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Switzerland

Switzerland FlagSwitzerland, along with Norway, Iceland, and Liechtenstein, is a member of the European Free Trade Association (EFTA). Switzerland is currently the United States' 21st 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 $100 billion in 2012 (latest data available). Exports totaled $53 billion; Imports totaled $47 billion. The U.S. goods and services trade surplus with Switzerland was $6 billion in 2012.

Switzerland is currently our 14th largest goods trading partner with $55 billion in total (two ways) goods trade during 2013. Goods exports totaled $27 billion; Goods imports totaled $28 billion. The U.S. goods trade deficit with Switzerland was $1.3 billion in 2013.

Trade in services with Switzerland (exports and imports) totaled $47 billion in 2012 (latest data available). Services exports were $26 billion; Services imports were $21 billion. The U.S. services trade deficit with Switzerland was $5 billion in 2012.

Exports

Switzerland was the United States' 14th largest goods export market in 2013.

U.S. goods exports to Switzerland in 2013 were $27.0 billion, up 2.2% ($590 million) from 2012, and up 212% from 2003. U.S. exports to Switzerland accounted for l.7% of overall U.S. exports in 2013.

The top export categories (2-digit HS) in 2013 were: Precious Stones (gold) ($16.5 billion), Pharmaceutical Products ($2.1 billion), Art and Antiques ($1.8 billion), Optic and Medical Instruments ($1.3 billion), and Aircraft ($872 million).

U.S. exports of agricultural products to Switzerland totaled $469 million in 2013. Leading categories include: tobacco ($215 million), soybeans ($87 million), tree nuts ($36 million), and wine and beer ($17 million). 

U.S. exports of private commercial services* (i.e., excluding military and government) to Switzerland were $26.3 billion in 2012 (latest data available), 14.9% ($3.4 billion) more than 2011 and 317% greater than 2002 levels. The other private services (business, professional, and technical services) and royalties and license fees (industrial processes, trademarks) categories accounted for most of U.S. exports in 2012.

Imports

Switzerland was the United States' 15th largest supplier of goods imports in 2013.

U.S. goods imports from Switzerland totaled $28.3 billion in 2013, a 10.1% increase ($2.6 billion) from 2012, and up 165% from 2003.  U.S. imports from Switzerland accounted for 1.2% of overall U.S. imports in 2013.

The five largest import categories in 2013 were: Pharmaceutical Products ($8.3 billion), Special Other (returns) ($3.6 billion), Optic and Medical Instruments ($2.9 billion), Clocks and Watches ($2.8 billion), and Machinery ($2.4 billion).

U.S. imports of agricultural products from Switzerland totaled $1.0 billion in 2013. Leading categories include: snack foods, including chocolate ($91 million), cheese ($82 million), and roasted and instant coffee ($48 million). 

U.S. imports of private commercial services* (i.e., excluding military and government) were $21.1 billion in 2012 (latest data available), up 11.4% ($2.2 billion) from 2011, and up 184% from 2002 level. Other private services (insurance services, business, professional, and technical services) and the royalties and license fees (industrial processes) categories accounted for most of U.S. services imports from Switzerland.

Trade Balance

The U.S. goods trade with Switzerland went from a surplus of $718 million in 2012, to a deficit of $1.3 billion in 2013. 

The United States had a services trade surplus of $5.2 billion with Switzerland in 2012 (latest data available), up 32% from 2011. 

Investment

U.S. foreign direct investment (FDI) in Switzerland (stock) was $130.3 billion in 2012 (latest data available), a 14.6% increase from 2011.

U.S. direct investment in Switzerland is led by the nonbank holding companies, manufacturing, wholesale, and finance/insurance sectors.

Switzerland FDI in the United States (stock) was $204 million in 2012 (latest data available), up 0.9% from 2011.

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

Sales of services in Switzerland by majority U.S.-owned affiliates were $70.4 billion in 2011 (latest data available), while sales of services in the United States by majority Switzerland-owned firms were $55.5 billion.


*NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures, and other miscellaneous U.S. government services.

4/29/14