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Foreign Trade in Figures

The Swiss economy is extremely open to foreign trade, which represents 138% of the country’s GDP (World Bank – latest data available). According to official figures from the Federal Statistical Institute, in 2023, exports were led by chemical and pharmaceutical products (49.4%), machines and electronics (12%), watches (9.8%), precision instruments (6.5%), and metals (5.3%). As per imports, chemical and pharmaceutical products were the main category (30.7%), followed by machines, appliances, electronics (15.6%), vehicles (9.5%), metals (7.1%), and energy sources (5.8%).

At the country level, the United States absorbed 17.8% of Swiss exports, ahead of Germany (15.5%), Italy (7.7%), France (5.7%), China (5.6%), and Slovenia (5.2%). On the other hand, Germany (24.9%), Italy (10.2%), France (8%), China (7.9%), the U.S. (6.4%), and Slovenia (5.4%) were Switzerland's principal procurement markets in 2023. Overall, Europe accounted for 55% of total exports and 72% of imports (Federal Statistical Office data).

Switzerland has a structurally large trade surplus. Exports rely mostly on high-tech sectors, which are less dependent on the international economic situation than other industries. According to WTO data, in 2023, Switzerland's exports of goods amounted to USD 420.1 billion while imports stood at USD 364.1 billion (+4.8% and +1.9% compared to one year earlier, respectively). As with regard to services, Switzerland exported USD 170 billion (+12% y-o-y), while it imported USD 191.5 billion (+19.2%). The country’s trade surplus was estimated at 12.4% of GDP in 2023 by the World Bank (from 13.7% one year earlier). According to preliminary figures from the Federal Customs Administration, in 2024, exports rose by 3.2% to CHF 282.9 billion, while imports dropped 1.6% to CHF 222.3 billion, leading to a record trade balance surplus of CHF 60.6 billion.