Switzerland

Switzerland, along with Norway, Iceland, and Liechtenstein, is a member of the European Free Trade Association (EFTA). Switzerland is currently the United States' 21^st largest trading partner in goods, reflecting the countries' long history of cooperation both bilaterally and within the WTO. In May 2006, the United States and Switzerland signed a "Trade and Investment Cooperation Forum" Agreement in order to broaden U.S.-Swiss economic relations.

U.S.-Switzerland Trade Facts

U.S. goods and services trade with Switzerland totaled $62 billion in 2007 (latest data available). Exports totaled $33 billion; Imports totaled $30 billion. The U.S. goods and services trade surplus with Switzerland was $3.1 billion in 2007.

Switzerland is currently our 20th largest goods trading partner with $39.8 billion in total (two ways) goods trade during 2008. Goods exports totaled $22.0 billion; Goods imports totaled $17.8 billion. The U.S. goods trade surplus with Switzerland was $4.2 billion in 2008.

Trade in services with Switzerland (exports and imports) totaled $30.6 billion in 2007 (latest data available). Services exports were $15.7 billion; Services imports were $14.9 billion. The U.S. services trade surplus with Switzerland was $773 million in 2007 (latest data available).

Exports

Switzerland was the United States' 15th largest goods export market in 2008.

U.S. goods exports to Switzerland in 2008 were $22.0 billion, up 29.3% ($5.0 billion) from 2007, and up 292% from 1994 (the year prior to Uruguay Round). U.S. exports to Switzerland accounted for l.7% of overall U.S. exports in 2008, up slightly from 1.1% in 1994.

The top export categories (2-digit HS) in 2008 were: Precious Stones (gold) ($11.8 billion), Pharmaceutical Products ($2.4 billion), Art and Antiques ($1.5 billion), Optic and Medical Instruments ($1.2 billion), and Aircraft ($1.1 billion).

U.S. exports of agricultural products to Switzerland totaled $369 million in 2008. Leading categories include: tobacco ($222 million), animal fats ($17 million), wine and beer ($16 million), and vegetable oil (excluding soybean oil)($16 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Switzerland were $15.7 billion in 2007 (latest data available), 21.6% ($2.8 billion) greater than 2006 and 324% ($12.0 billion) greater than 1994 levels. The royalties and license fees, and other private services (business, professional, and technical services) categories accounted for most of U.S. exports in 2007.

Imports

Switzerland was the United States' 25th largest supplier of goods imports in 2008.

U.S. goods imports from Switzerland totaled $17.8 billion in 2008, a 20.5% increase ($3.0 billion) from 2007, and up 179% over the last 14 years. U.S. imports from Switzerland accounted for 0.8% of overall U.S. imports in 2008, down from 1.0% in 1994.

The five largest import categories in 2008 were: Pharmaceutical Products ($3.0 billion), Clocks and Watches ($2.5 billion), Machinery ($2.2 billion), Optic and Medical Instruments ($2.1 billion), and Organic Chemicals ($1.7 billion).

U.S. imports of agricultural products from Switzerland totaled $705 million in 2008. Leading categories include: other consumer products ($451 million), snack foods, including chocolate ($87 million), cheese ($57 million), and essential oils ($21 million).

U.S. imports of private commercial services* (i.e., excluding military and government) were $14.9 billion in 2007 (latest data available), up 10.7% ($1.4 billion) from 2006, and up 473% ($12.3 billion) from 1994 level. Other private services (insurance), and the royalties and license fees categories accounted for most of U.S. services imports from Switzerland.

Trade Balance

The U.S. goods trade surplus with Switzerland was $4.2 billion in 2008, a 86.1% increase ($2.0 billion) over 2007.

The United States has a services trade deficit of $773 million with Switzerland in 2007 (latest data available).

Investment

U.S. foreign direct investment (FDI) in Switzerland (stock) was $127.7 billion in 2007 (latest data available), a 10.8% increase from 2006.

U.S. direct investment in Switzerland is led by the nonbank holding companies, and wholesale trade sectors.

Switzerland FDI in the United States (stock) was $155.7 billion in 2007 (latest data available), up 16.0% from 2006.

Switzerland direct investment in the U.S. is led by the manufacturing and finance sectors.

Sales of services in Switzerland by majority U.S.-owned affiliates were $43.3 billion in
2006 (latest data available), while sales of services in the United States by majority Switzerland-owned firms were $50.1 billion.