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 $69 billion in 2009 (latest data available for goods and services trade). Exports totaled $35 billion; Imports totaled $34 billion. The U.S. goods and services trade surplus with Switzerland was $1 billion in 2009.

Switzerland is currently our 20th largest goods trading partner with $39.8 billion in total (two ways) goods trade during 2010. Goods exports totaled $20.7 billion; Goods imports totaled $19.1 billion. The U.S. goods trade surplus with Switzerland was $1.6 billion in 2010.

Trade in services with Switzerland (exports and imports) totaled $35.5 billion in 2009 (latest data available for services trade). Services exports were $17.5 billion; Services imports were $18.0 billion. The U.S. services trade deficit with Switzerland was $492 million in 2009.

Exports

Switzerland was the United States' 16th largest goods export market in 2010.

U.S. goods exports to Switzerland in 2010 were $20.7 billion, up 18.2% ($3.2 billion) from 2009, and up 268% from 1994 (the year prior to Uruguay Round). U.S. exports to Switzerland accounted for l.6% of overall U.S. exports in 2010.

The top export categories (2-digit HS) in 2010 were: Precious Stones (scrap of precious metal and gold) ($11.2 billion), Pharmaceutical Products ($2.1 billion), Art and Antiques ($1.8 billion), Optic and Medical Instruments ($1.2 billion), and Special Other (low value shipments) ($693 million).

U.S. exports of agricultural products to Switzerland totaled $253 million in 2010. Leading categories include: tobacco ($118 million), wine and beer ($21 million), tree nuts ($20 million), and processed fruit and vegetables ($15 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Switzerland were $17.5 billion in 2009 (latest data available), 8.8% ($1.7 billion) less than 2008 but 373% 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 2009.

Imports

Switzerland was the United States' 21st largest supplier of goods imports in 2010.

U.S. goods imports from Switzerland totaled $19.1 billion in 2010, a 19.2% increase ($3.1 billion) from 2009, and up 200% over the last 16 years. U.S. imports from Switzerland accounted for 1.0% of overall U.S. imports in 2010.

The five largest import categories in 2010 were: Pharmaceutical Products ($5.0 billion), Optic and Medical Instruments ($2.3 billion), Machinery ($1.9 billion), Clocks and Watches ($1.8 billion), and Organic Chemicals ($1.8 billion).

U.S. imports of agricultural products from Switzerland totaled $665 million in 2010. Leading categories include: snack foods, including chocolate ($79 million), roasted and instant coffee, ($62 million), cheese ($62 million), and essential oils ($19 million).

U.S. imports of private commercial services* (i.e., excluding military and government) were $18.0 billion in 2009 (latest data available), up 11.3% ($1.8 billion) from 2008, and up 592% 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 $1.6 billion in 2010, a 7.7% increase ($111 million) over 2009.

The United States had a services trade deficit of $491 million with Switzerland in 2009 (latest data available).

Investment

U.S. foreign direct investment (FDI) in Switzerland (stock) was $148.2 billion in 2009 (latest data available), a 12.2% increase from 2008.

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

Switzerland FDI in the United States (stock) was $189.4 billion in 2009 (latest data available), up 15.1% from 2008.

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 $57.8 billion in 2008 (latest data available), while sales of services in the United States by majority Switzerland-owned firms were $53.5 billion.

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