Swiss climate activists appear in court over Credit Suisse 'tennis' protest - Jan 08, 2020. Among key trade partners, exports were up to the Euro Area, the US, China, Japan, Singapore, Hong Kong and the Middle East. According to WTO data, in 2018, Switzerland's exports amounted to USD 310.7 billion while imports amounted to USD 279.5 billion. Switzerland was the EU's 4th largest partner for imports (6% of total extra-EU imports) and the 3rd largest for EU exports (8% of total extra-EU exports) in 2018. Switzerland was the United States' 19th largest goods export market in 2019. Leading categories include: roasted & instant coffee ($361 million), snack foods ($128 million), cheese ($89 million), essential oils ($26 million), and other dairy products ($8 million). Open Multi-Currency Account (MCA) Open Demo FX Account Open Live FX Account English It shows that 18 Member States had a trade surplus with Switzerland. 2020 : U.S. trade in goods with Switzerland . Leading domestic export categories include: tobacco ($204 million), tree nuts ($32 million), wine & beer ($15 million), beef & beef products ($10 million), and snack foods not elsewhere specified or indicated ($10 million). U.S. direct investment in Switzerland is led by nonbank holding companies, manufacturing, and finance and insurance. The main partners in the cross-border trade of goods are the industrialised countries; the EU is particularly important. Exports to the US market have doubled since 2011. This statistic shows the 20 countries with the highest trade surplus worldwide in 2019. The biggest trade surpluses were recorded with the US, India, the UK, China, Hong Kong, Japan and Singapore; and the largest deficits were recorded with the UAE, Germany, Ireland, Italy and Thailand. Switzerland's trade surplus increased to CHF 3.4 billion in August 2020 from a revised CHF 2.5 billion in the previous month, as exports increased above CHF 18.0 billion for the first time since March, led by sales of chemical & pharmaceutical products, machines & electronics, watches, metals, and jewelry. Exports increased 1.1 percent led by sales of machines & electronics, precision instruments, watches, metals, and food and beverages. Published on May 29, 2009. Switzerland ran a 27.65 billion franc surplus last year, up from 25.38 billion in 2018 and 21.08 billion in 2017. Applying last year’s surplus of CHF 2.9 billion to Switzerland’s CHF 197 billion debt mountain would only reduce it by 1.5% or CHF 341 per person. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. Trade with Swiss Bank. The Trading Economics Application Programming Interface (API) provides direct access to our data. Government Budget in Switzerland averaged -0.46 percent of GDP from 1990 until 2019, reaching an all time high of 1.90 percent of GDP in 2008 and a record low of -3.20 percent of GDP in 1993. Meanwhile, imports fell 1.8 percent to CHF 14.9 billion dragged by purchases of chemical & pharmaceutical products, machines & electronics, vehicles, textiles and footwear, and precision instruments. Sales of services in Switzerland by majority U.S.-owned affiliates were $81.2 billion in 2017 (latest data available), while sales of services in the United States by majority Switzerland-owned firms were $48.4 billion. Switzerland typically runs a deficit in bilateral services trade, although 2019 data have not yet been released. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019. Trade in services with Switzerland (exports and imports) totaled an estimated $71.9 billion in 2019. For the 24 hours to 23:00 GMT, the USD declined 0.67% against the CHF and closed at 0.9327. Details may not equal totals due to rounding. In 2019, Switzerland GDP was an estimated $715.4 billion (current market exchange rates); real GDP was up by an estimated 0.9%; and the population was 9 million. Switzerland has a trade surplus with the US, Canada, the UK and many emerging markets. Leading services exports from the U.S. to Switzerland were in the intellectual property (industrial processes), research and development services, and professional and management services sectors. Direct access to our calendar releases and historical data. U.S. exports to Switzerland account for 1% of overall U.S. exports in 2019. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019. The Swiss merchandise trade surplus is particularly strong with the United States, UK, Japan, Middle East, Latin America, Russia, Hong Kong and other Emerging Markets, especially for relatively price-insensitive pharmaceutical and luxury products that are sold. a trade surplus exists if there is a net outflow of capital excluding foreign borrowing and lending . Switzerland Trade Balance recorded a surplus of 3.3 USD bn in Oct 2020, compared with a surplus of 1.6 USD bn in the previous month. This statistic shows the trade balance of Switzerland from 2009 to 2019. This trade surplus was highest in 2013 at €75 billion and lowest in 2009 at €8 billion. Story continues below. Sep 22, 2020. Switzerland ran a 27.65 billion franc surplus last year, up from 25.38 billion in 2018 and 21.08 billion in 2017. Switzerland’s trade surplus is affected by imported gold from Asia, and reduced demand for luxury Swiss watches. Switzerland had a total export of 310,524,275.09 in thousands of US$ and total imports of 278,665,555.58 in thousands of US$ leading to a positive trade balance of 31,858,719.51 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Switzerland is 1.70% and the Most Favored Nation (MFN) Weighted Average tariff is 3.42%.The trade growth is 1.21% compared to … Swiss exports are mostly luxury products and pharmaceuticals. Trade Balance. a trade surplus … Switzerland's direct investment in the U.S. is led by manufacturing, finance and insurance, and information services. This trade surplus was highest in 2013 at €75 billion and lowest in 2009 at €8 billion. Trade in services with Switzerland (exports and imports) totaled an estimated $71.9 billion in 2019. Switzerland Trade Surplus Falls In February | Financial News Exports to the U.S. market have doubled since 2011. U.S. exports of services to Switzerland were an estimated $46.8 billion in 2019, 11.8% ($5.0 billion) more than 2018, and 139% greater than 2009 levels. Economists use the Trade Balance to evaluate the structure of trade flows between countries. a trade surplus exists if there is a net inflow of capital excluding foreign borrowing and lending . Swiss trade surplus rises. Switzerland's trade surplus remained broadly unchanged in February, and slightly exceeded economists' forecast, latest data showed Thursday. Considering the first ten months of the year, the trade surplus widened to CHF 28.4 billion from CHF 21.2 billion in the same period of 2019. U.S. foreign direct investment (FDI) in Switzerland (stock) was $229.0 billion in 2019, a 9.6% decrease from 2018. Tuesday, 24 April 2012 02:42 . Switzerland posts trade surplus of 36.6 billion Swiss francs ($36.1bn, 33bn euros) in 2015 despite declines in exports. Publish your articles and forecasts in our website. Airbus Exploring Hydrogen-Powered Aircraft for 2035. Switzerland's trade surplus declined to CHF 2.7 billion in September 2020 from a downwardly revised CHF 3.3 billion in the previous month, as exports fell while imports rose, amid the coronavirus pandemic. Exports declined 0.4 percent from a month earlier to CHF 17.8 billion, dragged down by sales of chemical & pharmaceutical products, precision instruments, and food and beverages. In 2017, Switzerland managed a surplus of CHF 2.8 billion. U.S. goods imports from Switzerland totaled $44.6 billion in 2019, up 8.6% ($3.6 billion) from 2018, and up 178.1% from 2009. For the 24 hours to 23:00 GMT, the USD rose 0.2% against the CHF and closed at 0.9886. Switzerland News. Considering the first seven months of the year, the trade surplus widened to CHF 19.9 billion from CHF 14.6 billion in the same period of 2019. A trade deficit is formed when more goods and services are imported than exported. The U.S. goods and services trade deficit with Switzerland was $5.0 billion in 2019. In economic news, Switzerland’s trade surplus widened to CHF2.9 billion in September, after recording a revised surplus of CHF2.2 billion in the prior month. Exports rely mostly on high-tech sectors, which are less dependent on the international economic situation than other industries. Trade surplus narrows in Switzerland. Overall, Switzerland posted a $36.9 billion trade surplus for 2019. The U.S. goods trade deficit with Switzerland was $18.9 billion in 2018, a 32.1% increase ($4.6 billion) over 2017. The top import categories (2-digit HS) in 2019 were: pharmaceuticals ($16 billion), special other (returns) ($7.0 billion), organic chemicals ($4.0 billion), optical and medical instruments ($3.9 billion), and clocks and watches ($3.2 billion). Switzerland has recorded a SFr7.1 billion ($5.75 billion) trade surplus for the January to September period, the biggest surplus in the past four years. September's trade surplus was the highest in Switzerland since at least 1987, according to the latest trade figures from the Federal Customs Office. At the end of 2017, total public debt 1 in Switzerland’s was 29.5% of GDP or CHF 23,257 per inhabitant. a trade surplus means that there is a net inflow of capital . Imports were up from the Euro Area, Japan, Singapore, but were down from China, the US, and the UK. Traditionally, its merchandise trade deficit has been generously compensated by a surplus trade in services. In economic news, Switzerland’s trade surplus narrowed to CHF2.33 billion in October, after recording a surplus of CHF2.92 billion in the prior month. The main partners in the cross-border trade of goods are the industrialised countries; the EU is particularly important. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. Switzerland has a large trade surplus. ZURICH — Switzerland widened its current account surplus to 86 billion Swiss francs ($87.15 billion) during 2019, the Swiss National Bank said on Monday, an increase of 29 billion francs from a year earlier. Glencore, with its basis near the tax paradise Zug, is the leader of the global … Tuesday, 24 April 2012 02:42. Share Share this Story: Switzerland to meet U.S. criteria for currency manipulator label, sources say. Switzerland belongs to those countries where the share of foreign trade in gross domestic product (GDP) is highest. (RTTNews) - Switzerland's foreign trade surplus increased in November, figures from the Federal Customs Administration showed Thursday. Switzerland belongs to those countries where the share of foreign trade in gross domestic product (GDP) is highest. The Swiss trade surplus increased to a 3-month high in January, data from the Federal Customs Administration showed Thursday. Switzerland’s exported goods totaled $208 billion during the first 8 months of 2020. Switzerland's FDI in the United States (stock) was$300.4 billion in 2019, up 1.6% from 2018. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019, a 41.4% increase ($7.8 billion) over 2018. 1950-2020 Data | 2021-2022 Forecast | Calendar. The largest surplus was held by Italy (EUR 15 086 million), followed by Germany (EUR 13 618 million) and Ireland (EUR 3 477 million). If the demand for the Swiss franc rises, it will appreciate relative to the euro, unless the central banks intervene to stabilize the exchange rate, and will create a balance-of-payments deficit for Germany. The trade in goods balance between the EU Member States and Switzerland is shown in Table 1c. Switzerland is currently our 16th largest goods trading partner with $62.5 billion in total (two way) goods trade during 2019. Meanwhile, imports dropped 3.3 percent to CHF 14.9 billion led by chemical & pharmaceutical products, vehicles, food and beverages, and precision instruments. That dollar amount represents a 15.8% increase from $31.9 billion in black ink for 2018. Switzerland - International trade International trade has long been the key to prosperity in Switzerland. Swiss merchandise exports to the EU are concentrated on a few sectors, particularly chemicals/pharma and medical products, machinery, instruments and watches. With the rise in the textile industry, there was an increased need in inexpensive labor and raw materials, which Switzerland was lacking and thus began importing from other countries. Imports were up from the Euro Area, the UK, Hong Kong and the US, but were down from China, Japan. Details may not equal totals due to rounding. Among key trade partners, exports were up to the UK, the US, Japan, Hong Kong and the Middle East. The Treasury cited Switzerland’s large bilateral goods trade surplus with the United States as well as its overall current account surplus. Switzerland recorded a Government Budget surplus equal to 1.50 percent of the country's Gross Domestic Product in 2019. Switzerland was the EU's 4th largest partner for imports (6% of total extra-EU imports) and the 3rd largest for EU exports (8% of total extra-EU exports) in 2018. U.S. imports from Switzerland account for 1.8% of overall U.S. imports in 2019. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Purchases increased 1.9 percent from a month earlier to CHF 15.2 billion led by chemical & pharmaceutical products, vehicles, metals, textiles and footwear, and precision instruments. 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