A surge in the export of goods from Switzerland to Russia & investments

According to the deputy head of Switzerland’s diplomatic operation in Russia, Tobias Privitelli, there has been a sudden and rapid increase in the export of the goods from Switzerland over a 10 percent in the previous year, stretching out to almost 80 percent of the just before crisis level.

The Deputy Ambassador further mentioned that a vast range of products like electronics, pharmaceutical products as well as equipment have been exported in massive volumes from Switzerland. There has been a constant decline in the mutual trade which happens between countries by nearly 13 percent of between the years 2017 and 2018, as stated by Privitelli.

Privitelli passed the following statement: “However, there has been an increase of 12 percent in the number of goods that were exported from Switzerland to Russia, which can be considered vastly significant. That is 80 percent of the volumes of the exports which we had back in 2013 before the crisis took place.”

It was reported by the Swiss Pharmaceuticals that 49% of Switzerland’s total exports to Russia constituted of pharmaceuticals, while the electronics and the equipment had a total percentage of 17. Moreover, the share of the Swiss jewelry, watches and various other luxury items also touched 17 percent. The third largest item which was exported and accounted for 8.5 percent was the agricultural products.

The top representative reflected the progress of Swiss investments in Russia that saw a slight increase of 1.5% over the stated period. A new branch of engineering was established in Russia by Zurich-based international ABB Group.

Privitelli further added: “Till today Switzerland is one of the largest international investors of Russia.” Future investments may according to the reports be focusing on areas such as environment, tech, and culture.