by Swiss exports – © Alan Stoddard | Dreamstime.com According to an analysis by the Swiss broadcaster RTS, Switzerland’s EU exports have declined in recent years. Over the first quarter of 2019, for the first time, exports to the US exceeded those to Germany by more than CHF 1 billion reaching CHF 15.7 billion. Exports to the US have risen from 8.3% to 16.3% of total Swiss exports over the last 30 years. Another Swiss export market on the rise is China, which has increased its share of Swiss exports from 3.2% to 7.8% over the last 30 years. In addition, the share of Switzerland’s exports to the EU has declined from 65.5% to 52.1% over the 30 years to 2018. The EU is still Switzerland’s most significant export
Topics:
Investec considers the following as important: 3) Swiss Markets and News, Featured, newsletter
This could be interesting, too:
Frank Shostak writes Assumptions in Economics and in the Real World
Conor Sanderson writes The Betrayal of Free Speech: Elon Musk Buckles to Government Censorship, Again
Nachrichten Ticker - www.finanzen.ch writes Bitcoin erstmals über 80.000 US-Dollar
Nachrichten Ticker - www.finanzen.ch writes Kraken kündigt eigene Blockchain ‘Ink’ an – Neue Ära für den Krypto-Markt?
Swiss exports – © Alan Stoddard | Dreamstime.com
According to an analysis by the Swiss broadcaster RTS, Switzerland’s EU exports have declined in recent years.
Over the first quarter of 2019, for the first time, exports to the US exceeded those to Germany by more than CHF 1 billion reaching CHF 15.7 billion. Exports to the US have risen from 8.3% to 16.3% of total Swiss exports over the last 30 years.
Another Swiss export market on the rise is China, which has increased its share of Swiss exports from 3.2% to 7.8% over the last 30 years.
In addition, the share of Switzerland’s exports to the EU has declined from 65.5% to 52.1% over the 30 years to 2018.
The EU is still Switzerland’s most significant export destination but not quite as significant as it once was.
According to Switzerland’s State Secretariat for Economic Affairs (SECO) the shift away from the EU market is partly explained by the eurozone crisis between 2010 and 2015 which reduced eurozone demand. This was coupled with a currency shift that made Swiss products more expensive, something that affected EU buyers more than other nations.
In addition, the recent boom in US pharma sales has helped boost Swiss exports to the US.
Tags: Featured,newsletter