Trade and economic cooperation between Ukraine and Switzerland

Switzerland is one of Ukraine's important trading partners.

According to the results of 2024, Switzerland entered the list of 20 leading countries in terms of bilateral trade in goods between Ukraine and European countries with a share of 0.92% of the total trade volume.

The trade turnover between Ukraine and Switzerland in 2024 amounted to 600.8 million USD, which is 43.8% less than the volume of trade in goods in 2023. The volume of exports of Ukrainian goods to Switzerland amounted to 106.7 million USD and decreased by 31.8% compared to 2023, the volume of imports decreased by 45.9% and amounted to 494.1 million USD. The balance is negative for Ukraine and amounts to 387.4 million USD.

According to the results of 2024, the structure of exports of Ukrainian goods to Switzerland was dominated by deliveries of: natural or cultured pearls, precious or semi-precious stones - 26.6% (volumes increased in 16); alcoholic and non-alcoholic beverages and vinegar - 17.3% (volumes increased in 5.1); furniture - 10.5% (volumes increased by 21.3%); cereals - 9.2% (volumes decreased by 52.8%); paper and cardboard - 5.6% (volumes decreased by 7.6%).

According to the results of 2024, the structure of imports of Swiss goods was dominated by deliveries of: works of art - 12.9% (volumes increased in 1983.3); pharmaceutical products - 12.6% (volumes decreased by 7.9%); electrical machines – 11.4% (volumes increased by 69.7%); nuclear reactors, boilers and machines – 8.2% (volumes increased by 13.6%); other finished textile products – 7.0% (volumes increased by 11.0%).

There is a steady trend of growth in the volume of exports of Ukrainian furniture, as a product with a higher, compared to wood and lumber, degree of processing and level of added value.

During January-April 2025, the total trade volume reached the level of 532 million USD. At the same time, the volume of Ukrainian exports to Switzerland amounted to 26.4 million USD (94.3% compared to the same period in 2024), imports – 505.6 million USD (328.7%), the negative balance – 499.2 million USD.

As of the beginning of 2025, Swiss investments in the economy of Ukraine exceeded 4 billion USD, which is almost 9% of the total volume of foreign direct investments attracted to the country's economy. In terms of investment volume, Switzerland is one of the five largest foreign investors.

On October 2, 2024, the 14th meeting of the Joint Ukrainian-Swiss Committee on Trade, Economic and Investment Cooperation was held in Kyiv. The main attention was paid to the topic of Switzerland's participation, including financial, in the reconstruction of Ukraine and the involvement of Swiss private business in the implementation of relevant projects.

On January 1, 2025, the Special Representative of the Federal Council (Government) of Switzerland for the Reconstruction of Ukraine, Jacques Gerber, took office and began work.

On January 23, 2025, on the sidelines of the WEFB in Davos (Switzerland), the “Memorandum of Understanding between the Ministry of Economy of Ukraine and the Swiss State Secretariat for Economic Affairs (SECO) on the Implementation of the Competition for Projects for the Economic Recovery and Reconstruction of Ukraine in Cooperation with Swiss Companies” was signed, which provided for the allocation of 50 million Swiss francs by Switzerland for the implementation of these projects.

Given the increased interest of business, the parties decided to double the funding - from 50 to 100 million Swiss francs. This decision was formalized by the signing of the “Agreement on Amendments to the Memorandum of Understanding between the Ministry of Economy of Ukraine and the Swiss State Secretariat for Economic Affairs (SECO)” on April 8, 2025.

On April 8, 2025, Ukraine and the EFTA States (Iceland, Liechtenstein, Norway and Switzerland) signed a modernized Free Trade Agreement (FTA). The agreement will contribute to the resilience, recovery and economic growth of Ukraine, as well as strengthen ties between Ukraine and the EFTA States, benefiting economic operators in various sectors.

Within the framework of URC2025 /July 10-11, 2025, Rome, Italy/, an Agreement was signed between the Cabinet of Ministers of Ukraine and the Swiss Federal Council on cooperation in the recovery process of Ukraine.