Chemicals and pharmaceuticals: the engine of Swiss exports
The year 2019 marks an all-time high in exports and imports. According to data from the Federal Customs Administration (FCA), Swiss exports rose by CHF 9.1 billion (+3.9%) and imports by CHF 3.1 billion (+1.6%).
With an export volume of CHF 242.3 billion and imports of CHF 205 billion, Switzerland's foreign trade is flourishing as never before. The increase affects both directions of trade and has now continued for four consecutive years.
The chemical-pharmaceutical industry closes the financial year as the driver of Swiss exports with a positive balance of CHF 61.9 billion. The industry's exports increased by CHF 10.2 billion in 2019, up 9.8% on the previous year. Immunological products (+5.8 billion) and medicines (+3.1 billion) account for the bulk of this increase.
The excellent results of exports of chemical-pharmaceutical products are the main reason for the record surplus in the trade balance. This amounts to CHF 37.7 billion, an increase of 18.79% compared to 2018.
Despite a solid increase, the watch industry (+500 million) and precision instruments (+203 million) show slower growth compared to previous financial years. The machinery and electronics sector (-4.4%) and the metals industry (-5.7%) are now showing an unprecedented decline after three years of growth.
In the case of imports, the increase is also due to the good results of the chemical-pharmaceutical sector with its growth of CHF 2.5 billion. The sector has been experiencing continuous growth since 2015. The costume jewellery and jewellery products sector is also on the up (+3.3%).
