Trading Partner Portal: Switzerland

Overview

Trade Overview

Two-way trade between the United States and Switzerland was approximately $63.36 billion in 2017. The United States exported over $22.23 billion to Switzerland, making it the 18th largest export destination for the US. Exports consisted of $7.3 billion in primary metal manufacturing, $4.58 billion in manufactured commodities and approximately $2.7 billion in chemicals. Imports from Switzerland were $41.138 billion, with the top categories being chemicals, 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 $9.7 billion invested in 2016. In 2017, the U.S. invested $249.9 billion into Switzerland, while Swiss investment in the U.S. reached $309.3 billion. Switzerland is the 7th largest source of FDI in the US. Swiss FDI in the US supported 468,000 jobs and contributed $16.6 billion to expanding US exports. The top industry sectors for Swiss FDI in the US are: consumer products, industrial machinery, food and tobacco, financial services, software and IT services, 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 2018, California was one of the top state exporters to Switzerland with over $2 billion. California exports to Switzerland increased by over 25% from 2010. Switzerland is California’s 17th largest export destination.  Chemicals were credited with 43.4 percent of the total, worth $901 million. Miscellaneous manufactured commodities held 16.2 percent with $335 million. Second-hand merchandise held 9.1 percent with $189.5 million.  Computer and electronic products also held 9.1 percent with $189.2 million. (US Department of Commerce)

In Southern California, the number six country for FDI through foreign-owned enterprises (FOEs) is Switzerland. Swiss FOEs in Southern California provide over 24,000 jobs through over 350 firms. This amounts to $1.86 billion in wages.  The top sectors of Swiss FOEs are professional and business services, whole trade, other services, manufacturing, and financial activities. (LA Business Journal, V. 40 No. 21, 2018)

We Need a Free Trade Deal with Switzerland
The Heritage Foundation, August 8, 2018

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