Overview In 2019 Switzerland was the number 20 economy in the world in terms of GDP (current US$), the number 17 in total exports, the number 17 in total imports, the number 4 economy in terms of GDP per capita (current US$) and the number 3 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Switzerland are Gold ($59B), Packaged Medicaments ($46.2B), Blood, antisera, vaccines, toxins and cultures ($32.9B), Base Metal Watches ($13.6B), and Jewellery ($10.9B), exporting mostly to Germany ($48.1B), United States ($42.5B), United Kingdom ($24.4B), China ($21.7B), and France ($19.2B).

In 2019, Switzerland was the world's biggest exporter of Gold ($59B), Blood, antisera, vaccines, toxins and cultures ($32.9B), Base Metal Watches ($13.6B), Precious Metal Watches ($7.32B), and Hydrazine or Hydroxylamine Derivatives ($501M)

Imports The top imports of Switzerland are Gold ($63.5B), Packaged Medicaments ($20.4B), Jewellery ($16.6B), Cars ($10.7B), and Blood, antisera, vaccines, toxins and cultures ($9.99B), importing mostly from Germany ($62.3B), Italy ($24.5B), United States ($18.4B), France ($18.3B), and United Kingdom ($15.4B).

In 2019, Switzerland was the world's biggest importer of Jewellery ($16.6B), Metal-Clad Products ($1.38B), Watch Straps ($661M), Watch Cases and Parts ($440M), and Other Clocks and Watches ($348M)

Location Switzerland borders Austria, France, Italy, and Germany by land.

Historical Data

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Yearly Exports

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Top Export (2019): Gold, $59B

Top Destination (2019): Germany, $48.1B

In 2019, Switzerland exported a total of $310B, making it the number 17 exporter in the world. During the last five reported years the exports of Switzerland have changed by -$5.89B from $316B in 2014 to $310B in 2019.

The most recent exports are led by Gold ($59B), Packaged Medicaments ($46.2B), Blood, antisera, vaccines, toxins and cultures ($32.9B), Base Metal Watches ($13.6B), and Jewellery ($10.9B). The most common destination for the exports of Switzerland are Germany ($48.1B), United States ($42.5B), United Kingdom ($24.4B), China ($21.7B), and France ($19.2B).

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Yearly Imports

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Top Import (2019): Gold, $63.5B

Top Origin (2019): Germany, $62.3B

In 2019 Switzerland imported $293B, making it the number 17 trade destination in the world. During the last five reported years the imports of Switzerland changed by $9.94B from $283B in 2014 to $293B in 2019.

The most recent imports of Switzerland are led by Gold ($63.5B), Packaged Medicaments ($20.4B), Jewellery ($16.6B), Cars ($10.7B), and Blood, antisera, vaccines, toxins and cultures ($9.99B). The most common import partners for Switzerland are Germany ($62.3B), Italy ($24.5B), United States ($18.4B), France ($18.3B), and United Kingdom ($15.4B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Switzerland Exports Services (2019): $105B

Switzerland Imports Services (2019): $85.9B

In 2019, Switzerland exported $105B worth of services. The top services exported by Switzerland in 2019 were Royalties and license fees ($26.8B), Financial services ($19.5B), Travel ($16.1B), Transportation ($13.6B), and Miscellaneous business, professional, and technical services ($12.1B).

The top services imported by Switzerland in 2019 were Miscellaneous business, professional, and technical services ($22.3B), Travel ($16.9B), Royalties and license fees ($15.5B), Computer and information services ($14.2B), and Transportation ($12.2B).

Economic Complexity

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Most Specialized Products by RCA Index

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Switzerland has a high level of specialization in Base Metal Watches (32.5), Precious Metal Watches (32.1), Hydrazine or Hydroxylamine Derivatives (21.6), Other Clocks and Watches (12.7), and Gold (10.1). Specialization is measured using RCA, an index that takes the ratio between Switzerland observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Switzerland according to the product complexity index (PCI) are Machining centre, single/multistation transfer machine (2.42), Machines nes having individual functions (2.05), Machine-tools for shaping metals, nes (2.03), Cermets and articles thereof, waste or scrap (1.93), and Measuring or checking instruments nes (1.93). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Switzerland according to the relatedness index, are Developed Exposed Photographic Material (0.23), Artificial Textile Machinery (0.23), Nickel Sheets (0.23), Halides (0.23), and Non-optical Microscopes (0.23). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Switzerland is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of Switzerland. These are products that tend to be co-exported with the products that Switzerland exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

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During the last 20 years Switzerland's⁩ ⁨economy has become relatively más complex, moving from the ⁩⁨4th to the 3rd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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