(04.05.2022) Business for Swiss exporters is booming across the Atlantic. According to the Federal Office for Customs and Border Security (FOCS), Swiss exports to the US reached CHF 47 billion in 2021.
The United States has replaced Germany as Switzerland's most important export partner for the first time in 70 years. Swiss exports to the US market grew by an annual average of 6.3% between 2001 and 2021. This is three times the growth rate of neighboring Germany (+2.1%) and Italy (+2%). The FOCBS points out that this is a record for the past two decades that have been marked by the 2008 financial crisis and the COVID-19 pandemic.
These outstanding results are largely due to chemical and pharmaceutical products, which account for three-quarters of the increase in Swiss exports to the USA. Between 2001 and 2021, sales to the US from this sector rose from CHF 4.3 billion to CHF 30.1 billion. With a 10% increase each year, this growth is twice as high as that of the rest of the world.
The sectors with the second-highest volumes to the US in 2021 are machinery and electronics (CHF 3.9 billion), precision instruments (CHF 3.6 billion), watches (CHF 3.1 billion), and food, beverages, and tobacco (CHF 1.7 billion).
Last modification 04.05.2022