Now showing 1 - 6 of 6
  • Publication
    Swiss Trade Monitor - 10 - China+0 Strategy - An indispensable Nation?
    ( 2024-02-21) ;
    Ronny Oberholzer
    ;
    Switzerland's imports from China constitute approximately 8% of its total imports, and over 5.5% of its exports go to China, indicating a significant but not primary trading partnership. For certain product categories, however, more than 50% of Switzerland's imports are sourced from China, particularly in telecommunications equipment and computing machinery, highlighting a heavy reliance on China for specific goods. Despite some growth in imports from alternative Asian countries (labeled "Altasia" and including Bangladesh, Brunei, Cambodia, India, Indonesia, Japan, Laos, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam), there is no systematic pattern of trade diversification away from China, with the share of Swiss imports from China remaining stable. The data suggest that China continues to be an indispensable trading partner for Switzerland, with any attempts at diversification not significantly reducing reliance on Chinese imports so far.
  • Publication
    Swiss Trade Monitor - 4th Quarterly Report 2023: Goods down Services up
    ( 2024-01-30) ;
    Ronny Oberholzer
    ;
    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 the trade development with Switzerland's largest trading partners. Due do differences in data release schedules, the fourth edition for 2023 sheds light on the forth quarter of the year for goods trade and the third quarter for services trade. Here are some key observations: -- Switzerland's foreign goods trade in 2023 was about 2.5 percent lower than in the previous year. Imports were almost four percent down, partially due to lower prices. Exports were 1.2 percent below 2022 levels. -- While pharma exports declined significantly, imports increased strongly to a new high. For other major product categories such as chemicals, machines, or manufactured goods both exports and imports are either plateauing or declining. -- While goods trade with nations such as Slovenia or Italy flourishes, volumes with key partners such as Germany, France, China, or Spain are declining. -- In contrast to the development observed with goods trade, the report shows that Swiss services trade is growing strongly - both on the export and import side. -- Swiss services exports and imports are thriving with basically all major partner countries. Tourism exports have recovered fully from the COVID-related dip while transportation services are booming for both trade directions.
  • Publication
    Swiss Trade Monitor - 09 - Abolishing Industrial Tariffs
    ( 2023-12-14) ;
    Oberholzer, Ronny
    ;
    With the abolishment of industrial tariffs as of January 2024, the Swiss Federal Council aims to tackle the high price level in Switzerland compared to its neighboring countries. By eliminating customs duties, imported goods are assumed to become cheaper for consumers and firms, with effects on prices for both intermediate and consumer goods. This report documents the scope of this policy decision. The share of Swiss imports that are duty-free will increase by about 15 percentage points to 95% and about half of all current Swiss customs revenue will be eliminated. Apparel stand out as a product group benefiting the most. With average tariffs of about 5% current import duties are relatively high compared to the import value. We show that especially low-value textiles stand to benefit because Swiss import duties are set on a weight basis. As a result, low-income households should benefit more than high-income ones. The overall impact on consumer prices of the abolishment of tariffs will be small. We need to focus on specific products to find significant potential. But even for textiles, only the cost of goods sold (COGS) are reduced while other costs reflected in consumer prices are unaffected.
  • Publication
    Swiss Trade Monitor - 08 - The Curious Rise of Slovenia
    ( 2023-11-27) ; ;
    Ronny Oberholzer
    For a long time, Slovenia was one of the EU member countries with the smallest trade volume with Switzerland. This has changed rapidly within just a few years. Today, Slovenia is Switzerland’s fourth most important partner in the EU for goods trade. For Slovenia, Switzerland is the most important trading partner in the world. The pharmaceutical sector dominates Swiss-Slovenian goods trade. Starting in 2019, HS-30 trade increased from very low levels to more than a billion Swiss Francs a month. In addition, Swiss HS-29 exports (raw pharmaceutical products) add hundreds of millions. We suggest that EU pharma regulation as well as corporate tax motives can explain this development.
  • Publication
    Swiss Trade Monitor - 2nd Quarterly Report 2023: Mixed Signals
    ( 2023-08-25) ;
    Ronny Oberholzer
    ;
    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 the trade development with Switzerland's largest trading partners. Here are some key observations from the second edition of 2023: Due to differences it release dates, the latest Swiss trade data cover the first two quarters of 2023 for goods and the first quarter of 2023 for services. While the Q1 data are positive for goods and services, the Q2 data for goods indicate a slowdown. Among goods trade, there is a strong increase for both Italy and Slovenia while the Netherlands and the US stand out with large increases in services trade. For the first time, this report provides detailed country reports that illustrate both goods and services trade for each trading partner.
  • Publication
    Swiss Trade Monitor - 3rd Quarterly Report 2023: Diverging Developments
    ( 2023-10-19) ;
    Ronny Oberholzer
    ;
    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 the trade development with Switzerland's largest trading partners. Due do differences in data release schedules, the third edition for 2023 sheds light on the third quarter of the year for goods trade and the second quarter for services trade. Here are some key observations: Switzerland's foreign goods trade in the first nine months of 2023 is about two percent below the level of the previous year. Not a single major goods category shows record level exports or imports. While for most categories the development is rather flat, observations for the exports of chemicals, machines, and manufactured goods are particularly negative. While goods trade with nations such as Slovenia, Hong Kong, or Belgium flourishes, volumes with key partners such as Germany, China, or Spain are declining. In contrast to the development observed with goods trade, the report shows that Swiss services trade is growing strongly - both on the export and import side. Swiss services exports and imports are thriving with basically all major partner countries. Tourism exports have recovered fully from the COVID-related dip while transportation services are booming for both trade directions.