to C$445M, while imports decreased by C$-344M (-37.6%) from C$915M to C$571M.

Trade In June 2024, the top exports of Canada to Switzerland were Gold (C$506M), Gas Turbines (C$8.78M), Packaged Medicaments (C$6.39M), Platinum (C$4.51M), and Beauty Products (C$3.14M). In June 2024 the top imports of Canada from Switzerland were Vaccines, blood, antisera, toxins and cultures (C$124M), Packaged Medicaments (C$93.3M), Sulfonamides (C$84.9M), Nickel Ore (C$38M), and Base Metal Watches (C$29.2M).

Origins In June 2024 the exports of Canada were mainly from Nunavut (C$166M), Ontario (C$160M), Quebec (C$88.3M), Manitoba (C$11.7M), and British Columbia (C$9.41M), while imports destinations were mainly Ontario (C$444M), Quebec (C$85.3M), British Columbia (C$25.6M), Alberta (C$9.1M), and Nova Scotia (C$2.52M).

Growth In June 2024, the increase in Canada's year-by-year exports to Switzerland was explained primarily by an increase in product exports in Gold (C$383M or 311%), Gas Turbines (C$3.16M or 56.2%), and Beauty Products (C$1.57M or 100%). In June 2024, the decrease in Canada's year-by-year imports from Switzerland was explained primarily by an decrease in product imports in Laboratory Reagents (C$-53.5M or -99.2%), Nucleic Acids (C$-8M or -97.8%), and Locomotive Parts (C$-2.77M or -99.3%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (June 2023 - June 2024)C$57.6M(14.9%)

IMPORT GROWTH (June 2023 - June 2024)C$-344M(-37.6%)

MAIN EXPORTER (June 2024)NunavutC$166M

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

To check Switzerland and Canada 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, Canada exported $2.94B to Switzerland. The main products exported from Canada to Switzerland were Gold ($2.19B), Packaged Medicaments ($123M), and Platinum ($122M). During the last 5 years the exports of Canada to Switzerland have increased at an annualized rate of 9.5%, from $1.86B in 2017 to $2.94B in 2022.

In 2017, Switzerland exported $5.56B to Canada. The main products exported from Switzerland to Canada were Vaccines, blood, antisera, toxins and cultures ($1.47B), Nucleic Acids ($1.15B), and Packaged Medicaments ($757M). During the last 5 years the exports of Switzerland to Canada have increased at an annualized rate of 8.73%, from $3.66B in 2022 to $5.56B in 2017.

Exports from Canada () to Switzerland () (2022)

Exports from Switzerland () to Canada () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Canada
Top DestinationUnited States$438B

Switzerland
Top DestinationUnited States$61.7B

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

In 2022, countries that imported more from Canada than Switzerland included United States ($438B), Mexico ($7.39B), and Japan ($14.3B).

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

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

Comparative Advantage Canada - Switzerland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Canada had a large net trade with Switzerland in the exports of Precious Metals ($2.32B), Chemical Products ($184M), and Machines ($152M).

During 2017, Switzerland had a large net trade with Canada in the exports of Chemical Products ($3.55B), Instruments ($512M), and Machines ($348M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Canada Switzerland+$93.9MPackaged Medicaments

Top Product Potential Switzerland Canada+$198MGold

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

Can Year

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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