Swiss companies have traditionally been present in key markets abroad in order to expand beyond their limited domestic market. As a result, Switzerland has become an important player in international trade, advocating for trade-friendly policies and promoting an open and rule-based global trading system. It specializes in exporting high-quality goods and services and has one of the highest export rates as a percentage of GDP.
The U.S. is Switzerland’s second most important export market worldwide (after Germany). Exports to the U.S. have grown by an average of 10% annually over the last 10 years and continue to boom now. In 2016, goods exports reached a new peak at $37.7 billion and services exports amounted to $23.7 billion. On the other hand, the U.S. exports more products to Switzerland than to Scandinavia, the Baltic States and Austria combined, making Switzerland its 12th most important export market for goods. Furthermore, the U.S. services exports amount to $32.5 billion, making Switzerland the 7th most important export market for services, ahead of Mexico and Germany. The bilateral trade volume in goods and services between Switzerland and the U.S. reached a total of $110 billion.