Swiss Trade Monitor - 3rd Quarterly Report 2024

The Quarterly Reports of the *Swiss Trade Monitor* document time trends in Switzerland's foreign goods and services trade of the most recent completed quarter. Not only are exports and imports considered in total, but these are broken down to provide a detailed analysis of Switzerland's trade development with its largest trading partners and most important product groups. Due to differences in data release schedules, the third edition of 2024 sheds light on the first three quarters of the year for goods trade and the first two quarters for services trade. Here are some key observations:

--- Switzerland's foreign goods trade in Q3 2024 was about 0.5 percent higher than in Q3 of 2023. Exports grew 1.5 percent while imports fell 0.8 percent.

--- Both on the export and import side, pharmaceutical products stand out for high values. In a year-over-year comparison, all major product categories other than pharma show declining import values.

--- Among trade partners, Slovenia again stands out. Both exports and imports still grow at outstanding rates.

--- Imports and exports of services in Q2 of 2024 were higher than in 2023 with growth rates of 6 and 8 percent, respectively.

--- Growth in Swiss services imports is mainly driven by the United States and transportation services while exports of ICT and tourism services are growing significantly.