U.S.-Switzerland Trade Facts
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. (Source: IMF)
U.S. goods and services trade with Switzerland totaled an estimated $134.4 billion in 2019. Exports were $64.7 billion; imports were $69.7 billion. The U.S. goods and services trade deficit with Switzerland was $5.0 billion in 2019.
Switzerland is currently our 16th largest goods trading partner with $62.5 billion in total (two way) goods trade during 2019. Goods exports totaled $17.9 billion; goods imports totaled $44.6 billion. 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. Services exports were $46.8 billion; services imports were $25.0 billion. The U.S. services trade surplus with Switzerland was $21.8 billion in 2019.
According to the Department of Commerce, U.S. exports of goods and services to Switzerland supported an estimated 271 thousand jobs in 2015 (latest data available) (73 thousand supported by goods exports and 199 thousand supported by services exports).
- Switzerland was the United States' 19th largest goods export market in 2019.
- U.S. goods exports to Switzerland in 2019 were $17.9 billion, down 19.3% ($4.3 billion) from 2018 but up 2.2% from 2009. U.S. exports to Switzerland account for 1% of overall U.S. exports in 2019.
- The top export categories (2-digit HS) in 2019 were: precious metal and stone (gold) ($7.3 billion), pharmaceuticals ($2.0 billion), art and antiques ($1.8 billion), optical and medical instruments ($1.4 billion), and aircraft ($1.3 billion).
- U.S. total exports of agricultural products to Switzerland totaled $393 million in 2019. 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. 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. 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.
- Switzerland was the United States' 14th largest supplier of goods imports in 2019.
- 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. U.S. imports from Switzerland account for 1.8% of overall U.S. imports in 2019.
- 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).
- U.S. total imports of agricultural products from Switzerland totaled $1.4 billion in 2019, our 23th largest supplier of agricultural imports. 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).
- U.S. imports of services from Switzerland were an estimated $25.0 billion in 2019, 8.4% ($1.9 billion) more than 2018, and 29.7% greater than 2009 levels. Leading services imports from Switzerland to the U.S. were in the intellectual property (industrial processes), professional and management services, and insurance services sectors.
- The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019, a 41.4% increase ($7.8 billion) over 2018.
- The United States has a services trade surplus of an estimated $22 billion with Switzerland in 2019, up 16.1% from 2018.
U.S. foreign direct investment (FDI) in Switzerland (stock) was $229.0 billion in 2019, a 9.6% decrease from 2018. U.S. direct investment in Switzerland is led by nonbank holding companies, manufacturing, and finance and insurance.
Switzerland's FDI in the United States (stock) was$300.4 billion in 2019, up 1.6% from 2018. Switzerland's direct investment in the U.S. is led by manufacturing, finance and insurance, and information services.
- 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.