Swiss Trade Monitor - 4th 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 fourth edition of 2024 sheds light on the all quarters of the year for goods trade and the first three quarters for services trade. Here are key observations:

- Switzerland's foreign goods trade in 2024 was about one percent higher than in 2023. Exports grew 3.2 percent while imports fell 1.6 percent.

- In a year-over-year comparison, chemicals and pharma exports stand out with high growth in Q4. In contrast, imports of vehicles continue a negative trend.

- Among trade partners, Slovenia again stands out. Both exports and imports still grow at outstanding rates. Exports to both China and the US are growing in a year-over-year comparison.

- Exports and imports of services in Q3 of 2024 were higher than in 2023 with growth rates of 5 and 9 percent, respectively.

- Growth in Swiss services imports is driven by several countries and transportation services in particular. Meanwhile, exports of services related to information and communication technologies continue to grow strongly.