Switzerland: a look at the market

Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north and Austria and Liechtenstein to the east. Switzerland is geographically divided among the Swiss Plateau, the Alps and the Jura; the Alps occupy the greater part of the territory, whereas most of the country's population of 9 million are concentrated on the plateau, which hosts the largest cities and economic centres.

 

About economy

 

In 2021, Switzerland was the number 20 economy in the world in terms of GDP (current US$), the number 17 in total exports, the number 20 in total imports, the number 6 economy in terms of GDP per capita (current US$) and the number 2 most complex economy according to the Economic Complexity Index (ECI).

 

Exports

 

The top exports of Switzerland are Gold ($86.7B), Packaged Medicaments ($48.5B), Vaccines, blood, antisera, toxins and cultures ($40.3B), Base Metal Watches ($15.2B), and Nitrogen Heterocyclic Compounds ($14.6B), exporting mostly to Germany ($55.2B), United States ($51.1B), China ($33.1B), India ($31.8B), and France ($18.9B).

 

In 2021, Switzerland was the world's biggest exporter of Gold ($86.7B), Base Metal Watches ($15.2B), Precious Metal Watches ($8.97B), Documents of title (bonds etc) and unused stamps ($566M), and Hydrazine or Hydroxylamine Derivatives ($565M)

 

Imports

 

The top imports of Switzerland are Gold ($83.8B), Packaged Medicaments ($28.4B), Vaccines, blood, antisera, toxins and cultures ($11.2B), Cars ($10.2B), and Jewellery ($8B), importing mostly from Germany ($70B), Italy ($26.4B), United Kingdom ($25.7B), United States ($22.2B), and France ($19.4B).

  

In 2021, Switzerland was the world's biggest importer of Gold ($83.8B), Watch Straps ($608M), Other Clocks and Watches ($352M), Watch Cases and Parts ($349M), and Cereal traws ($72.1M)

 

Latest trends

 

Top Export (2021)           Gold  $86.7B

Top Destination (2021)  Germany $55.2B

 

In 2021, Switzerland exported a total of $371B, making it the number 17 exporter in the world. During the last five reported years the exports of Switzerland have changed by $67.3B from $303B in 2016 to $371B in 2021.

 

The most recent exports are led by Gold ($86.7B), Packaged Medicaments ($48.5B), Vaccines, blood, antisera, toxins and cultures ($40.3B), Base Metal Watches ($15.2B), and Nitrogen Heterocyclic Compounds ($14.6B). The most common destination for the exports of Switzerland are Germany ($55.2B), United States ($51.1B), China ($33.1B), India ($31.8B), and France ($18.9B).

 

Concerning Growth

 

FASTEST GROWING EXPORT MARKETS (2020 - 2021)

 

India     $19.9B (+ 166%)

China    $15.8B (+ 91.1%)

Germany   $6B (+ 12.2%)

 

FASTEST GROWING IMPORT MARKETS (2020 - 2021)

 

United Kingdom   $12.6B (+ 96.4%)

Germany   $7.1B (+ 11.3%)

France     $2.98B (+ 18.2%)

 

 

Source: CRIF -SkyMinder