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. The findings indicating that the country's export-dependent economy has weathered a currency market shock that sent the Swiss franc soaring. The total surplus for the 4 first months in 2013 was 7.7 billion CHF, about 1.2% of GDP, annualized around 4%. This surplus amounted in 1999 to US$18.7 billion or 7.5 percent of GDP. (RTTNews) - Switzerland's foreign trade surplus increased in November, figures from the Federal Customs Administration showed Thursday. Switzerland is currently our 16th largest goods trading partner with $62.5 billion in total (two way) goods trade during 2019. Switzerland belongs to those countries where the share of foreign trade in gross domestic product (GDP) is highest. Discover more about trade surplus'. The trade surplus … Economists use the Trade Balance to evaluate the structure of trade flows between countries. Trade with Swiss Bank. The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019. Foreign trade is an important pillar of the Swiss economy. Services exports were $46.8 billion; services imports were $25.0 billion. It is an indication of high production level. a trade surplus … 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. That figure represents roughly 1.6% of overall global exports for 2018 estimated at $19.285 trillion. Download historical data for 20 million indicators using your browser. That dollar amount represents a 15.8% increase from $31.9 billion in black ink for 2018. Among key trade partners, exports decreased to China and the US, but rose to the EU and the UK. If the demand for the Swiss franc rises, it will appreciate relative to the euro, unless the central banks intervene to stabilize the exchange rate, and will create a balance-of-payments deficit for Germany. September's trade surplus was the highest in Switzerland since at least 1987, according to the latest trade figures from the Federal Customs Office. Considering the first ten months of the year, the trade surplus widened to CHF 28.4 billion from CHF 21.2 billion in the same period of 2019. Switzerland's trade surplus declined slightly to CHF 2.6 billion in July 2020 from a downwardly revised CHF 2.7 billion in the previous month amid the coronavirus pandemic. Exports to the U.S. market have doubled since 2011. With the increase in textile production and the modernization of spinning techniques, Switzerland soon began exporting surplus textiles. Meanwhile, imports dropped 3.3 percent to CHF 14.9 billion led by chemical & pharmaceutical products, vehicles, food and beverages, and precision instruments. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. 2020 : U.S. trade in goods with Switzerland . Considering the first eight months of the year, the trade surplus widened to CHF 23.4 billion from CHF 15.9 billion in the same period of 2019. The trade in goods balance between the EU Member States and Switzerland is shown in Table 1c. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. In 2018 Switzerland was the number 20 economy in the world in terms of GDP (current US$), 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). 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. The Treasury cited Switzerland’s large bilateral goods trade surplus with the United States as well as its overall current account surplus. February's international trade resulted in a surplus of CHF2. 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. 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. 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. Switzerland - International trade International trade has long been the key to prosperity in Switzerland. U.S. total exports of agricultural products to Switzerland totaled $393 million in 2019. U.S. goods and services trade with Switzerland totaled an estimated $134.4 billion in 2019. U.S. direct investment in Switzerland is led by nonbank holding companies, manufacturing, and finance and insurance. While pharmaceuticals, chemicals, and automobiles led the drop, there were improvements in sales of machines, electronics, precision instruments, and metals. Tuesday, 24 April 2012 02:42 . 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. Technology and IIoT 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). Meanwhile, imports rose at a faster 2.5 percent boosted by purchases of chemical & pharmaceutical products, vehicles, metals, and precision instruments. ZURICH — Switzerland widened its current account surplus to 86 billion Swiss francs ($87.15 billion) during 2019, the Swiss National Bank said on Monday, an increase of 29 billion francs from a year earlier. The Treasury cited Switzerland’s large bilateral goods trade surplus with the United States as well as its overall current account surplus. In 2019, Switzerland's trade balance - the value of goods exported minus the value of goods imported - showed a surplus … 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. With an export surplus of 37 billion Swiss francs (2019), the country generates the bulk of its wealth by exporting its goods and services. Switzerland has a budget surplus. Article Sidebar. 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. 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. Sep 22, 2020. Story continues below. The services surplus dhrank sharply to CHF 3 billion from CHF 6.6 billion. 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. U.S. goods exports to Switzerland in 2019 were $17.9 billion, down 19.3% ($4.3 billion) from 2018 but up 2.2% from 2009. Home News Swiss trade surplus rises. a trade surplus means that there is a net inflow of capital . Switzerland had a total export of 310,524,275.09 in thousands of US$ 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 … For the 24 hours to 23:00 GMT, the USD declined 0.67% against the CHF and closed at 0.9327. 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 down from the EU, Japan and the US, but were up from China and the UK. Trade in services with Switzerland (exports and imports) totaled an estimated $71.9 billion in 2019. 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. Switzerland News. 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. A trade deficit is formed when more goods and services are imported than exported. U.S. total imports of agricultural products from Switzerland totaled $1.4 billion in 2019, our 23th largest supplier of agricultural imports. According to WTO data, in 2018, Switzerland's exports amounted to USD 310.7 billion while imports amounted to USD 279.5 billion. Switzerland has a large trade surplus. A second reason for the Swiss trade deficit with the Europeans is that many companies base their global distribution in Switzerland but the products were imported first from other European countries, like Italy or Germany, the so-called transit trade or merchandising. Published on May 29, 2009. The following types of Swiss product shipments represent positive net exports or a trade balance surplus. Switzerland had a total export of 310,524,275.09 in thousands of US$ 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 … Airbus Exploring Hydrogen-Powered Aircraft for 2035. 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. For the 24 hours to 23:00 GMT, the USD rose 0.2% against the CHF and closed at 0.9886. Trade Balance. The U.S. services trade surplus with Switzerland was $21.8 billion 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. Adopting a continental lens, 51.6% of Swiss exports by value in 2019 were delivered to fellow European countries while 28.6% were sold to Asian importers. Switzerland typically runs a deficit in bilateral services trade, although 2019 data have not yet been released. Among key trade partners, exports declined to the Euro Area, the US, Japan, Singapore, Hong Kong and the Middle East. Open Multi-Currency Account (MCA) Open Demo FX Account Open Live FX Account English 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. Tuesday, 24 April 2012 02:42. 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). This statistic shows the 20 countries with the highest trade surplus worldwide in 2019. 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. a trade surplus exists if there is a net inflow of capital excluding foreign borrowing and lending . Among key trade partners, exports were up to the UK, the US, Japan, Hong Kong and the Middle East. Swiss trade surplus with Germany. Publish your articles and forecasts in our website. Traditionally, its merchandise trade deficit has been generously compensated by a surplus trade in services. Switzerland recorded a Government Budget surplus equal to 1.50 percent of the country's Gross Domestic Product in 2019. Imports were up from the Euro Area, Japan, Singapore, but were down from China, the US, and the UK. Due to Switzerland being strict with their food regulations, many trading countries have to adapt their products to fit in with European guidelines. Exports to the US market have doubled since 2011. Overall, Switzerland posted a $36.9 billion trade surplus for 2019. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Discover more about trade surplus'. Switzerland Trade Balance recorded a surplus of 3.3 USD bn in Oct 2020, compared with a surplus of 1.6 USD bn in the previous month. Exports were $64.7 billion; imports were $69.7 billion. Switzerland Trade Surplus Falls In February | Financial News 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. 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. Details may not equal totals due to rounding. The Trading Economics Application Programming Interface (API) provides direct access to our data. Swiss trade surplus rises. The U.S. goods and services trade deficit with Switzerland was $5.0 billion in 2019. The Treasury cited Switzerland's large bilateral goods trade surplus with the United States as well as its overall current account surplus. 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. This page provides - Switzerland Government Budget - actual values, … A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. 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. Among key trade partners, exports were up to the Euro Area, the US, China, Japan, Singapore, Hong Kong and the Middle East. The Swiss trade surplus increased to a 3-month high in January, data from the Federal Customs Administration showed Thursday. The Swiss global transit trade . 1950-2020 Data | 2021-2022 Forecast | Calendar. For the 24 hours to 23:00 GMT, the USD declined 0.80% against the CHF and closed at 0.9072. (Source: IMF). U.S. goods imports from Switzerland totaled $44.6 billion in 2019, up 8.6% ($3.6 billion) from 2018, and up 178.1% from 2009. 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. Switzerland’s trade surplus is affected by imported gold from Asia, and reduced demand for luxury Swiss watches. Between 2008 and 2018, the EU ran a trade surplus with Switzerland (meaning that it exported more than it imported). The U.S. goods trade deficit with Switzerland was $26.7 billion in 2019. Switzerland also meets the other two criteria, by having a bilateral goods surplus of more than $20 billion and a current account of surplus of more than 2%. Switzerland ran a 27.65 billion franc surplus last year, up from 25.38 billion in 2018 and 21.08 billion in 2017. The trade surplus rose to CHF 3. The U.S. services trade surplus with Switzerland was $21.8 billion in 2019. For the 24 hours to 23:00 GMT, the USD declined 0.67% against the CHF and closed at 0.9327. The largest surplus was held by Italy (EUR 15 086 million), followed by Germany (EUR 13 618 million) and Ireland (EUR 3 477 million). 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. 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. Switzerland has been a member of the World Trade Organization since July 1995. In 2019, China was the country with the highest trade surplus with approximately 421.9 billion U.S. dollars. Swiss exports are mostly luxury products and pharmaceuticals. Switzerland posts trade surplus of 36.6 billion Swiss francs ($36.1bn, 33bn euros) in 2015 despite declines in exports. That positive balance represents a 15.8% increase from $31.9 billion in black ink one year earlier. The main partners in the cross-border trade of goods are the industrialised countries; the EU is particularly important. 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. The increase was mainly due to an increase in labor and investment income, the SNB said. 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. Glencore, with its basis near the tax paradise Zug, is the leader of the global … This statistic shows the trade balance of Switzerland from 2009 to 2019. Services exports were $46.8 billion; services imports were $25.0 billion. Table reflects only those months for which there was trade. Switzerland's direct investment in the U.S. is led by manufacturing, finance and insurance, and information services. 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. The main partners in the cross-border trade of goods are the industrialised countries; the EU is particularly important. Switzerland belongs to those countries where the share of foreign trade in gross domestic product (GDP) is highest. Contrary to its traditionally positive foreign trade balance, Switzerland accumulated a trade deficit of nearly US$554 million in the first 9 months of 2000, compared to more than a US$1 billion surplus for the same period of 1998. 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). Switzerland shipped US$314.1 billion worth of products around the globe in 2019. Switzerland Trade Balance shows the difference between the Switzerland exports and imports in monetary terms, in the reported month. Under the WTO, Switzerland is committed to lowering customs tariffs and to keep open services markets. Imports were down from the Euro Area, China, Singapore, but were up from the UK, Japan and the US. Switzerland's trade surplus remained broadly unchanged in February, and slightly exceeded economists' forecast, latest data showed Thursday. 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. Exports rely mostly on high-tech sectors, which are less dependent on the international economic situation than other industries. Advertisement. Switzerland’s exported goods totaled $208 billion during the first 8 months of 2020. 2020 : U.S. trade in goods with Switzerland . Exports increased 1.1 percent led by sales of machines & electronics, precision instruments, watches, metals, and food and beverages. 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