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Switzerland

U.S.-Switzerland Trade Facts

U.S. goods and services trade with Switzerland totaled an estimated $124.1 billion in 2018. Exports were $61.5 billion; imports were $62.6 billion. The U.S. goods and services trade deficit with Switzerland was $1.2 billion in 2018.

Switzerland is currently our 15th largest goods trading partner with $63.3 billion in total (two way) goods trade during 2018. Goods exports totaled $22.2 billion; goods imports totaled $41.1 billion. The U.S. goods trade deficit with Switzerland was $18.9 billion in 2018.

Trade in services with Switzerland (exports and imports) totaled an estimated $60.8 billion in 2018. Services exports were $39.3 billion; services imports were $21.5 billion. The U.S. services trade surplus with Switzerland was $17.8 billion in 2018.

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).

Exports

  • Switzerland was the United States' 18th largest goods export market in 2018.
     
  • U.S. goods exports to Switzerland in 2018 were $22.2 billion, up 2.2% ($477 million) from 2017 and up 0.7% from 2008. U.S. exports to Switzerland account for 1.3% of overall U.S. exports in 2018.
     
  • The top export categories (2-digit HS) in 2018 were: precious metal and stone (gold) ($11 billion), art and antiques ($2.5 billion), pharmaceuticals ($2.0 billion), optical and medical instruments ($1.4 billion), and aircraft ($1.2 billion).
     
  • U.S. total exports of agricultural products to Switzerland totaled $395 million in 2018. Leading domestic export categories include: tobacco ($234 million), tree nuts ($26 million), beef & beef products ($13 million), wine & beer ($10 million), and other snack foods ($8 million).
     
  • U.S. exports of services to Switzerland were an estimated $39.3 billion in 2018, 5.5% ($2.0 billion) more than 2017, and 95.2% greater than 2008 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.

Imports

  • Switzerland was the United States' 14th largest supplier of goods imports in 2018.
     
  • U.S. goods imports from Switzerland totaled $41.1 billion in 2018, up 14.2% ($5.1 billion) from 2017, and up 131.1% from 2008.  U.S. imports from Switzerland account for 1.6% of overall U.S. imports in 2018.
     
  • The top import categories (2-digit HS) in 2018 were: pharmaceuticals ($14 billion), special other (returns) ($5.6 billion), organic chemicals ($4.5 billion), optical and medical instruments ($3.9 billion), and machinery ($3.0 billion).
     
  • U.S. total imports of agricultural products from Switzerland totaled $1.3 billion in 2018. Leading categories include: roasted & instant coffee ($236 million), snack foods ($133 million), cheese ($92 million), essential oils ($24 million), and other dairy products ($12 million).
     
  • U.S. imports of services from Switzerland were an estimated $21.5 billion in 2018, 22.8% ($6.4 billion) less than 2017, but 11.7% greater than 2008 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.

Trade Balance

  • The U.S. goods trade deficit with Switzerland was $18.9 billion in 2018, a 32.5% increase ($4.6 billion) over 2017.
     
  • The United States has a services trade surplus of an estimated $18 billion with Switzerland in 2018, up 89.6% from 2017.

Investment

  • U.S. foreign direct investment (FDI) in Switzerland (stock) was $278.0 billion in 2018, a 11.2% increase from 2017. 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 $309.7 billion in 2018, up 0.1% from 2017. Switzerland's direct investment in the U.S. is led by manufacturing, finance and insurance, and wholesale trade.

  • 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.