Spain (ESP) and Switzerland (CHE) Trade

2022

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Exports $8.37BRnk 12 / 218

2022

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About

Spain-Switzerland Trade: In 2022, Spain exported $8.37B to Switzerland. The main products that Spain exported to Switzerland were Packaged Medicaments ($4.63B), Cars ($648M), and Jewellery ($233M). Over the past 5 years the exports of Spain to Switzerland have increased at an annualized rate of 10.8%, from $5B in 2017 to $8.37B in 2022.

In 2020, Spain exported services to Switzerland worth $387M, with Travel ($387M) being the largest in terms of value.

Switzerland-Spain Trade: In 2022, Switzerland exported $9.99B to Spain. The main products that Switzerland exported to Spain were Vaccines, blood, antisera, toxins and cultures ($2.62B), Nitrogen Heterocyclic Compounds ($1.84B), and Sulfonamides ($986M). Over the past 5 years the exports of Switzerland to Spain have increased at an annualized rate of 13.2%, from $5.38B in 2017 to $9.99B in 2022.

In 2019, Switzerland exported services to Spain worth $1.79B, with Royalties and license fees ($763M), Computer and information services ($310M), and Financial services ($310M) being the largest in terms of value.

Comparison: In 2022, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Switzerland ranked 2 in the Economic Complexity Index (ECI 1.97), and 17 in total exports ($402B).

Latest Trends

August, 2024

About

Overview In August 2024, Spain exported €254M and imported €309M from Switzerland, resulting in a negative trade balance of €55.6M. Between August 2023 and August 2024 the exports of Spain have decreased by €-67.9M (-21.1%) from €321M to €254M, while imports increased by €27.8M (9.88%) from €281M to €309M.

Trade In August 2024, the top exports of Spain to Switzerland were Packaged Medicaments (€249M), Cars (€65M), Citrus (€10.6M), Wine (€10.6M), and Gold (€8.92M). In August 2024 the top imports of Spain from Switzerland were Vaccines, blood, antisera, toxins and cultures (€91.3M), Packaged Medicaments (€55.8M), Nitrogen Heterocyclic Compounds (€29.3M), Unpackaged Medicaments (€27.9M), and Base Metal Watches (€22.3M).

Origins In August 2024 the exports of Spain were mainly from Barcelona (€117M), Madrid (€24.7M), Zaragoza (€8.92M), Valencia (€8.77M), and Murcia (€7.48M), while imports destinations were mainly Madrid (€157M), Barcelona (€98.2M), Valencia (€5.59M), Toledo (€4.84M), and Álava (€4.33M).

Growth In August 2024, the decrease in Spain's year-by-year exports to Switzerland was explained primarily by an decrease in product exports in Packaged Medicaments (€-22.6M or -8.32%), Frozen Vegetables (€-2.85M or -88.5%), and Aluminium Plating (€-1.76M or -42%). In August 2024, the increase in Spain's year-by-year imports from Switzerland was explained primarily by an increase in product imports in Packaged Medicaments (€25.2M or 82.5%), Base Metal Watches (€6.68M or 42.8%), and Carboxyamide Compounds (€3.69M or 40.6%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (August 2023 - August 2024)€-67.9M(-21.1%)

IMPORT GROWTH (August 2023 - August 2024)€27.8M(9.88%)

MAIN EXPORTER (August 2024)Barcelona€117M

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

To check Switzerland and Spain 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, Spain exported $8.37B to Switzerland. The main products exported from Spain to Switzerland were Packaged Medicaments ($4.63B), Cars ($648M), and Jewellery ($233M). During the last 5 years the exports of Spain to Switzerland have increased at an annualized rate of 10.8%, from $5B in 2017 to $8.37B in 2022.

In 2017, Switzerland exported $9.99B to Spain. The main products exported from Switzerland to Spain were Vaccines, blood, antisera, toxins and cultures ($2.62B), Nitrogen Heterocyclic Compounds ($1.84B), and Sulfonamides ($986M). During the last 5 years the exports of Switzerland to Spain have increased at an annualized rate of 13.2%, from $5.38B in 2022 to $9.99B in 2017.

Exports from Spain () to Switzerland () (2022)

Exports from Switzerland () to Spain () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Spain
Top DestinationFrance$65.2B

Switzerland
Top DestinationUnited States$61.7B

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

In 2022, countries that imported more from Spain than Switzerland included France ($65.2B), Portugal ($34.9B), and Morocco ($12.1B).

In 2022, countries that imported more from Switzerland than Spain included United States ($61.7B), China ($44.1B), and Germany ($53.5B).

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

Comparative Advantage Spain - Switzerland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Spain had a large net trade with Switzerland in the exports of Chemical Products ($5.11B), Transportation ($900M), and Vegetable Products ($506M).

During 2017, Switzerland had a large net trade with Spain in the exports of Chemical Products ($7.43B), Instruments ($769M), and Machines ($567M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Spain Switzerland+$208MCars

Top Product Potential Switzerland Spain+$360MPackaged 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

Che Year

Esp Year

In 2020, Spain exported services to Switzerland worth $387M, with Travel ($387M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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