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Trade between Switzerland and the United States

In 2024, Switzerland exported $51.2 billion to the United States and imported $29.9 billion. Switzerland ran a surplus of $21.3 billion with the United States, compared with a surplus of $20.2 billion in 2019. The United States was Switzerland’s 2nd largest trading partner (10% of its trade), and Switzerland was the United States’ 17th (2%).

Summary

Switzerland → United States
$51.2billion
United States → Switzerland
$29.9billion
Switzerland’s balance
$21.3billion

Balance

Switzerland’s trade balance with the United States

Trade between Switzerland and the United States grew 5.8-fold since 1995

USD billions (current). Switzerland’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 51.2
  • Imports 29.9
  • Balance +21.3

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$7.4 billion$6.7 billion$655 million
1996$7.6 billion$8 billion-$373 million
1997$8 billion$9 billion-$1.1 billion
1998$8.3 billion$7.1 billion$1.2 billion
1999$9.5 billion$8 billion$1.4 billion
2000$10.4 billion$9.7 billion$755 million
2001$9.2 billion$8.7 billion$543 million
2002$9.9 billion$7.7 billion$2.2 billion
2003$10.9 billion$8.6 billion$2.3 billion
2004$11.4 billion$8.6 billion$2.7 billion
2005$12.6 billion$9.9 billion$2.7 billion
2006$14 billion$12.6 billion$1.5 billion
2007$14.7 billion$13.8 billion$969 million
2008$17.6 billion$17.3 billion$338 million
2009$15.3 billion$12.1 billion$3.2 billion
2010$18.7 billion$12.1 billion$6.6 billion
2011$23.2 billion$20.4 billion$2.8 billion
2012$23.7 billion$25.2 billion-$1.4 billion
2013$25.1 billion$24.7 billion$407 million
2014$28.1 billion$21.7 billion$6.4 billion
2015$29.2 billion$20.1 billion$9.1 billion
2016$33.5 billion$24 billion$9.6 billion
2017$33.2 billion$21.2 billion$11.9 billion
2018$36.5 billion$21.1 billion$15.4 billion
2019$38.8 billion$18.6 billion$20.2 billion
2020$53.7 billion$20.7 billion$33 billion
2021$50.7 billion$24 billion$26.6 billion
2022$48.4 billion$39 billion$9.4 billion
2023$46.8 billion$32.6 billion$14.2 billion
2024$51.2 billion$29.9 billion$21.3 billion

What they sell each other

What Switzerland sells to the United States

The top 10 headings in 2024, with their share of the total.

  1. Medicines in measured doses or retail packs$12.7 billion · 24.8%
    9 thousand tonnes · Switzerland’s destinations
  2. Vaccines, blood and antisera$6.8 billion · 13.3%
    1 thousand tonnes · Switzerland’s destinations
  3. Gold$4.7 billion · 9.1%
    120 tonnes · Switzerland’s destinations
  4. Other wristwatches$3.9 billion · 7.7%
    335 tonnes
  5. Nitrogen heterocyclic compounds$2.2 billion · 4.3%
    3 thousand tonnes
  6. Precious metal watches$2 billion · 3.9%
    124 tonnes
  7. Orthopedic and hearing devices$1.9 billion · 3.8%
    641 tonnes
  8. Coffee$1.2 billion · 2.3%
    21 thousand tonnes · Switzerland’s destinations
  9. Medical and dental instruments$1 billion · 2%
    9 thousand tonnes · Switzerland’s destinations
  10. Jewelry$871 million · 1.7%
    8 tonnes · Switzerland’s destinations

What the United States sells to Switzerland

The top 10 headings in 2024, with their share of the total.

  1. Gold$12.4 billion · 41.5%
    184 tonnes · the United States’ destinations
  2. Vaccines, blood and antisera$4.4 billion · 14.6%
    6 thousand tonnes · the United States’ destinations
  3. Medicines in measured doses or retail packs$1 billion · 3.4%
    856 tonnes · the United States’ destinations
  4. Medical and dental instruments$856 million · 2.9%
    2 thousand tonnes · the United States’ destinations
  5. Crude petroleum$851 million · 2.8%
    1.4 million tonnes · the United States’ destinations
  6. Jewelry$751 million · 2.5%
    2 tonnes · the United States’ destinations
  7. Orthopedic and hearing devices$710 million · 2.4%
    404 tonnes
  8. Cars$666 million · 2.2%
    21 thousand tonnes · the United States’ destinations
  9. Paintings and drawings$576 million · 1.9%
    49 tonnes
  10. Platinum$560 million · 1.9%
    27 tonnes · the United States’ destinations

How it travels

Switzerland and the United States traded $81.2 billion in 2024 (both directions together). They trade mostly by air: 92% of the value travels by plane.

Split by transport mode

  1. Sea$6.6 billion · 8.1%
  2. Air$74.6 billion · 91.9%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

The United States was Switzerland’s 2nd largest trading partner (10% of its trade), and Switzerland was the United States’ 17th (2%).

The United States in Switzerland’s trade
10.4%
The United States’ rank among Switzerland’s partners
2nd
Switzerland in the United States’ trade
1.6%
Switzerland’s rank among the United States’ partners
17th

Compare with

Other partners of Switzerland

Other partners of the United States

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.