Swiss exports hit record high

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Data released on March 17, 2022 showed a 15.4% jump in Swiss exports in February 2022. The sharp rise in exports combined with a 2.9% drop in imports led to a monthly trade balance of 5.7 million francs. This is the first time in history that Switzerland’s monthly trade balance has exceeded 5 million francs.

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In February 2022, Switzerland exported 24.0 billion francs worth of products while importing 18.3 billion francs, creating a net trade balance of 5.7 billion francs.

Between January and February, exports increased by 3.2 billion francs. 89% of the monthly increase (+2.8 billion) comes from the pharmaceutical sector where exports jumped by 27% between January and February 2022. Exports of medicines (+44%) and immunological products (+4%) have most strongly jumped. Apart from the pharmaceutical sector, Swiss watch exports increased by 8%.

Exports to the EU (50%), the United States (21%), China (6%), other European countries (6%) and other Asian countries (13%) accounted for 96% of the total of Swiss export earnings.

The highest export growth rates in February were recorded with the EU (+6%), the United Kingdom (+4%), Russia (+15%), the United States (+52%) ), China (+19%), Taiwan (+32%), Mexico (11%) and Egypt (+18%).

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