Swiss exports hit a new high in 2025, buoyed by strong demand for chemicals and pharmaceuticals, despite a tariff dispute with the United States under Donald Trump.
Exports rose by 1.4% to CHF 287bn, according to the Federal Office for Customs and Border Security. Shipments to the United States increased by 3.9% to CHF 54.7bn, even as imports from America fell by 5.7% to CHF 13.3bn. Exports to the US were 19% of the total.
Imports overall climbed by 4.5% to CHF 232.7bn, the second-highest level on record. As a result, Switzerland’s trade surplus narrowed to CHF 54.3bn, down from an all-time high of CHF 60.6bn a year earlier.
Chemicals and pharmaceuticals were the main drivers of export growth. Sales in the sector rose by CHF 3.3bn to a record CHF 152bn, accounting for more than half of total exports. Shipments of vehicles, jewellery and precious metals also increased. By contrast, exports of machinery, electronics and watches declined once again.
By region, exports to North America and Europe expanded, with particularly strong growth to Germany, Austria, Italy and Ireland. Exports to Asia fell, notably to China, Japan and Hong Kong.
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