Substantial increase exports to Switzerland after appreciation of the franc

02/07/2015 15:00

The value of exports of Dutch goods to Switzerland has risen substantially in the first four months of 2015. The importance of Switzerland in total Dutch exports increased marginally. The value of imports declined slightly since the appreciation of the Swiss franc in January. Over the past two decades, Switzerland’s importance as supplier of goods for the Netherlands has slumped, but exports remained fairly stable, as Statistics Netherlands (CBS) reported today.

Value of imports marginally down, total trade with Switzerland up

Since the appreciation of the Swiss franc against the euro (by an average of 15 percent), the value of imports from Switzerland declined by 2 percent. The decrease in the volume of imports was more or less balanced out by higher import prices. The volume of exports to Switzerland rose by several tens of percent, the value by 11 percent.

Value of Dutch trade, January-April 2014-2015

More trade between EU countries and Switzerland

There are vast differences between the various EU countries regarding volume and value of trade with Switzerland. The picture for the EU as a whole is unambiguous: both imports from and exports to Switzerland have shown modest growth. This applies to value (in euros) and volume (in kg).

Swiss share in total Dutch imports reduced by half over the past 20 years

Over the past two decades, the share of Switzerland in total Dutch imports has fallen continually. In 1996, Switzerland occupied 15th position on the list of main suppliers of goods for the Netherlands, but in 2015 Switzerland has tumbled to 33rd position. The share of Switzerland in total Dutch imports has fallen from 1.2 percent in 1996 too 0.5 percent in 2015. The share for 2014 was also 0.5 percent.

Exports to Switzerland have been stable over the past 20 years. In 1996 as well as in 2015, Switzerland accounted for 1.4 percent in total Dutch exports. The most important goods exported to Switzerland are petroleum derivatives, vegetable products, medicines, cars, medical equipment and telecommunication equipment. With 1.3 percent, the Swiss share in Dutch exports was marginally lower in 2014 than in 2015.

Swiss share in total Dutch imports and exports of goods

Imports machinery and manufactured products substantially down

Imports of machinery, equipment and manufactured products from Switzerland are declining. Turbojet engines (value of imports 65 million euros down from 1996), computers (- 47 million euros) and paper and cardboard (- 44 million euros) show the most substantial downturn in two decades. Imports of aluminium, printing machinery, metal products, paper and cardboard products, electrical machinery and appliances are also obviously in decline.

Composition imports from Switzerland, shares in total Dutch import value