
Based on average exchange rates for 2020, the Swiss franc appreciated by 4.7% against the US dollar since 2016 and increased by 5.5% from 2019 to 2020. Switzerland’s stronger local currency makes Switzerland’s imports paid for in weaker US dollars relatively less expensive when converted starting from the Swiss franc.
From a continental perspective, 56.3% of Switzerland’s total imports by value in 2020 were purchased from fellow European countries. Asian trade partners supplied 26.7% of imports bought by Switzerland while 8.2% worth originated from North America. Smaller percentages came from Africa (5%), Latin America (3%) excluding Mexico but including the Caribbean, then Oceania (0.7%) led by Australia.
Given Switzerland’s population of 8.6 million people, its total $291.1 billion in 2020 imported goods translates to roughly $33,700 in yearly product demand from every person in the European country.
Switzerland’s Top 10 Imports
Top 10
The following product groups represent the highest dollar value in Switzerland’s import purchases during 2020. Also shown is the percentage share each product category represents in terms of overall imports into Switzerland.
- Gems, precious metals: US$104.4 billion (35.9% of total imports)
- Pharmaceuticals: $38.9 billion (13.4%)
- Machinery including computers: $19.1 billion (6.6%)
- Vehicles: $15.2 billion (5.2%)
- Electrical machinery, equipment: $14.9 billion (5.1%)
- Optical, technical, medical apparatus: $8.2 billion (2.8%)
- Organic chemicals: $7.4 billion (2.5%)
- Plastics, plastic articles: $6.5 billion (2.2%)
- Mineral fuels including oil: $5.8 billion (2%)
- Furniture, bedding, lighting, signs, prefabricated buildings: $4.5 billion (1.6%)
Switzerland’s top 10 imports accounted for just over three-quarters (77.3%) of the overall value of its product purchases from other countries.
Pharmaceuticals achieved the fastest-growing increase in value among the top 10 import categories, up 23.2% year over year. Trailing that were gems and precious metals (up 20.7%) led by gold, then the Furniture, bedding, lighting, signs and prefabricated buildings category (up 2.6%).
Leading the decliners was the organic chemicals category thanks to its -44.6% setback year over year.
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.
Precious
In 2020, Swiss importers spent the most on the following 10 subcategories of gems and precious metals.
- Gold (unwrought): US$87.9 billion (up 44.8% from 2019)
- Jewelry: $7.8 billion (down -52.5%)
- Platinum (unwrought): $3.1 billion (up 63.9%)
- Diamonds (unmounted/unset): $1.5 billion (down -37.9%)
- Goldsmith/silversmith wares: $1.2 billion (down -12.4%)
- Precious metal waste, scrap: $799.1 million (down -44.1%)
- Coins: $678.6 million (up 9.3%)
- Silver (unwrought): $646.8 million (up 51.1%)
- Precious/semi-precious stones (unstrung): $456.1 million (down -43.8%)
- Imitation jewelry: $107.7 million (down -17%)
Among these import subcategories, Switzerland’s purchases of platinum (up 63.9%), silver (up 51.1%) then gold (up 44.8%) grew at the fastest pace from 2019 to 2020.
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.
Pharma
In 2020, Swiss importers spent the most on the following subcategories of pharmaceuticals.
- Medication mixes in dosage: US$25.8 billion (up 22.7% from 2019)
- Blood fractions (including antisera): $12.4 billion (up 24.9%)
- Medication mixes not in dosage: $308.2 million (up 36.3%)
- Sutures, special pharmaceutical goods: $206.3 million (down -1.6%)
- Packaged dressings: $116.7 million (up 3.5%)
- Dried organs, heparin: $27.7 million (up 1.9%)
Among these import subcategories, Switzerland’s purchases of medication mixes not in dosage (up 36.3%), blood fractions including antisera (up 24.9%) then medication mixes in dosage (up 22.7%) grew at the fastest pace from 2019 to 2020.
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.
Machinery
In 2020, Swiss importers spent the most on the following 10 subcategories of machinery including computers.
- Computers, optical readers: US$3.5 billion (up 3.7% from 2019)
- Miscellaneous machinery: $1 billion (down -5.9%)
- Taps, valves, similar appliances: $1 billion (up 4.2%)
- Centrifuges, filters and purifiers: $843.1 million (up 10.6%)
- Turbo-jets: $812.9 million (down -20.3%)
- Printing machinery: $811.4 million (down -6.7%)
- Refrigerators, freezers: $674.3 million (up 6.8%)
- Temperature-change machines: $649.9 million (up 6%)
- Dishwashing, clean/dry/fill machines: $592.1 million (up 3.4%)
- Lifting/loading machinery: $564.1 million (down -8.1%)
Among these import subcategories, Switzerland’s purchases of centrifuges, filters and purifiers (up 10.6%), refrigerators and freezers (up 6.8%) then temperature-change machines (up 6%) grew at the fastest pace from 2019 to 2020.
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.
Vehicles
In 2020, Swiss importers spent the most on the following 10 subcategories of vehicles.
- Cars: US$10.2 billion (down -7.2% from 2019)
- Trucks: $1.2 billion (down -16.1%)
- Automobile parts/accessories: $1.2 billion (down -0.4%)
- Motorcycles: $715.2 million (up 31.6%)
- Tractors: $397.3 million (up 0.04%)
- Trailers: $363.8 million (down -0.8%)
- Motorcycle parts/accessories: $310.9 million (up 16.1%)
- Public-transport vehicles: $224.7 million (up 9.7%)
- Bicycles, other non-motorized cycles: $204.2 million (up 17%)
- Special purpose vehicles: $200.6 million (down -12.1%)
Among these import subcategories, Switzerland’s purchases of motorcycles (up 31.6%), bicycles, other non-motorized cycles (up 17%) then motorcycle parts or accessories (up 16.1%) grew at the fastest pace from 2019 to 2020.
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 February 15, 2021
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on February 15, 2021
International Trade Centre, Trade Map. Accessed on February 15, 2021