In second place is medication mixes in dosage followed by blood fractions including antisera, watches, then jewelry. For other lucrative Swiss exports, please see our Searchable List of Switzerland’s Most Valuable Export Products near the bottom of this article.
Exports from Switzerland totaled US$310.5 billion in 2018, down by -0.2% since 2014. Year over year, Swiss exports increased in value by 3.7% from 2017 to 2018.
During the first 9 months of 2019 Switzerland exported $235.3 billion worth of goods, down just -0.01% compared to the same period one year earlier.
From a continental perspective, 45.9% of Swiss exports by value in 2018 were delivered to fellow European countries while 35.1% were sold to Asian importers. Switzerland shipped another 14.9% to North America. Smaller percentages went to Latin America (1.8%) excluding Mexico but including the Caribbean, Africa (1.2%) and Oceania (1%) led by Australia.
Given Switzerland’s population of 8.3 million people, its total $310.5 billion in 2018 exports translates to roughly $37,500 for every resident in the central European nation.
Switzerland’s Top 10 Exports
Top 10
The following export product groups categorize the highest dollar value in Swiss global shipments during 2018. Also shown is the percentage share each export category represents in terms of overall exports from Switzerland.
- Gems, precious metals: US$81.5 billion (26.2% of total exports)
- Pharmaceuticals: $75.2 billion (24.2%)
- Machinery including computers: $24.9 billion (8%)
- Clocks, watches including parts: $21.6 billion (7%)
- Organic chemicals: $20.8 billion (6.7%)
- Optical, technical, medical apparatus: $17.3 billion (5.6%)
- Electrical machinery, equipment: $12.8 billion (4.1%)
- Plastics, plastic articles: $5.6 billion (1.8%)
- Perfumes, cosmetics: $3.7 billion (1.2%)
- Articles of iron or steel: $3.1 billion (1%)
Switzerland’s top 10 exports accounted for 85.8% of the overall value of its global shipments.
Perfumes and cosmetics increased in value at the fastest pace, up by 13.5% in value year over year. This upward trend was largely led by beauty or makeup preparations and preparations for the care of skin (including sunscreen).
In second place for improving export sales was plastics including items made from plastic via a 9% uptick.
Trailing Switzerland’s two leading categories was optical, technical and medical apparatus (up 7.9%) then clocks and watches including parts (up 6.9%).
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Switzerland’s Most Valuable Export Products further down below.
Advantages
Overall, Switzerland posted a $31.5 billion trade surplus for 2018. That dollar amount represents a -0.9% drop from the $31.8 billion deficit for 2017.
The following types of Swiss product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Pharmaceuticals: US$45.2 billion (Up by 8.7% since 2017)
- Clocks, watches including parts: $17.5 billion (Up by 5.4%)
- Optical, technical, medical apparatus: $9.1 billion (Up by 7.9%)
- Organic chemicals: $7.9 billion (Down by -11.2%)
- Machinery including computers: $4.8 billion (Down by -0.8%)
- Perfumes, cosmetics: $2.2 billion (Up by 17.9%)
- Coffee, tea, spices: $1.5 billion (Up by 6.1%)
- Base metal tools, cutlery: $894.1 million (Up by 5.8%)
- Tanning, dyes, paints, varnishes, ink: $844.3 million (Up by 2.9%)
- Tobacco, manufactured substitutes: $364.1 million (Up by 32.2%)
Switzerland has highly positive net exports in the international trade of pharmaceuticals. In turn, these cashflows indicate Switzerland’s strong competitive advantages under the drugs and medicines product category.
Opportunities
Below are exports from Switzerland that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Switzerland’s goods trail Swiss importer spending on foreign products.
- Vehicles: -US$12.8 billion (Up by 1.7% since 2017)
- Mineral fuels including oil: -$6.8 billion (Up by 10.4%)
- Gems, precious metals: -$5.1 billion (Up by 12.8%)
- Furniture, bedding, lighting, signs, prefab buildings: -$3.8 billion (Up by 6.2%)
- Clothing, accessories (not knit or crochet): -$2.5 billion (Up by 6.9%)
- Knit or crochet clothing, accessories: -$2.2 billion (Up by 8.8%)
- Electrical machinery, equipment: -$2.1 billion (Up by 7%)
- Aircraft, spacecraft: -$1.5 billion (Up by 43.5%)
- Iron, steel: -$1.5 billion (Up by 14.7%)
- Wood: -$1.4 billion (Up by 6.1%)
Switzerland has highly negative net exports and therefore deep international trade deficits for vehicles–notably imported cars and trucks.
These cashflow deficiencies clearly indicate Switzerland’s competitive disadvantages in the international vehicles market — no great surprise given its close proximity to automobile-making neighbors including Germany, France, the UK and Italy.
Companies
Swiss Export Companies
Based on Forbes Global 2000 rankings, here are examples of large international trade players from Switzerland. Shown within parentheses are the types of products each company provides.
- Nestlé (food processing)
- Novartis (pharmaceuticals)
- Roche Holding (pharmaceuticals)
- ABB Group (automation technology)
- Holcim (construction materials)
- Glencore International (diversified metals)
- Syngenta (pesticides, specialized chemicals)
- TE Connectivity (electronics)
- Transocean (offshore drilling equipment)
- Swatch Group (clothing, watches)
- Weatherford International (oil field equipment)
- Schindler Group (escalators, elevators)
Global trade intelligence firm Zepol also documents the following companies as examples of Swiss exporters:
- Baselux Sa Lugano Branch (heterocyclic compounds, printed documents)
- Novametal Sa Switzerland (stainless steel wire, plastic bobbins, aluminum wire)
- Olivado Tanlay (vegetable oil, honey, coconut oil)
- Polarome Switzerland (ketones, acetic acid esthers, acyclic polyhyric acids)
- Starbucks Coffee Trading (coffee, tea, paper bags)
Searchable List of Switzerland’s Most Valuable Export Products
At the more granular four-digit HTS code level, the following searchable table displays 200 of the most in-demand goods shipped from Switzerland during 2018. Shown beside each product label is its total export value then the percentage increase or decrease since 2017.
| Rank | Swiss Export Product | 2018 Value (US$) | Change |
|---|---|---|---|
| 1 | Gold (unwrought) | $64 billion | -5.7% |
| 2 | Medication mixes in dosage | $44.8 billion | +9.2% |
| 3 | Blood fractions (including antisera) | $29 billion | +3.4% |
| 4 | Wrist/pocket watches (no precious metal case) | $13.6 billion | +7.7% |
| 5 | Jewelry | $11.7 billion | +4.9% |
| 6 | Heterocyclics, nucleic acids | $9.5 billion | +13.8% |
| 7 | Wrist/pocket watches (precious metal case) | $6.8 billion | +4.9% |
| 8 | Orthopedic appliances | $6.3 billion | +3.9% |
| 9 | Electro-medical equip (e.g. xrays) | $4 billion | +11.1% |
| 10 | Hormones, miscellaneous steroids | $2.5 billion | -20.9% |
| 11 | Coffee | $2.3 billion | +4.3% |
| 12 | Miscellaneous machinery | $2.3 billion | +12.5% |
| 13 | Electrical energy | $2.1 billion | +42.1% |
| 14 | Hand-drawn paintings, drawings | $2 billion | +17.8% |
| 15 | Diamonds (unmounted/unset) | $2 billion | +8.9% |
| 16 | Taps, valves, similar appliances | $1.8 billion | -0.6% |
| 17 | Non-alcoholic drinks (not water/juice/milk) | $1.8 billion | -1.2% |
| 18 | Scents used for beverage or industrial manufacturing | $1.8 billion | +5.6% |
| 19 | Turbo-jets | $1.7 billion | -14.1% |
| 20 | Electric motors, generators | $1.6 billion | +9.7% |
| 21 | Physical/chemical analysis tools | $1.5 billion | +9.9% |
| 22 | Lower-voltage switches, fuses | $1.5 billion | +8.7% |
| 23 | Carboxyamid/amide-function compounds | $1.5 billion | +2.7% |
| 24 | Antibiotics | $1.4 billion | +19.1% |
| 25 | Automobile parts/accessories | $1.4 billion | +3.7% |
| 26 | Temperature-change machines | $1.4 billion | +4.2% |
| 27 | Beauty/makeup/skin care preparations | $1.3 billion | +32.3% |
| 28 | Miscellaneous heterocyclics | $1.3 billion | -2.2% |
| 29 | Other measuring/testing machines | $1.2 billion | +14.9% |
| 30 | Other machine parts, accessories | $1.2 billion | +4.7% |
| 31 | Material removal machine-tools | $1.1 billion | +17.5% |
| 32 | Air or vacuum pumps | $1.1 billion | +1.9% |
| 33 | Aircraft, spacecraft | $1.1 billion | -14% |
| 34 | Platinum (unwrought) | $1.1 billion | -0.3% |
| 35 | Liquid/gas checking instruments | $1.1 billion | +12.7% |
| 36 | Aluminum plates, sheets, strips | $1.1 billion | +1.9% |
| 37 | Electrical converters/power units | $971.5 million | +10.1% |
| 38 | Iron and steel screws, bolts, nuts, washers | $959.2 million | +0.5% |
| 39 | Precious/semi-precious stones (unstrung) | $906.4 million | +1.4% |
| 40 | Miscellaneous plastic items | $901.7 million | +5.7% |
| 41 | Chocolate, other cocoa preparations | $863.3 million | +1.4% |
| 42 | Transmission shafts, gears, clutches | $848.1 million | +6.9% |
| 43 | Silver (unwrought) | $835 million | +11.8% |
| 44 | Electrical/optical circuit boards, panels | $817.6 million | +15.5% |
| 45 | Interchangeable hand/machine tools | $786 million | +6.3% |
| 46 | Debur/sharpen/grind machine tools | $783.5 million | +26.1% |
| 47 | Plastic packing goods, lids, caps | $778 million | +13.7% |
| 48 | Dishwashing, clean/dry/fill machines | $760.5 million | -3.6% |
| 49 | Electric circuit parts, fuses, switches | $755.4 million | +5.7% |
| 50 | Processed petroleum oils | $743.9 million | +36.4% |
| 51 | Sutures, special pharmaceutical goods | $734.3 million | -5.9% |
| 52 | Other food preparations | $731.6 million | +6.5% |
| 53 | Insulated wire/cable | $722.1 million | +11.9% |
| 54 | High-voltage switches, fuses | $698.1 million | -7.7% |
| 55 | Rubber/plastic article making machines | $690 million | +8.4% |
| 56 | Liquid pumps and elevators | $689.4 million | +7.6% |
| 57 | Aircraft parts | $679.1 million | +11.6% |
| 58 | Printing machinery | $648.6 million | +12.5% |
| 59 | Integrated circuits/microassemblies | $640.8 million | +19.1% |
| 60 | Cheese, curd | $635.5 million | +4.1% |
| 61 | Cases, handbags, wallets | $632.9 million | +30.9% |
| 62 | Cars | $629 million | +20.3% |
| 63 | Polyacetal/ether/carbonates | $614.3 million | +14.5% |
| 64 | Flour/meal/starch/malt extract food preparations | $609.1 million | +18.8% |
| 65 | Footwear (leather) | $600.4 million | +15.8% |
| 66 | Phone system devices | $599.5 million | -4.7% |
| 67 | Cigars/cigarellos, cigarettes | $574.9 million | +16% |
| 68 | Metal soldering/hot-spray equipment | $555.7 million | +7.8% |
| 69 | Computers, optical readers | $551.2 million | +18.4% |
| 70 | Plastic tubes, pipes, fittings | $536.4 million | +7.1% |
| 71 | Centrifuges, filters and purifiers | $532.1 million | -5.2% |
| 72 | Miscellaneous iron or steel items | $522.8 million | +20% |
| 73 | Electrical machinery | $520.9 million | +16.6% |
| 74 | Amino-compounds (oxygen) | $510.3 million | -14% |
| 75 | Medication mixes not in dosage | $506 million | +53.8% |
| 76 | Plastic plates, sheets, film, tape, strips | $496.7 million | -7.5% |
| 77 | Hydrazine/hydroxylamine derivatives | $492.8 million | +13.3% |
| 78 | Chemical industry products/residuals | $484 million | +10% |
| 79 | Men's suits, trousers (not knit or crochet) | $479.7 million | +18% |
| 80 | Plastic plates, sheets, film, tape, strips | $477.4 million | +20.6% |
| 81 | Electric water heaters, hair dryers | $474.7 million | +7.4% |
| 82 | Survey/hydro/weather instruments | $472.4 million | +10.3% |
| 83 | Miscellaneous iron or steel tubes, pipes | $466.8 million | +8% |
| 84 | Paper/pulp/paperboard machinery | $461.4 million | +9.3% |
| 85 | Women's clothing (not knit or crochet) | $460 million | +42.4% |
| 86 | Metal-working machinery | $445.5 million | +34% |
| 87 | Lifting/loading machinery | $444.8 million | +14.4% |
| 88 | Solar power diodes/semi-conductors | $439.9 million | +20% |
| 89 | Synthetic organic coloring | $434.5 million | +5.2% |
| 90 | Other clock/watch parts | $433.6 million | +11.5% |
| 91 | Miscellaneous furniture | $429.7 million | -0.7% |
| 92 | Auxiliary machines | $422.9 million | -9.8% |
| 93 | Precious metal waste, scrap | $415.2 million | +14.7% |
| 94 | Industrial preparation machinery | $397.6 million | +3.3% |
| 95 | Heterocyclics, oxygen | $382.3 million | -0.7% |
| 96 | Sculptures, statues | $382 million | -14.2% |
| 97 | Precious metal compounds | $380 million | +3.5% |
| 98 | Machinery parts | $376.9 million | -11.5% |
| 99 | Moulding boxes/base | $376.7 million | +13.5% |
| 100 | Miscellaneous iron and steel structures | $368.2 million | +5% |
| 101 | Machine-tool for metal | $341.7 million | +17.9% |
| 102 | Glaze/graft putty, cement, filling | $340 million | +11.1% |
| 103 | Spray/dispersing mechanical appliances | $336 million | +10.6% |
| 104 | Copper waste, scrap | $333.3 million | +2.8% |
| 105 | Machinery for making semi-conductors | $330.3 million | -11.3% |
| 106 | Perfumes, toilet waters | $327.2 million | +0.9% |
| 107 | Engines (diesel) | $320.6 million | +52.5% |
| 108 | Prepared adhesives, glues | $319.2 million | +8.9% |
| 109 | X-ray equipment | $319.2 million | -4.9% |
| 110 | Optical fiber cables, sheets, plates | $301.8 million | +24% |
| 111 | Watch straps, bands, bracelets | $301.1 million | +14% |
| 112 | Oscilloscopes, spectrum analyzers | $295.9 million | +0.3% |
| 113 | Electric motor parts | $294 million | +3.8% |
| 114 | Packaged insecticides/fungicides/herbicides | $289.3 million | -16.4% |
| 115 | Piston engine parts | $288.2 million | +14.8% |
| 116 | Railway/tram parts | $281.3 million | +6.4% |
| 117 | Iron or steel scrap | $278.6 million | +10.7% |
| 118 | Mechano-therapy appliances | $273.6 million | +22.5% |
| 119 | Printed circuits | $242.9 million | +9.8% |
| 120 | Aluminum bars/rods | $239.9 million | +18.4% |
| 121 | Metal planing/shaping/sawing machines | $236.1 million | +20.9% |
| 122 | Unrecorded sound media | $235.4 million | -18.6% |
| 123 | Paper containers, cellulose wadding | $232.5 million | +3.5% |
| 124 | Regulate/control instruments | $231.1 million | +7% |
| 125 | Paint/varnish non-aqueous solution | $230.7 million | -1.2% |
| 126 | Miscellaneous animal feed preparations | $228 million | +9.3% |
| 127 | Connector/insulating parts | $225.8 million | +17% |
| 128 | Antiques (over 100 years old) | $218.3 million | +29% |
| 129 | Aluminum waste, scrap | $217.6 million | +5.6% |
| 130 | Jerseys, pullovers (knit or crochet) | $215.3 million | +18.5% |
| 131 | Aluminum foil (thin) | $214.5 million | +4.8% |
| 132 | Aluminum (unwrought) | $213.1 million | +21.4% |
| 133 | Lubricants, cutting-oil preparations | $212.8 million | +9% |
| 134 | Watch components, assembled | $211.9 million | +9.4% |
| 135 | Metal-removing lathes | $209.4 million | +20% |
| 136 | Footwear (textile) | $208.4 million | +28.7% |
| 137 | Liquid crystal/laser/optical tools | $207 million | +10.3% |
| 138 | Bombs, grenades, ammunition | $206.9 million | +31.7% |
| 139 | Sulphonamides | $206.9 million | -33.2% |
| 140 | Women's clothing (knit or crochet) | $206.3 million | +18.7% |
| 141 | Other organic cleaning preparations | $202 million | +11.4% |
| 142 | Ketones, quinones | $202 million | -1.2% |
| 143 | Coiled iron or non-alloy steel bars, rods | $201 million | +12.4% |
| 144 | Pneumatic hand tool | $194.7 million | +3.1% |
| 145 | Carboxylic acids | $193.3 million | +0.8% |
| 146 | Vulcanized rubber items | $191 million | +12% |
| 147 | Coffee/tea extracts, concentrates | $190.2 million | +5.7% |
| 148 | Millstones, grindstones, grind wheels | $186.7 million | +5.3% |
| 149 | Uncoated paper | $186.1 million | +23.2% |
| 150 | Base metal mountings, fittings | $185.2 million | +3.1% |
| 151 | Coins | $184 million | +15457.6% |
| 152 | Ball, roller bearings | $183 million | +14.8% |
| 153 | Miscellaneous printed matter | $181.1 million | -18.7% |
| 154 | Coated paper | $178.2 million | +16.8% |
| 155 | Miscellaneous engines, motors | $178.2 million | +19.5% |
| 156 | Brooms, brushes | $177 million | +0.1% |
| 157 | Women's coats, jackets (not knit or crochet) | $175.6 million | +16.8% |
| 158 | Metal-casting machines | $175.2 million | +3.5% |
| 159 | Sugar confectionery (no cocoa) | $173.3 million | +1.7% |
| 160 | Bridge parts, structures | $172 million | +23.2% |
| 161 | Trucks | $170.2 million | +3% |
| 162 | Other diagnostic/lab reagents | $169.1 million | +9.2% |
| 163 | Miscellaneous aluminum items | $167.7 million | -3.4% |
| 164 | Amine-function compounds | $167.2 million | +3.9% |
| 165 | Newsprint (rolls or sheets) | $158.5 million | -24.8% |
| 166 | Magnets including electro-magnets | $157.7 million | -1.6% |
| 167 | Saturated acyclic mono acids | $156.5 million | +10.9% |
| 168 | Iron or steel pipe fittings | $155.8 million | -20.3% |
| 169 | Knives with cut blades | $155.4 million | +2.9% |
| 170 | Clean/sort/grading machines for seeds | $149.6 million | -12.4% |
| 171 | Bread, biscuits, cakes, pastries | $149 million | +4.9% |
| 172 | Watch cases | $147.9 million | +16.6% |
| 173 | Bookbinding machinery | $143.8 million | -10.8% |
| 174 | Self-propelled railway/tram vehicles | $141.7 million | -73.2% |
| 175 | Stainless steel bars, rods | $141.6 million | +27.8% |
| 176 | Rubber accelerators, plasticizers | $141.6 million | +7.6% |
| 177 | Refrigerators, freezers | $140.3 million | +17.2% |
| 178 | Self-adhesive plastic in rolls | $140.3 million | +7.6% |
| 179 | Pulp making/paper finishing machines | $140.2 million | +17.3% |
| 180 | Radar, radio communication items | $139.4 million | -31.3% |
| 181 | Organo-sulphur compounds | $139.2 million | -46.3% |
| 182 | Woven cotton fabrics | $136.4 million | +4.9% |
| 183 | Vegetable saps, extracts | $135.5 million | +24.9% |
| 184 | Wood/other ligneous fiberboard | $134.2 million | +0.8% |
| 185 | Wine | $131.4 million | +1.5% |
| 186 | Artificial abrasive powder, grain | $130.8 million | -24.2% |
| 187 | Lamps, lighting, illuminated signs | $130.7 million | +0.3% |
| 188 | Iron or steel springs, leaves | $130.2 million | +7.5% |
| 189 | TV/radio/radar device parts | $130.1 million | -11% |
| 190 | Other machinery, equipment | $127.9 million | -2.7% |
| 191 | Electric storage batteries | $127.6 million | -1.5% |
| 192 | Sauces, mixed condiments, seasonings | $127.4 million | -6.5% |
| 193 | Machine knives, blades | $126.3 million | +11.9% |
| 194 | Sort/screen/washing machinery | $123.8 million | -24.5% |
| 195 | TV receiver/transmit/digital cameras | $123.2 million | -0.1% |
| 196 | Other glass articles | $121.3 million | +2.8% |
| 197 | Vinyl acetate polymers | $120.7 million | +14.3% |
| 198 | Computer parts, accessories | $120 million | -10.2% |
| 199 | Drill/boring machines | $119.7 million | -13.7% |
| 200 | Armored vehicles, tanks | $119.1 million | +238.4% |
These 200 exported goods were worth a subtotal of US$287.9 billion or 92.7% by value for all products exported from Switzerland during 2018.
Switzerland’s capital city is Bern.
In macroeconomic terms, Switzerland’s total exported goods represent 56.6% of its overall Gross Domestic Product for 2018 ($548.5 billion valued in Purchasing Power Parity US dollars). That 56.6% for exports to overall GDP in PPP for 2018 compares to 64.6% for 2014, seeming to indicate a relatively decreasing reliance on products sold on international markets for Switzerland’s total economic performance. And while this article focuses on exported goods, it is interesting to note that Switzerland also provided $124.3 billion worth of exports-related services to global customers for an additional 22.7% of GDP in PPP. These metrics include a significant amount of re-exporting activity.
Another key indicator of a country’s economic performance is its unemployment rate. Switzerland’s unemployment rate was 2.1% at September 2019 down from 2.3% one year earlier, according to Trading Economics.
See also Switzerland’s Top Trading Partners, Switzerland’s Top 10 Imports and Switzerland’s Top 10 Major Export Companies
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on November 4, 2019
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on November 4, 2019
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on November 4, 2019
International Trade Centre, Trade Map. Accessed on November 4, 2019
Investopedia, Net Exports Definition. Accessed on November 4, 2019
Wikipedia, Gross domestic product. Accessed on November 4, 2019
Wikipedia, List of Companies of Switzerland. Accessed on November 4, 2019
Wikipedia, Purchasing power parity. Accessed on November 4, 2019
Zepol’s company summary highlights by country. Accessed on November 4, 2019