Trading Partner Portal: Switzerland
Overview
Trade Overview
Two-way trade between the United States and Switzerland was approximately $92.9 billion in 2021. The United States exported over $18 billion to Switzerland, making it the 17th largest export destination for the US. Exports consisted of $11.11 billion in primary metal manufacturing, $3.36 billion in chemicals and approximately $3.1 billion in manufactured commodities. Imports from Switzerland were $74.8 billion, with the top categories being chemicals, primary metals, reimports, and computer/electronic products. (US Department of Commerce)
Foreign Direct Investment
According to the Swiss Embassy in the United States, Switzerland is one of the largest investors in R&D in the US, with more than $9.6 billion invested in 2018. In 2021, the U.S. invested $216 billion into Switzerland, while Swiss investment in the U.S. reached $228.84 billion. Switzerland is the 8th largest source of FDI in the US in 2019. In 2018, Swiss FDI in the US supported 478,500 jobs and contributed $15.5 billion to expanding US exports. The top industry sectors for Swiss FDI in the US are: real estate, industrial equipment, software and IT services, financial services, food and beverages, and business services. (Select USA)
California – Switzerland Trade Relations
Swiss-owned companies create more jobs for California than any other state in the United States. Employment in California by Swiss-owned companies reached 61,000 in 2012, almost double the amount of any other state in the country. (Swiss Embassy)
In 2021, California was one of the top state exporters to Switzerland with over $1.4 billion. Switzerland is California’s 25th largest export destination. Chemicals were credited with $641 million. Computer and electronic products with $192 million. Second-hand merchandise held with $189 million. Miscellaneous manufactured commodities with $151 million. (US Department of Commerce)
In California, Switzerland was the sixth largest source of FDI through foreign-owned enterprises (FOEs) in 2021. In 2021, Swiss FOEs in California provided over 540,434 jobs through 717 firms amounting to $4.615 billion in wages. The top jobs by sector are: wholesale trade, other services, professional/business services, financial activities and manufacturing (World Trade Center Los Angeles FDI Report).
We Need a Free Trade Deal with Switzerland
The Heritage Foundation, August 8, 2018