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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 $80 billion in 2010 (latest data available). Exports totaled $41 billion; Imports totaled $39 billion. The U.S. goods and services trade surplus with Switzerland was $2.2 billion in 2010.

Switzerland is currently our 17th largest goods trading partner with $48.9 billion in total (two ways) goods trade during 2011. Goods exports totaled $24.5 billion; Goods imports totaled $24.4 billion. The U.S. goods trade surplus with Switzerland was $39 million in 2011.

Trade in services with Switzerland (exports and imports) totaled $40 billion in 2010 (latest data available). Services exports were $20.3 billion; Services imports were $19.7 billion. The U.S. services trade surplus with Switzerland was $648 million in 2010.

Exports

Switzerland was the United States' 16th largest goods export market in 2011.

U.S. goods exports to Switzerland in 2011 were $24.5 billion, up 18.2% ($3.8 billion) from 2010, and up 146% from 2000. U.S. exports to Switzerland accounted for l.7% of overall U.S. exports in 2011.

The top export categories (2-digit HS) in 2011 were: Precious Stones (gold) ($14.5 billion), Pharmaceutical Products ($2.4 billion), Art and Antiques ($1.9 billion), Optic and Medical Instruments ($1.2 billion), and Machinery ($595 million).

U.S. exports of agricultural products to Switzerland totaled $338 million in 2011. Leading categories include: tobacco ($195 million), wine and beer ($24 million), tree nuts ($22 million), and processed fruit and vegetables ($21 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Switzerland were $20.3 billion in 2010 (latest data available), 7.6% ($1.4 billion) more than 2009 and 448% greater than 1994 levels. The other private services (business, professional, and technical services and financial services) and royalties and license fees categories accounted for most of U.S. exports in 2010.

Imports

Switzerland was the United States' 20th largest supplier of goods imports in 2011.

U.S. goods imports from Switzerland totaled $24.4 billion in 2011, a 27.6% increase ($5.3 billion) from 2010, and up 140% from 2000. U.S. imports from Switzerland accounted for 1.1% of overall U.S. imports in 2011.

The five largest import categories in 2011 were: Pharmaceutical Products ($6.7 billion), Optic and Medical Instruments ($2.9 billion), Clocks and Watches ($2.8 billion), Machinery ($2.4 billion), and Precious Stones (jewelry and diamonds) ($2.0 billion).

U.S. imports of agricultural products from Switzerland totaled $780 million in 2011. Leading categories include: snack foods, including chocolate ($95 million), roasted and instant coffee, ($83 million), cheese ($61 million), and essential oils ($14 million).

U.S. imports of private commercial services* (i.e., excluding military and government) were $19.7 billion in 2010 (latest data available), up 5.8% ($1.1 billion) from 2009, and up 655% from 1994 level. Other private services (insurance services, business, professional, and technical services) 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 $39 million in 2011, a 97.5% decrease ($1.5 billion) over 2010.

The United States had a services trade surplus of $648 million with Switzerland in 2010 (latest data available), up 125% from 2009.

Historical Trade Data

U.S. Goods Trade with Switzerland (in billions of dollars)

 

 

 

 

1980

 

  

1985

 

  

1990

 

  

1994

 

  

2000

 

  

2008

 

  

2009

 

  

2010

 

  

2011

 

Balance

 

1.0

 

-1.2

 

-0.6

 

-0.7

 

    -0.2

 

   4.2

 

   1.5

 

   1.6

 

   0.04

 

Exports

 

3.8

 

 2.3

 

 4.9

 

 5.6

 

   10.0

 

 22.0

 

  17.5

 

  20.7

 

  24.5

 

Imports

 

2.8

 

 3.5

 

 5.6

 

 6.4

 

   10.2

 

 17.8

 

  16.1

 

  19.1

 

24.4

U.S. Services Trade with Switzerland (in billions of dollars) 1994, 2000, 2004-2010

 

 

 

1994

 

 

2000

 

 

2004

 

 

2005

 

 

2006

 

 

2007

 

 

2008

 

 

2009

 

 

2010

 

Balance

 

1.1

 

0.1

 

1.7

 

-0.7

 

-1.0

 

0.3

 

0.9

 

0.3

 

0.6

 

Exports

 

3.7

 

5.6

 

10.6

 

11.4

 

13.4

 

17.1

 

19.9

  

18.9

  

20.3

 

Imports

 

2.6

 

5.5

 

8.9

 

12.1

 

14.4

 

16.8

 

19.0

 

18.6

 

19.7

Investment

U.S. foreign direct investment (FDI) in Switzerland (stock) was $143.6 billion in 2010 (latest data available), a 4.1% decrease from 2009.

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 $192.2 billion in 2010 (latest data available), up 36.6% from 2009.

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 $55.9 billion in 2009 (latest data available), while sales of services in the United States by majority Switzerland-owned firms were $46.1 billion.


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