Overview of the Swiss import and export market

Switzerland is a pioneer import and export economy in terms of international trade with tight networks of free trade agreements, including with key regions such as the EU and China.

Europe's busiest import-export economy

Compared with other European countries, Switzerland can be considered as the pioneer in opening up and facilitating the development of international trade. This is also the spearhead industry of the Swiss economy, creating the reputation of the Swiss brand to the world.

In 2020, according to statistics of the World Bank, Switzerland is the EU's fourth largest import and export market for goods with the proportion of exports and imports accounting for 7.4% and 6.3%, respectively. Switzerland's main export markets include France, Italy, Germany, the United States and the United Kingdom, of which Germany is the country's largest market with a total export turnover of 25%.

Switzerland is the most advanced country in terms of international trade

One IBC, the leading foreign investment consulting group in Europe, has assessed this market as a very special market. Although not officially part of the EU, Switzerland has always been a major partner of many countries inside and outside the region. It can be said that Switzerland owns one of the network of free trade agreements covering all continents, including with the EU and China, to ensure the smoothest and most efficient trade flow. This makes it possible for Switzerland to strengthen international trade activities but still maintain its neutrality in diplomatic relations, becoming a unique feature that attracts a lot of investment capital from abroad.

Switzerland's main exports are machinery and equipment, pharmaceutical products, watches and textiles. Switzerland's top exports in 2020 are chemicals and pharmaceuticals with an equivalent value of $86 billion, followed by watches with $48 billion and machinery and equipment accounting for about $36 billion. Raw materials, precious metals, foodstuffs, agricultural products and fuels are among the most imported items here. In which, gold accounts for about a quarter of total imports.

Vietnam's reliable import and export market in Europe

According to a report by the Swiss Customs Department, two-way trade turnover between Switzerland and Vietnam in the past 5 years has reached more than 7.9 billion Swiss Francs (CHF), of which Vietnam is a surplus exporter.

If the two-way trade turnover between the two countries in the period 2013 - 2015 averaged just over 1 billion CHF, in the period 2016 - 2017 has increased to 2 billion CHF. Typical Vietnamese products imported to Switzerland in the past year can be mentioned as: textiles, agricultural products and seafood. In addition, the production of electronic components is also showing potential for export to this European market.

According to One IBC, these industries are all traditional industries and are the strength of Vietnamese businesses from the past to the present. They therefore should proactively improve the quality of their products and services in line with the needs of customers. international trade standards, thereby promoting trade cooperation between Vietnam and Switzerland.

What opportunities for Vietnamese businesses to access Switzerland?

Although trade cooperation with Vietnam has made many progress in recent years, Switzerland in general is still a rather tough market. In order to access capital from Swiss investors, One IBC encourages Vietnamese businesses to boost exports as well as expand their businesses to Europe in general and Switzerland in particular.

There are many ways for businesses to promote their business activities to other major import and export markets outside of Vietnam. In particular, the simplest and least expensive way is through the advice of leading experts in the field of foreign investment support. Currently in Vietnam, One IBC is a prestigious and professional address that many businesses look to.

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One IBC is committed to bringing business opportunities without borders and providing the best solutions for businesses to develop sustainably. One IBC's services will help reduce the burden of administrative procedures in the host country, helping businesses focus maximum resources on their business activities.