Switzerland

 

About
Switzerland is in central Europe, but it is not a member of the European Union (2;3). Switzerland is a multilingual state with four national languages: German, French, Italian, and Rhaeto-Romance (3). Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production (1).

Switzerland’s natural resources include hydropower potential, timber and salt (2).

Switzerland economy is structured as followed (in % of GDP): services 73.7%, industry 25.6% and agriculture 0.7% (2017) (10).

Switzerland’s agriculture products include grains, fruits, vegetables, meat, eggs, crops, potatoes, sugar, beets, wheat, barley, maize, oats, and rye (2;3). Switzerland’s industries include machinery, chemicals, wine, watches, clock, textiles, precision instruments, nonmetallic minerals, plastics, tourism, banking and insurance (1).

Switzerland’s top exports commodities include gems, precious metals, pharmaceuticals, machinery including computers, clocks, watches including parts, organic chemicals, optical, technical, medical apparatus, electrical machinery, equipment, plastics, plastic articles, perfumes, cosmetics, articles of iron or steel (11). Its top imports commodities include gems, precious metals, pharmaceuticals, vehicles, electrical machinery, equipment, organic chemicals, mineral fuels including oil, optical, technical, medical apparatus, plastics, plastic articles, furniture, bedding, lighting, signs, and prefab buildings (12).

 Switzerland’s main port is Basel (1).


Trade Statistics
Switzerland is the United States' 15th largest goods trading partner with $63.4 billion in total goods trade during 2018 (4). In 2018, Switzerland was the United States' 18th largest goods exports trade partner and 14th largest goods imports partner (5). Switzerland owns 30 companies in Tampa Bay, about 7% of the Tampa Foreign Owned Companies (8).


Trade Numbers

  • United States’ goods and private services trade with Switzerland in 2017: $121.9 billion (4)

  • U.S. goods imports from Switzerland totaled $41.1 billion in 2018, up 14.3% ($5.1 billion) from 2017 (4)

  • U.S. goods exports to Switzerland in 2018 were $22.2 billion, up 2.5% ($546 million) from 2017 (4)

Export Companies
Switzerland owns 30 companies in Tampa Bay (8).

 
Keir Magoulas