Switzerland is our eighth-leading customer (€11.3b in exports) and tenth-leading supplier (€10.9b). The exchange of goods between France and Switzerland found renewed vigour in 2010 with growth in overall trade (imports and exports) of 12% year-over-year (€22.1b). Despite the drop in French exports to Switzerland since early 2009 in the context of economic crisis, France maintains a trade surplus: for the year 2010, it stood at €505M, against €344M in 2009, or a 47% increase in one year. Our exports grew 12.4% and our imports grew 11.2% over the entire year (in part because of the franc’s significant appreciation compared with the euro).
France’s leading type of export to Switzerland remains items in the aeronautical sector (€975M in 2010) with 9% of total exports in 2010, followed closely by agrifood sector exports (€951M), then automobile sector exports(5% of the total), which stood at €556M in 2010, after record exports for the months of September and October 2010. Our exports of pharmaceutical preparations (fourth export product with 4% of the total, cumulatively) were not able to benefit from the weak euro and continued to fall (€502M at the end of2010 against €691M at the end of 2009). Electricity is the fifth export product, with nearly 4% of the total.
In terms of our imports, five products account for 45% of their value: pharmaceutical preparations (12% of the total of our imports of Swiss products), watch-making items (10%), medical equipment (9%), medical instruments and supplies (8%) and essential oils (6%). In addition, clear growth has been observed in aeronautical and space industry products.
Direct cross investments are also significant and are growing. At the end of 2008, total Swiss FDI in France stood at 41.8b euros, i.e. 5.9% of total FDI received by France: the Confederation is (in terms of totals) the seventh-leading foreign investor in France (eighth in 2007). At the end of 2008, Switzerland was the eighth-leading holder of French investments abroad (sixth in 2007). Total French investments in Switzerland stand at 40.2b euros. According to the AFII (Agence Française pour les Investissements Internationaux - Invest in France Agency -IFA)’s most recent report from March 2009, there were 1,601 Swiss establishments in France in 2008, employing 285,002 people.
Updated on 03.11.11