Switzerland

Switzerland ranked No. 8 in total trade value through August with a total of $65.97 billion. Exports totaled $10.73 billion and Imports totaled $55.24 billion, a deficit of $44.5 billion.

U.S. trade with Switzerland rose to $65.97 billion through August

Switzerland’s trade with the United States rose to $65.97 billion through the first eight months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 63.33 percent above its total trade during the same time period last year. U.S. exports to Switzerland decreased 9.33 percent while U.S. imports from Switzerland rose 93.45 percent. The U.S. deficit with Switzerland was $44.5 billion.

Through August, the top five among the nation’s airports, seaports and border crossings were No. 1 John F. Kennedy International Airport; No. 2 Port of Newark; No. 3 Chicago O’Hare International Airport; 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 Port of Newark; No. 3 Chicago O’Hare International Airport; No. 4 Port of New Orleans and No. 5 Los Angeles International Airport. In the current time period, the top five accounted for 82.1 percent of Switzerland’s U.S. trade.

Among those top five:

  • Trade with No. 1 John F. Kennedy International Airport rose 246.36 percent to $36.03 billion.
    Exports fell 1.38 percent to $5.23 billion. Imports rose 503.69 percent to $30.81 billion.
  • Trade with No. 2 Port of Newark rose 14.05 percent to $7.43 billion.
    Exports rose 134.29 percent to $384.49 million. Imports rose 10.94 percent to $7.05 billion.
  • Trade with No. 3 Chicago O’Hare International Airport rose 18.97 percent to $7.39 billion.
    Exports fell 1.05 percent to $331.22 million. Imports rose 20.11 percent to $7.06 billion.
  • Trade with No. 4 Port of New Orleans rose 18.23 percent to $2.13 billion.
    Exports fell 12.71 percent to $485.64 million. Imports rose 32.04 percent to $1.65 billion.
  • Trade with No. 5 Los Angeles International Airport fell 9.97 percent to $1.17 billion.
    Exports fell 7.6 percent to $567.32 million. Imports fell 12.08 percent to $605.8 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 $2.4 trillion, down 13.21 percent compared to the same period last year. The nation’s exports dropped 16.18 percent to $917.89 billion; imports dropped 11.26 percent to $1.48 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $564.57 billion, down compared to the same period of last year when the deficit was $575.47 billion.

The top five U.S. exports to Switzerland by value through August 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 54.33 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 75.68 percent of all inbound shipments.

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

  • Gold rose 108.91 percent compared to last year to $3.08 billion.
  • Plasma, vaccines, blood rose 0.58 percent compared to last year to $1.02 billion.
  • Unwrought platinum in various forms rose 71.03 percent compared to last year to $688.02 million.
  • Paintings, drawings and other artwork fell 46.52 percent compared to last year to $575.84 million.
  • Civilian aircraft, parts fell 31.2 percent compared to last year to $464.09 million.

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

  • Gold rose 5342.26 percent compared to last year to $12.9 billion.
  • Articles with precious metals rose 6642.37 percent compared to last year to $11.64 billion.
  • Medicines in individual dosages rose 14.81 percent compared to last year to $9.77 billion.
  • Returned exports, without change rose 6.61 percent compared to last year to $4.82 billion.
  • Plasma, vaccines, blood rose 32.34 percent compared to last year to $2.02 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.