Switzerland

Switzerland ranked No. 8 in total trade value through June with a total of $48.31 billion. Exports totaled $7.24 billion and Imports totaled $41.07 billion, a deficit of $33.83 billion.

U.S. trade with Switzerland rose to $48.31 billion through June

Switzerland’s trade with the United States rose to $48.31 billion through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 56.54 percent above its total trade during the same time period last year. U.S. exports to Switzerland decreased 23.24 percent while U.S. imports from Switzerland rose 91.66 percent. The U.S. deficit with Switzerland was $33.83 billion.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 John F. Kennedy International Airport; No. 2 Chicago O’Hare International Airport; No. 3 Port of Newark; No. 4 Port of New Orleans; and No. 5 Los Angeles International Airport. During the same period the previous year, the top five were No. 1 John F. Kennedy International Airport; No. 2 Chicago O’Hare International Airport; No. 3 Port of Newark; No. 4 Port of New Orleans and No. 5 Los Angeles International Airport. In the current time period, the top five accounted for 81.24 percent of Switzerland’s U.S. trade.

Among those top five:

  • Trade with No. 1 John F. Kennedy International Airport rose 217.07 percent to $26.54 billion.
    Exports fell 34.39 percent to $3.03 billion. Imports rose 525.92 percent to $23.52 billion.
  • Trade with No. 2 Chicago O’Hare International Airport rose 2.3 percent to $5.14 billion.
    Exports fell 6.32 percent to $235.17 million. Imports rose 2.76 percent to $4.91 billion.
  • Trade with No. 3 Port of Newark rose 5.47 percent to $5.03 billion.
    Exports rose 162.64 percent to $331.45 million. Imports rose 1.2 percent to $4.7 billion.
  • Trade with No. 4 Port of New Orleans rose 22.8 percent to $1.66 billion.
    Exports fell 7.36 percent to $367.75 million. Imports rose 35.34 percent to $1.29 billion.
  • Trade with No. 5 Los Angeles International Airport fell 13.41 percent to $868.31 million.
    Exports fell 26.76 percent to $364.68 million. Imports fell 0.24 percent to $503.63 million.

Switzerland ranked No. 8 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 16.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Switzerland by value through June were the categories of Gold; Plasma, vaccines, blood; Unwrought platinum in various forms; Paintings, drawings and other artwork; and Civilian aircraft, parts, respectively. They accounted for 50.41 percent of total exports to Switzerland.

The value of the top five categories of U.S. imports from Switzerland –– Gold; Articles with precious metals; Medicines in individual dosages; Returned exports, without change; and Plasma, vaccines, blood –– accounted for 76.76 percent of all inbound shipments.

Looking more closely at U.S. exports to Switzerland:

  • Gold rose 53.5 percent compared to last year to $1.76 billion.
  • Plasma, vaccines, blood fell 2.16 percent compared to last year to $745.32 million.
  • Unwrought platinum in various forms rose 33.87 percent compared to last year to $387.82 million.
  • Paintings, drawings and other artwork fell 58.45 percent compared to last year to $382.88 million.
  • Civilian aircraft, parts fell 24.49 percent compared to last year to $378.71 million.

Looking more closely at U.S. imports from Switzerland:

  • Gold rose 12737 percent compared to last year to $10.82 billion.
  • Articles with precious metals rose 5823.83 percent compared to last year to $8.15 billion.
  • Medicines in individual dosages rose 10.42 percent compared to last year to $6.83 billion.
  • Returned exports, without change fell 1.77 percent compared to last year to $3.61 billion.
  • Plasma, vaccines, blood rose 23.37 percent compared to last year to $1.45 billion.

In the latest annual figures available, Switzerland recorded $62.5 billion in trade with the United States. Total U.S. exports to Switzerland were $ 17.92 billion and imports from Switzerland were $44.58 billion. The U.S. deficit with Switzerland was $26.66 billion.