Import and Export in Switzerland
Featuring one of the worlds most stable economies, Switzerland has emerged as a haven and a hub for some of the worlds largest businesses to set up operations.
Switzerland is famous for its exportation of luxury products and accessories like high-end watches as well as clocks. On top of this, Switzerland is also well-known around the world and in Western nations for its famous chocolates, cheese and other agricultural and food products.
One of Switzerland’s main and most valuable trading partners is Germany, an importer of a vast amount of Swiss products. Following Germany is the United States, France, Italy and Austria. Outside of Europe and the US, Switzerland largest trade partners are Japan, India and China.
Switzerland’s leading exports are almost entirely luxury and high-priced products like medical products, watches as well as luxury jewels and gold.
Unexpectedly, some of Switzerland world renowned exports create some of the smallest income streams for the country. These are things like chocolate, cheese and wine.
As a small country with a limited amount of mineral deposits and other natural resources, Switzerland must rely on other nations for these resources. Switzerland imports a number of mineral resources to further refine them and then export them back to the countries who originally supplied them. A number of commercial agriculture products and machinery are made in Switzerland, though, the country cannot currently keep up with its demand so it is forced to import a number of agricultural products.
The largest number of imports into Switzerland are as follows: Cars, machinery, agricultural products, chemicals and metals. As stated previously, Germany is Switzerland’s leading import nation, followed by Italy, France, the US and Asian nations like China and Japan.
With such a minuscule domestic market for products made in Switzerland, the country relies on international markets to sell its products. This is one of the reasons Switzerland is such a haven for investment, as businesses can be developed to sell back to their original home countries with a lower tax rate.
Trading with Switzerland
A member of the World Trade Organisation makes Switzerland a key nation for the EU to partner with in regards to trade, over other non-euro nations. Switzerland’s stability and economic strength make it a profitable and beneficial trading partner for the European Union.
All trade relations with Swiss companies and the nation itself and the EU are regulated and monitored by the Free Trade Agreement and a number of other bilateral agreements to ensure benefits are equal on both sides. Switzerland has an incredibly attractive import policy and implements low import duties and quotas.
We have more information regarding Swiss trade on our website as well as a number of articles on the development of Swiss companies and laws and regulations within Switzerland regarding taxation and other business operations.
You should also feel free to contact our consultants for more specialised information on trading within Switzerland.