Switzerland (CHE) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Switzerland-Italy Trade: In 2023, Switzerland exported $19.4B to Italy. The main products that Switzerland exported to Italy were Electricity ($3.06B), Gold ($2.67B), and Packaged Medicaments ($2.67B). Over the past 5 years the exports of Switzerland to Italy have increased at an annualized rate of 8.38%, from $13B in 2018 to $19.4B in 2023.

In 2019, Switzerland exported services to Italy worth $5.53B, with Travel ($2.13B), Transportation ($1.06B), and Royalties and license fees ($851M) being the largest in terms of value.

Italy-Switzerland Trade: In 2023, Italy exported $29.3B to Switzerland. The main products that Italy exported to Switzerland were Packaged Medicaments ($6.74B), Gold ($1.83B), and Jewellery ($1.64B). Over the past 5 years the exports of Italy to Switzerland have increased at an annualized rate of 5.78%, from $22.1B in 2018 to $29.3B in 2023.

In 2020, Italy exported services to Switzerland worth $7.06B, with Other business services ($4.38B), Travel ($1.46B), and Transportation ($396M) being the largest in terms of value.

Comparison: In 2023, Switzerland ranked 3 in the Economic Complexity Index (ECI 1.96), and 17 in total exports ($398B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Switzerland exported $19.4B to Italy. The main products exported from Switzerland to Italy were Electricity ($3.06B), Gold ($2.67B), and Packaged Medicaments ($2.67B). During the last 5 years the exports of Switzerland to Italy have increased at an annualized rate of 8.38%, from $13B in 2018 to $19.4B in 2023.

In 2018, Italy exported $29.3B to Switzerland. The main products exported from Italy to Switzerland were Packaged Medicaments ($6.74B), Gold ($1.83B), and Jewellery ($1.64B). During the last 5 years the exports of Italy to Switzerland have increased at an annualized rate of 5.78%, from $22.1B in 2023 to $29.3B in 2018.

Exports from Switzerland () to Italy () (2023)

Exports from Italy () to Switzerland () (2023)

Latest Data

Trade between Switzerland () and Italy ()

Switzerland Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Switzerland
Top DestinationGermany$53.8B

Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Switzerland than Italy included China ($47.7B), Hong Kong ($17.1B), and India ($17.9B).

In 2023, countries that imported more from Italy than Switzerland included France ($61.1B), United States ($70.9B), and Spain ($30.1B).

Difference in imports from Italy () and Switzerland () (2023)

Comparative Advantage Switzerland - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Switzerland had a large net trade with Italy in the exports of Chemical Products ($6.67B), Precious Metals ($3.96B), and Mineral Products ($3.13B).

During 2018, Italy had a large net trade with Switzerland in the exports of Chemical Products ($8.42B), Precious Metals ($4.21B), and Machines ($3.13B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Switzerland Italy+$1.04BPackaged Medicaments

Top Product Potential Italy Switzerland+$747MPackaged 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

Ita Year

Che Year

In 2019, Switzerland exported services to Italy worth $5.53B, with Travel ($2.13B), Transportation ($1.06B), and Royalties and license fees ($851M) being the largest in terms of value.

In 2020, Italy exported services to Switzerland worth $7.06B, with Other business services ($4.38B), Travel ($1.46B), and Transportation ($396M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Switzerland () to Italy () (2023)

Exports from Italy () to Switzerland () (2023)

Latest Data

Trade between Switzerland () and Italy ()

Switzerland Exports

Italy Exports

Market Competitiveness

Difference in imports from Italy () and Switzerland () (2023)

Comparative Advantage Switzerland - Italy

Potential Exports

Potential Exports

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Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Switzerland () and Italy () (2023)

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