Switzerland’s export sector achieved a historic milestone in 2024, reaching CHF 282.9 billion, a 3.2% increase compared to the previous year. Meanwhile, imports fell, leading to a record trade surplus. Alongside trade developments, Switzerland is navigating shifts in its job market, environmental policies, and social legislation.

Swiss Trade Performance in 2024

Category	2023 (CHF Billion)	2024 (CHF Billion)	Change (%)
Exports	274.2	282.9	+3.2%
Imports	226.0	222.3	-1.6%
Trade Surplus	48.2	60.6	+25.7%

The chemical-pharmaceutical sector was the main contributor to this growth, with exports soaring by 10%, further strengthening Switzerland’s global position in life sciences. The food and beverage sector also performed well, growing by 2.3%, largely due to increasing international demand for Swiss coffee.

Challenges in the Swiss Watch Industry

Despite overall export growth, the Swiss watch industry saw a 2.8% decline, with exports dropping to CHF 25.9 billion. This reflects shifting consumer trends and potential saturation in key markets.

Broader Economic and Policy Developments

Area	Key Update
Job Market	Layoffs increased, but unemployment remained stable due to new hiring.
Greenhouse Gas Reduction	Switzerland targets a 65% reduction in emissions by 2035 (compared to 1990 levels).
Egg Donation Legislation	The government has initiated steps to legalize egg donation, marking a significant policy shift.

Conclusion

Switzerland’s record-breaking exports and trade surplus highlight the resilience of key industries, particularly pharmaceuticals. However, challenges in the watch sector and shifts in employment trends indicate evolving economic dynamics. Meanwhile, ambitious environmental goals and potential changes in reproductive healthcare legislation reflect the country’s broader policy direction for the coming years.