Switzerland imported US$369.5 billion worth of products bought from suppliers around the world in 2024.

That dollar amount reflects a 27% increase compared to $291 billion five years prior during 2020.

Year over year, the overall cost that Switzerland paid for its imports slowed to a 0.9% gain from $366.3 billion spent in 2023.

Based on average exchange rates for 2024, the Swiss franc depreciated by -2% against the US dollar from 2023 to 2024. Switzerland’s weaker local currency made the Swiss Confederation’s imports paid for in stronger US dollars relatively more expensive when converted starting from the Swiss franc.

Domestically, Switzerland posted an average 1.253% inflation rate in 2024 specific to Swiss consumer prices down from average 2.134% for 2023.

Switzerland’s Best Import Suppliers

The latest available country-specific data shows that two-thirds (66.6%) of products imported into Switzerland was furnished by exporters in: Germany (18.4% of the Swiss total), Italy (8.2%), United States of America (7.9%), France (5.7%), Slovenia (5.51%), mainland China (5.5%), United Arab Emirates (3.5%), Austria (2.9%), United Kingdom (2.31%), Canada (2.3%), Spain (2.2%) and Japan (2.1%).

From a continental perspective, over half (55.8%) of Switzerland’s total imports by value in 2024 was purchased from fellow European countries. Trade partners in Asia supplied 23.5% of imports bought by Switzerland while another 11% worth originated from providers in North America.

Switzerland is not a member of the European Union due to its historical tradition of neutrality and sovereignty. Nevertheless, EU member states collected 52.8% of total Swiss spending on imports for 2024.

Smaller percentages came from Africa (5.2%), Latin America (3.2%) excluding Mexico but including the Caribbean, then Oceania (1.3%) led by Australia and New Zealand.

Given Switzerland’s population of 8.9 million people, its total $369.5 billion in 2024 imported goods translates to about $41,600 in yearly product demand from every person in the European country. That per-capita dollar amount outpaces the average $41,500 one year earlier in 2023.

Switzerland’s Top 10 Imports

The following product groups represent the highest dollar value in Switzerland’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Switzerland.

1. Gems, precious metals: US$124.1 billion (33.6% of total imports)
2. Pharmaceuticals: $67.7 billion (18.3%)
3. Machinery including computers: $22.5 billion (6.1%)
4. Vehicles: $19 billion (5.1%)
5. Electrical machinery, equipment: $17.2 billion (4.6%)
6. Mineral fuels including oil: $11.1 billion (3%)
7. Optical, technical, medical apparatus: $9.8 billion (2.7%)
8. Organic chemicals: $8.1 billion (2.2%)
9. Plastics, plastic articles: $7.6 billion (2.1%)
10. Furniture, bedding, lighting , signs, prefab buildings: $5.1 billion (1.4%)

Switzerland’s top 10 import product categories generated almost four-fifths (79.1%) of the overall value of its product purchases from other countries.

Pharmaceuticals achieved the fastest-growing increase in overall cost among the top 10 import categories, up 15.8% year over year.

Trailing that category were imported gems and precious metals (up 1.1% from 2023). Switzerland’s imports under the optical, technical and medical apparatus category was the remaining gainer via its 0.4% advance.

The severest decline was the -22.6% reduction from 2023 to 2024 for Swiss imports of mineral fuels including oil.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.

At the more detailed 4-digit HTS code level, Switzerland spent the most on imported gold (28.5% of Swiss total imports), medication mixes in dosage (12.9%), blood fractions including antisera (5.3%), cars (3.5%), jewelry (2.5%), processed petroleum oils (1.5%), computers including optical readers (1%), phone devices including smartphones (0.9%), electro-medical equipment (0.8%), then precious metal waste and scrap (0.7%).

Swiss Most Valuable Imported Gems and Precious Metals

In 2024, Swiss importers spent the most on the following 10 subcategories of gems and precious metals.

1. Gold (unwrought): US$105.3 billion (up 2.9% from 2023)
2. Jewelry: $9.1 billion (down -3.4%)
3. Precious metal waste, scrap: $2.7 billion (down -17.9%)
4. Platinum (unwrought): $2.2 billion (up 5.3%)
5. Diamonds (unmounted/unset): $1.7 billion (down -16.8%)
6. Silver (unwrought): $1.1 billion (down -12.2%)
7. Precious/semi-precious stones (unstrung): $886.4 million (up 2.1%)
8. Coins: $614.3 million (up 0.1%)
9. Imitation jewelry: $144.7 million (up 13.8%)
10. Natural pearl/precious stone items: $130.6 million (down -10.1%)

Among these import subcategories, Switzerland’s purchases of imitation jewelry (up 13.8%), unwrought platinum (up 5.3%) then unwrought gold (up 2.9%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported gems and precious metals among Swiss businesses and consumers.

Swiss Most Valuable Imported Pharmaceuticals Products

In 2024, Swiss importers spent the most on the following subcategories of pharmaceuticals.

1. Medication mixes in dosage: US$47.6 billion (up 18.5% from 2023)
2. Blood fractions (including antisera): $19.5 billion (up 11.1%)
3. Sutures, special pharmaceutical goods: $321 million (up 1.9%)
4. Medication mixes not in dosage: $217.2 million (down -42.8%)
5. Packaged dressings: $135 million (down -1.8%)
6. Dried organs, heparin: $37.9 million (up 16.6%)

Among these import subcategories, Switzerland’s purchases of medication mixes in dosage (up 18.5%), dried organs and heparin (up 16.6%), then blood fractions including antisera (up 11.1%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported pharmaceuticals among Swiss businesses and consumers.

Swiss Most Valuable Imported Machinery Products Including Computers

In 2024, Swiss importers spent the most on the following 10 subcategories of machinery including computers.

1. Computers, optical readers: US$3.8 billion (up 3.6% from 2023)
2. Miscellaneous machinery: $1.3 billion (down -0.1%)
3. Taps, valves, similar appliances: $1.2 billion (up 1.9%)
4. Turbo-jets: $1.1 billion (up 16.6%)
5. Centrifuges, filters and purifiers: $1.1 billion (up 5.8%)
6. Refrigerators, freezers: $841.7 million (down -19.6%)
7. Printing machinery: $837.8 million (down -1.5%)
8. Dishwashing, clean/dry/fill machines: $729.4 million (up 5.8%)
9. Temperature-change machines: $718.4 million (down -12.2%)
10. Air or vacuum pumps: $707.9 million (down -0.2%)

Among these import subcategories, Switzerland’s purchases of turbo-jets (up 16.6%), dishwashing and other cleaning, drying or filling machines (up 5.8%), then centrifuges, filters and purifiers (up 5.8%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Swiss businesses and consumers.

Swiss Most Valuable Imported Vehicles

In 2024, Swiss importers spent the most on the following 10 subcategories of vehicles.

1. Cars: US$12.8 billion (down -8.7% from 2023)
2. Trucks: $2 billion (up 2.8%)
3. Automobile parts/accessories: $1.5 billion (up 1.2%)
4. Motorcycles: $705.8 million (down -14%)
5. Tractors: $469 million (down -17.5%)
6. Trailers: $416.1 million (down -5.1%)
7. Motorcycle parts/accessories: $246 million (down -23%)
8. Special purpose vehicles: $243.1 million (down -7.3%)
9. Bicycles, other non-motorized cycles: $228.7 million (down -7.1%)
10. Public-transport vehicles: $179.9 million (down -31.3%)

Among these import subcategories, Switzerland’s purchases of trucks (up 2.8%) and automobile parts or accessories (up 1.2%) grew from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Swiss businesses and consumers.
 

See also Switzerland’s Top Trading Partners, Switzerland’s Top 10 Exports and Switzerland’s Top 10 Major Export Companies

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 15, 2025

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on April 15, 2025

International Trade Centre, Trade Map. Accessed on April 15, 2025

X-rates.com, Exchange Rates: US Dollar to Swiss Franc (monthly average 2024). Accessed on April 15, 2025