(12.03.2025) Swiss exports of goods reached an all-time high in 2024, totaling 282.9 billion francs (+3.2%). However, the strong performance of the pharmaceutical sector stood in sharp contrast to declines across other industries, according to the Federal Office for Customs and Border Security (FOCBS).
Export growth was robust in the second and fourth quarters (+7.3% each), compensating for the third-quarter decline (-4.7%). For the full year, Switzerland’s trade balance posted a record surplus of 60.6 billion francs, an increase of 12 billion compared to 2023.
Despite this overall performance, only two of the eleven main export categories recorded growth in 2024. Chemical and pharmaceutical products surged by 10% (+13.6 billion francs). The industry's exports of raw materials alone doubled to 37.7 billion francs. By contrast, exports declined in the metals (-6.2%), jewelry (-4.5%), watchmaking (-2.8%), and machinery and electronics (-2.6%) sectors.
Imports also fell across most product categories, with the exception of chemical and pharmaceutical products, which grew by 8.5% (+5.9 billion francs). Energy imports saw a sharp decline of 23.8%, while machinery and electronics (-6.3%), vehicles (-6.7%), and metals (-7.4%) all posted significant drops. Overall, imports contracted by 1.6%.
Regarding trade partners, exports to Europe grew by 3.9%, driven by a sharp rise in trade with Slovenia (+68.3%). Exports to the United States also performed well (+7.9%). However, demand for Swiss products declined in neighboring countries: Germany (-2.1%), Italy (-3.8%), France (-5.3%), and Austria (-16.2%).
Imports contracted from all regions worldwide, with Asian imports down by 2.5 billion francs year-on-year.
Last modification 12.03.2025
