Ireland (IRL) and Switzerland (CHE) Trade

Ireland-Switzerland Trade: In 2022, Ireland exported $4.12B to Switzerland. The main products that Ireland exported to Switzerland were Vaccines, blood, antisera, toxins and cultures ($2.5B), Packaged Medicaments ($318M), and Nitrogen Heterocyclic Compounds ($230M). Over the past 5 years the exports of Ireland to Switzerland have decreased at an annualized rate of 11.6%, from $7.63B in 2017 to $4.12B in 2022.

In 2020, Ireland exported services to Switzerland worth $2.52B, with Other business services ($1.77B), Financial services ($346M), and Insurance services ($183M) being the largest in terms of value.

Switzerland-Ireland Trade: In 2022, Switzerland exported $2.08B to Ireland. The main products that Switzerland exported to Ireland were Nitrogen Heterocyclic Compounds ($388M), Planes, Helicopters, and/or Spacecraft ($295M), and Orthopedic Appliances ($223M). Over the past 5 years the exports of Switzerland to Ireland have increased at an annualized rate of 17.8%, from $916M in 2017 to $2.08B in 2022.

In 2019, Switzerland exported services to Ireland worth $5.17B, with Royalties and license fees ($4.36B), Financial services ($453M), and Computer and information services ($220M) being the largest in terms of value.

Comparison: In 2022, Ireland ranked 18 in the Economic Complexity Index (ECI 1.27), and 31 in total exports ($236B). 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, Ireland exported €350M and imported €129M from Switzerland, resulting in a positive trade balance of €221M. Between August 2023 and August 2024 the exports of Ireland have increased by €97.6M (38.6%) from €253M to €350M, while imports decreased by €-325M (-71.5%) from €454M to €129M.

Trade In August 2024, the top exports of Ireland to Switzerland were Medicinal and pharmaceutical products (€217M), Organic chemicals (€208M), Miscellaneous manufactured articles, n.e.s. (€5.29M), Chemical materials and products, n.e.s. (€5.21M), and Professional, scientific and controlling apparatus (€5.13M). In August 2024 the top imports of Ireland from Switzerland were Organic chemicals (€455M), Medicinal and pharmaceutical products (€39.4M), Miscellaneous manufactured articles, n.e.s. (€20.3M), Photographic apparatus, optical goods, watches and... (€14M), and Professional, scientific and controlling apparatus (€10.9M).

Growth In August 2024, the increase in Ireland's year-by-year exports to Switzerland was explained primarily by an increase in product exports in Organic chemicals (€204M or 5.05k%), Photographic apparatus, optical goods, watches and... (€2.77M or 465%), and Power generating machinery and equipment (€1.64M or 292%). In August 2024, the decrease in Ireland's year-by-year imports from Switzerland was explained primarily by an decrease in product imports in Electrical machinery, appliances etc., n.e.s. (€-3.3M or -70%), Commodities and transactions n.e.s. (€-2.02M or -73.8%), and Machinery specialised for particular industries (€-1.29M or -45.3%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (August 2023 - August 2024)€97.6M(38.6%)

IMPORT GROWTH (August 2023 - August 2024)€-325M(-71.5%)

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

To check Switzerland and Ireland 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, Ireland exported $4.12B to Switzerland. The main products exported from Ireland to Switzerland were Vaccines, blood, antisera, toxins and cultures ($2.5B), Packaged Medicaments ($318M), and Nitrogen Heterocyclic Compounds ($230M). During the last 5 years the exports of Ireland to Switzerland have decreased at an annualized rate of 11.6%, from $7.63B in 2017 to $4.12B in 2022.

In 2017, Switzerland exported $2.08B to Ireland. The main products exported from Switzerland to Ireland were Nitrogen Heterocyclic Compounds ($388M), Planes, Helicopters, and/or Spacecraft ($295M), and Orthopedic Appliances ($223M). During the last 5 years the exports of Switzerland to Ireland have increased at an annualized rate of 17.8%, from $916M in 2022 to $2.08B in 2017.

Exports from Ireland () to Switzerland () (2022)

Exports from Switzerland () to Ireland () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Ireland
Top DestinationUnited States$70.7B

Switzerland
Top DestinationUnited States$61.7B

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

In 2022, countries that imported more from Ireland than Switzerland included Belgium ($17B), United States ($70.7B), and Netherlands ($12.6B).

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

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

Comparative Advantage Ireland - Switzerland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Ireland had a large net trade with Switzerland in the exports of Chemical Products ($3.35B), Instruments ($300M), and Machines ($262M).

During 2017, Switzerland had a large net trade with Ireland in the exports of Chemical Products ($876M), Instruments ($513M), and Transportation ($308M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Ireland Switzerland+$245MPackaged Medicaments

Top Product Potential Switzerland Ireland+$112MVaccines, blood, antisera, toxins and cultures

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

Irl Year

In 2020, Ireland exported services to Switzerland worth $2.52B, with Other business services ($1.77B), Financial services ($346M), and Insurance services ($183M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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