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Switzerland's FDI in the United States (stock) was$300.4 billion in 2019, up 1.6% from 2018. Among key trade partners, exports were up to the UK, the US, Japan, Hong Kong and the Middle East. The U.S. goods and services trade deficit with Switzerland was $5.0 billion in 2019. The United States has a services trade surplus of an estimated $22 billion with Switzerland in 2019, up 16.1% from 2018. Applying last year’s surplus of CHF 2.9 billion to Switzerland’s CHF 197 billion debt mountain would only reduce it by 1.5% or CHF 341 per person. With the increase in textile production and the modernization of spinning techniques, Switzerland soon began exporting surplus textiles. Switzerland was the United States' 14th largest supplier of goods imports in 2019. The U.S. goods trade deficit with Switzerland was $18.9 billion in 2018, a 32.1% increase ($4.6 billion) over 2017. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019. Trade in services with Switzerland (exports and imports) totaled an estimated $71.9 billion in 2019. Table reflects only those months for which there was trade. With the rise in the textile industry, there was an increased need in inexpensive labor and raw materials, which Switzerland was lacking and thus began importing from other countries. The findings indicating that the country's export-dependent economy has weathered a currency market shock that sent the Swiss franc soaring. Considering the first seven months of the year, the trade surplus widened to CHF 19.9 billion from CHF 14.6 billion in the same period of 2019. Foreign trade is an important pillar of the Swiss economy. In 2019, the Swiss trade surplus widened 19 percent from the previous year to CHF 37 billion, as both imports and exports reached new records despite global trade tensions, Brexit uncertainty and Hong Kong protests. U.S. total imports of agricultural products from Switzerland totaled $1.4 billion in 2019, our 23th largest supplier of agricultural imports. In 2017, Switzerland managed a surplus of CHF 2.8 billion. Switzerland - International trade International trade has long been the key to prosperity in Switzerland. Exports were $64.7 billion; imports were $69.7 billion. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. U.S. exports of services to Switzerland were an estimated $46.8 billion in 2019, 11.8% ($5.0 billion) more than 2018, and 139% greater than 2009 levels. Details may not equal totals due to rounding. Tuesday, 24 April 2012 02:42 . Switzerland is a country two-thirds the size of West Virginia, with a population smaller than New Jersey’s and a GDP about 3.4% of that of the United States. U.S. direct investment in Switzerland is led by nonbank holding companies, manufacturing, and finance and insurance. Direct access to our calendar releases and historical data. News Related to International Trade in Switzerland . Switzerland has a trade surplus with the US, Canada, the UK and many emerging markets. Between 2008 and 2018, the EU ran a trade surplus with Switzerland (meaning that it exported more than it imported). Switzerland is currently our 16th largest goods trading partner with $62.5 billion in total (two way) goods trade during 2019. Trade surplus narrows in Switzerland. Switzerland News. Story continues below. Discover more about trade surplus'. Details may not equal totals due to rounding. Switzerland has a budget surplus. Exports to the US market have doubled since 2011. According to the Switzerland’s Federal Statistic Office release on Tuesday, the trade surplus in March narrows to 1.69 billion CHF from February’s 2.62 billion CHF. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Switzerland’s trade surplus is affected by imported gold from Asia, and reduced demand for luxury Swiss watches. (RTTNews) - Switzerland's foreign trade surplus increased in November, figures from the Federal Customs Administration showed Thursday. The services surplus dhrank sharply to CHF 3 billion from CHF 6.6 billion. Between 2008 and 2018, the EU ran a trade surplus with Switzerland (meaning that it exported more than it imported). In 2019, Switzerland's trade balance - the value of goods exported minus the value of goods imported - showed a surplus … The U.S. services trade surplus with Switzerland was $21.8 billion in 2019. The biggest trade surpluses were recorded with the US, India, the UK, China, Hong Kong, Japan and Singapore; and the largest deficits were recorded with the UAE, Germany, Ireland, Italy and Thailand. Considering the first eight months of the year, the trade surplus widened to CHF 23.4 billion from CHF 15.9 billion in the same period of 2019. 1950-2020 Data | 2021-2022 Forecast | Calendar. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. Purchases increased 1.9 percent from a month earlier to CHF 15.2 billion led by chemical & pharmaceutical products, vehicles, metals, textiles and footwear, and precision instruments. The largest surplus was held by Italy (EUR 15 086 million), followed by Germany (EUR 13 618 million) and Ireland (EUR 3 477 million). U.S. imports of services from Switzerland were an estimated $25.0 billion in 2019, 8.4% ($1.9 billion) more than 2018, and 29.7% greater than 2009 levels. Meanwhile, exports fell 1.9 percent from a month earlier to CHF 17.9 billion, dragged down by sales of chemical & pharmaceutical products, machines & electronics, watches, metals, and jewelry. In economic news, Switzerland’s trade surplus widened to CHF3.4 billion in July, compared to a revised surplus of CHF3.2 billion in June. Technology and IIoT Swiss exports are mostly luxury products and pharmaceuticals. For countries with highly developed economies, like Switzerland, it means that labor-intensive production is transferred abroad, thus restraining inflation and maintaining high standard of living. The Trading Economics Application Programming Interface (API) provides direct access to our data. The trade surplus … Leading services imports from Switzerland to the U.S. were in the intellectual property (industrial processes), professional and management services, and insurance services sectors. Switzerland belongs to those countries where the share of foreign trade in gross domestic product (GDP) is highest. In 2018 Switzerland was the number 20 economy in the world in terms of GDP (current US$), the number 18 in total exports, the number 17 in total imports, and the number 2 most complex economy according to the Economic Complexity Index (ECI). Leading categories include: roasted & instant coffee ($361 million), snack foods ($128 million), cheese ($89 million), essential oils ($26 million), and other dairy products ($8 million). a trade surplus exists if there is a net inflow of capital excluding foreign borrowing and lending . In 2019, China was the country with the highest trade surplus with approximately 421.9 billion U.S. dollars. Table reflects only those months for which there was trade. Switzerland Trade Surplus Falls In February | Financial News It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. That positive balance represents a 15.8% increase from $31.9 billion in black ink one year earlier. Assuming an annualized $312 billion in exports for all 2020, Switzerland is on track for an estimated -0.7% drop in value for its shipments from 2019 to 2020. The data reached an all-time high of 9.5 USD bn in Apr 2013 and a record low of -1.8 USD bn in Feb 2001. According to the Department of Commerce, U.S. exports of goods and services to Switzerland supported an estimated 271 thousand jobs in 2015 (latest data available) (73 thousand supported by goods exports and 199 thousand supported by services exports). U.S. total exports of agricultural products to Switzerland totaled $393 million in 2019. Switzerland posts trade surplus of 36.6 billion Swiss francs ($36.1bn, 33bn euros) in 2015 despite declines in exports. For the 24 hours to 23:00 GMT, the USD declined 0.80% against the CHF and closed at 0.9072. In 2019, Switzerland GDP was an estimated $715.4 billion (current market exchange rates); real GDP was up by an estimated 0.9%; and the population was 9 million. While pharmaceuticals, chemicals, and automobiles led the drop, there were improvements in sales of machines, electronics, precision instruments, and metals. Switzerland was the EU's 4th largest partner for imports (6% of total extra-EU imports) and the 3rd largest for EU exports (8% of total extra-EU exports) in 2018. The total surplus for the 4 first months in 2013 was 7.7 billion CHF, about 1.2% of GDP, annualized around 4%. Trade with Swiss Bank. Trade surplus narrows in Switzerland. Switzerland shipped US$314.1 billion worth of products around the globe in 2019. Considering the third quarter as a whole, the trade surplus narrowed to CHF 8.2 billion from CHF 9.6 billion in the previous three-month period. This statistic shows the trade balance of Switzerland from 2009 to 2019. Meanwhile, imports fell 1.8 percent to CHF 14.9 billion dragged by purchases of chemical & pharmaceutical products, machines & electronics, vehicles, textiles and footwear, and precision instruments. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Swiss climate activists appear in court over Credit Suisse 'tennis' protest - Jan 08, 2020. In economic news, Switzerland’s trade surplus widened to CHF2.9 billion in September, after recording a revised surplus of CHF2.2 billion in the prior month. U.S. foreign direct investment (FDI) in Switzerland (stock) was $229.0 billion in 2019, a 9.6% decrease from 2018. Exports increased 1.1 percent led by sales of machines & electronics, precision instruments, watches, metals, and food and beverages. Traditionally, its merchandise trade deficit has been generously compensated by a surplus trade in services. According to the Switzerland’s Federal Statistic Office release on Tuesday, the trade surplus in March narrows to 1.69 billion CHF from February’s 2.62 billion CHF. Sep 22, 2020. Switzerland has a large trade surplus. The U.S. services trade surplus with Switzerland was $21.8 billion in 2019. Switzerland recorded a Government Budget surplus equal to 1.50 percent of the country's Gross Domestic Product in 2019. This trade surplus was highest in 2013 at €75 billion and lowest in 2009 at €8 billion. Publish your articles and forecasts in our website. Among key trade partners, exports were up to the Euro Area, the US, China, Japan, Singapore, Hong Kong and the Middle East. 2020 : U.S. trade in goods with Switzerland . Exports to the U.S. market have doubled since 2011. The Swiss merchandise trade surplus is particularly strong with the United States, UK, Japan, Middle East, Latin America, Russia, Hong Kong and other Emerging Markets, especially for relatively price-insensitive pharmaceutical and luxury products that are sold. This page provides - Switzerland Government Budget - actual values, … Trade Balance. The Treasury cited Switzerland’s large bilateral goods trade surplus with the United States as well as its overall current account surplus. This surplus amounted in 1999 to US$18.7 billion or 7.5 percent of GDP. a trade surplus exists if there is a net outflow of capital excluding foreign borrowing and lending . Switzerland's trade surplus remained broadly unchanged in February, and slightly exceeded economists' forecast, latest data showed Thursday. U.S. goods and services trade with Switzerland totaled an estimated $134.4 billion in 2019. U.S. goods exports to Switzerland in 2019 were $17.9 billion, down 19.3% ($4.3 billion) from 2018 but up 2.2% from 2009. Under the WTO, Switzerland is committed to lowering customs tariffs and to keep open services markets. The main partners in the cross-border trade of goods are the industrialised countries; the EU is particularly important. The top export categories (2-digit HS) in 2019 were: precious metal and stone (gold) ($7.3 billion), pharmaceuticals ($2.0 billion), art and antiques ($1.8 billion), optical and medical instruments ($1.4 billion), and aircraft ($1.3 billion). Switzerland's direct investment in the U.S. is led by manufacturing, finance and insurance, and information services. Switzerland had a total export of 310,524,275.09 in thousands of US$ and total imports of 278,665,555.58 in thousands of US$ leading to a positive trade balance of 31,858,719.51 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Switzerland is 1.70% and the Most Favored Nation (MFN) Weighted Average tariff is 3.42%.The trade growth is 1.21% compared to … It is an indication of high production level. Imports were up from the Euro Area, Japan, Singapore, but were down from China, the US, and the UK. Investment Published on May 29, 2009. The top import categories (2-digit HS) in 2019 were: pharmaceuticals ($16 billion), special other (returns) ($7.0 billion), organic chemicals ($4.0 billion), optical and medical instruments ($3.9 billion), and clocks and watches ($3.2 billion). Leading domestic export categories include: tobacco ($204 million), tree nuts ($32 million), wine & beer ($15 million), beef & beef products ($10 million), and snack foods not elsewhere specified or indicated ($10 million). Among key trade partners, exports declined to the Euro Area, the US, Japan, Singapore, Hong Kong and the Middle East. German trade surplus with Switzerland. The trade in goods balance between the EU Member States and Switzerland is shown in Table 1c. Copy Link; Email; Facebook; Twitter; Reddit; LinkedIn; Tumblr; Trending. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Sales of services in Switzerland by majority U.S.-owned affiliates were $81.2 billion in 2017 (latest data available), while sales of services in the United States by majority Switzerland-owned firms were $48.4 billion. Download historical data for 20 million indicators using your browser. Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus. The current account surplus in Switzerland narrowed to CHF 17.4 billion in the first quarter of 2020 from CHF 20.1 billion a year earlier, mainly due to trade in services, particularly licence fees, telecommunications, computer and information services, and business services. The trade surplus rose to CHF 3. Home News Swiss trade surplus rises. Switzerland has recorded a SFr7.1 billion ($5.75 billion) trade surplus for the January to September period, the biggest surplus in the past four years. In 2018 Switzerland was the number 20 economy in the world in terms of GDP (current US$), the number 18 in total exports, the number 17 in total imports, and the number 2 most complex economy according to the Economic Complexity Index (ECI). Overview: This page contains the latest international trade data for Switzerland. According to the Federal Customs Administration, Switzerland’s trade surplus slipped to $2.5 billion in December, down from $2.36 billion in November as exports declined for the third consecutive month. Imports were up from the Euro Area, the UK, Hong Kong and the US, but were down from China, Japan. Overall, Switzerland posted a $36.9 billion trade surplus for 2019. Switzerland's trade surplus increased to CHF 2.9 billion in October 2020 from a downwardly revised CHF 2.4 billion in the previous month, as the coronavirus pandemic continued to weigh on global demand. Switzerland's trade surplus increased to CHF 2.9 billion in October 2020 from a downwardly revised CHF 2.4 billion in the previous month, as the coronavirus pandemic continued to weigh on global demand. Switzerland had a total export of 310,524,275.09 in thousands of US$ and total imports of 278,665,555.58 in thousands of US$ leading to a positive trade balance of 31,858,719.51 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Switzerland is 1.70% and the Most Favored Nation (MFN) Weighted Average tariff is 3.42%.The trade growth is 1.21% compared to … (RTTNews) - Switzerland's foreign trade surplus increased in November, figures from the Federal Customs Administration showed Thursday. Advertisement. Discover more about trade surplus'. Switzerland's trade surplus declined to CHF 2.7 billion in September 2020 from a downwardly revised CHF 3.3 billion in the previous month, as exports fell while imports rose, amid the coronavirus pandemic. Government Budget in Switzerland averaged -0.46 percent of GDP from 1990 until 2019, reaching an all time high of 1.90 percent of GDP in 2008 and a record low of -3.20 percent of GDP in 1993. 2020 : U.S. trade in goods with Switzerland . (Source: IMF). The United States has a services trade surplus of an estimated $10 billion with Switzerland in 2017 (latest data available), up 15.8% from 2016. Airbus Exploring Hydrogen-Powered Aircraft for 2035. The main partners in the cross-border trade of goods are the industrialised countries; the EU is particularly important. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019, a 41.4% increase ($7.8 billion) over 2018. This trade surplus was highest in 2013 at €75 billion and lowest in 2009 at €8 billion. Switzerland ran a 27.65 billion franc surplus last year, up from 25.38 billion in 2018 and 21.08 billion in 2017. Exports rely mostly on high-tech sectors, which are less dependent on the international economic situation than other industries. The Swiss global transit trade . Incooperation with the Federal Customs Administration (FCA), the FSO makes available the foreign trade results. Tuesday, 24 April 2012 02:42. Swiss trade surplus rises. Switzerland’s exported goods totaled $208 billion during the first 8 months of 2020. The following types of Swiss product shipments represent positive net exports or a trade balance surplus. Article Sidebar. September's trade surplus was the highest in Switzerland since at least 1987, according to the latest trade figures from the Federal Customs Office. Imports were down from the EU, Japan and the US, but were up from China and the UK. It shows that 18 Member States had a trade surplus with Switzerland. Glencore, with its basis near the tax paradise Zug, is the leader of the global … Imports were down from the Euro Area, China, Singapore, but were up from the UK, Japan and the US. That figure represents roughly 1.6% of overall global exports for 2018 estimated at $19.285 trillion. Switzerland was the United States' 19th largest goods export market in 2019. That dollar amount represents a 15.8% increase from $31.9 billion in black ink for 2018. Leading services exports from the U.S. to Switzerland were in the intellectual property (industrial processes), research and development services, and professional and management services sectors. U.S. exports to Switzerland account for 1% of overall U.S. exports in 2019. The increase was mainly due to an increase in labor and investment income, the SNB said. Services exports were $46.8 billion; services imports were $25.0 billion. Exports declined 0.4 percent from a month earlier to CHF 17.8 billion, dragged down by sales of chemical & pharmaceutical products, precision instruments, and food and beverages. Meanwhile, imports rose at a faster 2.5 percent boosted by purchases of chemical & pharmaceutical products, vehicles, metals, and precision instruments. Switzerland ran a 27.65 billion franc surplus last year, up from 25.38 billion in 2018 and 21.08 billion in 2017. U.S. imports from Switzerland account for 1.8% of overall U.S. imports in 2019. Share Share this Story: Switzerland to meet U.S. criteria for currency manipulator label, sources say. Switzerland was the EU's 4th largest partner for imports (6% of total extra-EU imports) and the 3rd largest for EU exports (8% of total extra-EU exports) in 2018. Economists use the Trade Balance to evaluate the structure of trade flows between countries. Trade in services with Switzerland (exports and imports) totaled an estimated $71.9 billion in 2019. 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