Flag Switzerland

Econ Complexity (2018): 2.01, Rank 2 of 137

Product Exports (2018): $310B, Rank 18 of 222

Exports Per Capita (2018): $36.5k, Rank 111 of 219

Product Imports (2018): $294B, Rank 17 of 221

Imports Per Capita (2018): $34.5k, Rank 114 of 219

Service Exports (2017): $98.2B, Rank 12 of 117

Service Imports (2017): $75.9B, Rank 17 of 117

GDP (2018): $505B, CONST 2011 USD
Rank 37 of 188

GDP growth (2008 - 2018): 16.4%, CONST 2011 USD
Rank 138 of 188

GDP PC (2018): $59,317, CONST 2011 USD
Rank 10 of 188

GDP PC GROWTH (2008 - 2018): 4.51%, CONST 2011 USD
Rank 136 of 188

Overview: In 2018 Switzerland was the number 37 economy in the world in terms of GDP (constant 2011 international USD) and the number 2 most complex economy. In 2018, Switzerland exported $310B and imported $294B, resulting in a positive trade balance of $16.9B. In 2018, Switzerland's exports per capita were $36.5k and its imports per capita were $34.5k.

Trade: The top exports of Switzerland are Gold ($63.8B), Packaged Medicaments ($44.1B), Blood, antisera, vaccines, toxins and cultures ($28B), Base Metal Watches ($13.7B), and Jewellery ($11.1B). The top imports of Switzerland are Gold ($64.9B), Packaged Medicaments ($19B), Jewellery ($15.9B), Cars ($10.3B), and Blood, antisera, vaccines, toxins and cultures ($9.9B).

Destinations: Switzerland exports mostly to Germany ($47.9B), United States ($39.7B), China ($30.4B), France ($19.2B), and India ($18.4B), and imports mostly from Germany ($62.2B), United Kingdom ($26.3B), Italy ($23.8B), United States ($21.4B), and France ($18.8B).

Location: Switzerland borders Austria, France, Italy, and Germany by land.

Product Exports

#permalink to section
Depth
Value

Top Export (2018): Gold, $63.8B

Top Destination (2018): Germany, $47.9B

In 2018 Switzerland exported a total of $310B, making it the number 18 exporter in the world. During the last five years the exports of Switzerland have changed by -$34.4B from $345B in 2013 to $310B in 2018.

The most recent exports are led by Gold ($63.8B), Packaged Medicaments ($44.1B), Blood, antisera, vaccines, toxins and cultures ($28B), Base Metal Watches ($13.7B), and Jewellery ($11.1B). The most common destination for the exports of Switzerland are Germany ($47.9B), United States ($39.7B), China ($30.4B), France ($19.2B), and India ($18.4B).

Explore Visualizations

Product Imports

#permalink to section
Depth
Value

Top Import (2018): Gold, $64.9B

Top Origin (2018): Germany, $62.2B

In 2018 Switzerland imported $294B, making it the number 17 trade destination in the world. During the last five years the imports of Switzerland changed by $19.8B from $274B in 2013 to $294B in 2018.

The most recent imports of Switzerland are led by Gold ($64.9B), Packaged Medicaments ($19B), Jewellery ($15.9B), Cars ($10.3B), and Blood, antisera, vaccines, toxins and cultures ($9.9B). The most common import partners for Switzerland are Germany ($62.2B), United Kingdom ($26.3B), Italy ($23.8B), United States ($21.4B), and France ($18.8B).

Explore Visualizations

Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Between 2017 and 2018, the exports of Switzerland grew the fastest in United States ($11.4B), China ($4.24B), and France ($3.96B). Between 2017 and 2018, Switzerland imports from Germany ($7.57B), United Kingdom ($7B), and Italy ($3.1B) grew the fastest.

Switzerland Exports Services (2017): $98.2B

Switzerland Imports Services (2017): $75.9B

In 2017, Switzerland exported $98.2B worth of services. The top services exported by Switzerland in 2017 were N/A.

The top services imported by Switzerland in 2017 were Miscellaneous business, professional, and technical services ($21.3B), Travel ($15.3B), Computer and information services ($15.1B), Royalties and license fees ($10.3B), and Transportation ($8.91B).

Trade Predictions

#permalink to section

This section shows predictions for total product exports and imports for Switzerland. The Prediction is based in a Long-Short Term Memory Model constructed using yearly trade data.

Explore Predictions

Economic Complexity

#permalink to section

Economic Complexity Ranking

#permalink to section
Scale

During the last 20 years Switzerland's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨3rd to the 2nd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

Most Specialized Products by RCA Index

#permalink to section

Switzerland has a high level of specialization in Base Metal Watches (32.6), Precious Metal Watches (31.4), Hydrazine or Hydroxylamine Derivatives (23.5), Other Clocks and Watches (13.2), and Gold (12.4). Specialization is measured using RCA, an index that takes the ratio between Switzerland observed and expected exports in each product.

Most Complex Products by PCI

#permalink to section

The highest complexity exports of Switzerland according to the product complexity index (PCI) are Machining centre, single/multistation transfer machine (2.58), Cermets and articles thereof, waste or scrap (2.21), Machine-tools for shaping metals, nes (2.02), Machine-tools for non-mechanical removal of material (2.01), and Machines nes having individual functions (2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Switzerland according to the relatedness index, are Cobalt Ore (0.24), Artificial Textile Machinery (0.24), Nickel Sheets (0.23), X-Ray Equipment (0.23), and Tool Plates (0.23). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Switzerland is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

#permalink to section
Depth
Filter

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.