Pharmaceutical Products, Top Swiss Exports in the First Half of 2017
The Swiss exports reached a new record in the first half of 2017, mostly due to the export activities carried out for pharmaceutical and chemical products. Investors interested in opening a company in Switzerland in the trading sector should know that the value of the Swiss exports accounted for CHF 109.6 billion, which represented an increase of 4.4%. Our team of lawyers in Switzerland can offer in-depth advice on the regulations referring to the import-export activities.
Key aspects of the Swiss exports in 2017
As mentioned above, the Swiss exports increased due to the external demand for pharmaceuticals. However, the value of the Swiss exports also developed following China’s demand for various products, which increased by 20% in the first part of the year.
A modest increase in the first part of 2017 was also observed in the watch industry, which represents one of the highlights of the Swiss economy. According to the data provided by the Federation of Swiss Watch Industry, the exports with Hong Kong increased by 0.5%.
Still, the most representative development on export matters was concluded for pharmaceutical and chemical products. At the same time, the top import activities were performed for pharmaceutical and chemical products, reaching a record that was last observed eight years ago. The import activities increased in the same period by 4.8%, accounting for CHF 90.7 billion. Our team of Swiss lawyers can provide more details on the requirements for setting up a company which performs trading activities.
Pharmaceutical industry in Switzerland
The pharmaceutical industry in Switzerland generated 4.8% of the Swiss gross domestic product at the level of 2016. Investors interested in setting up a business in Switzerland in this industry should know that products deriving from this activity usually represent the top items for export matters.
At the same time, the industry employs approximately 70,000 persons in Switzerland, while the employment levels are much higher when taking into consideration persons working abroad, as it accounts for 338,000 employees.
For more details on the regulations related to the pharmaceutical industry, please contact our law firm in Switzerland.