From Gold to Machinery: What Fuels UK–Switzerland Trade?

The United Kingdom and Switzerland share a unique trading partnership grounded in high-value goods, strong financial services, and efficient cross-border logistics. Although neither is a member of the European Union, both countries benefit from a bilateral trade agreement that continues to support the seamless exchange of goods and services. In an increasingly fragmented global market, their ability to sustain and even expand trade post-Brexit is a story of alignment, adaptation, and ambition.

How Goods Move: Trade Logistics Between the UK and Switzerland

Despite being separated by geography, the UK, as an island nation, and Switzerland, as a landlocked state, their trade logistics are remarkably efficient. Goods typically travel via major European ports such as Rotterdam and Antwerp, crossing through France or Belgium before reaching the Swiss border by road. Road freight to Switzerland remains the most reliable method for transporting goods across the continent, especially for time-sensitive and high-value items.

The process has grown more complex since Brexit, with new customs formalities and regulatory checks. However, mutual recognition of standards, authorised economic operator (AEO) schemes, and digital customs solutions have kept things moving. The flow of time-sensitive goods, such as pharmaceuticals and precision instruments, remains largely uninterrupted thanks to well-coordinated infrastructure on both ends.

What the UK and Switzerland Trade

At the heart of this trading relationship is a rich exchange of high-value goods. In 2024, UK exports to Switzerland reached approximately £25.5 billion.

Beyond gold, machinery, pharmaceuticals, vehicles, and electronic components form the core of UK exports to Switzerland. Swiss exports to the UK reflect similar strengths: medical equipment, chemical products, precision tools, and watches, all of which underscore Switzerland’s reputation for engineering and quality.

Services also make up a significant portion of bilateral trade, especially in finance, legal, and consulting sectors. Both countries are financial hubs with deep investment ties and regulatory systems built on transparency and trust.

What the UK Exports to Switzerland

According to ONS data covering th e year to the end of March 2025, the top five physical goods exported from the UK to Switzerland were:

“Unspecified goods” (£833.4 million; 14.8% of all goods exports). This category often includes non‑monetary gold, which plays a major role in total trade volumes and can fluctuate significantly
Works of art (£555.1 million; 9.8%)
Medicinal and pharmaceutical products (£488.2 million; 8.7%).
Cars (£432.5 million; 7.7%)
Non‑ferrous metals (£402.0 million; 7.1%)

On average across 2020–2022, metal-related goods were the UK’s highest-value exports to Switzerland – exceeding £20 billion per annum, while food and agricultural exports made up only about £142 million.

What Switzerland Exports to the UK

In the same period, the top physical goods imported into the UK from Switzerland were:

Medicinal and pharmaceutical products (£2.0 billion; 17.6%)
Consumer photographic, optical goods and clocks (£1.4 billion; 12.4%)
Non‑ferrous metals (£1.1 billion; 10.1%)
Jewellery (£388 million; 3.5%)
Unspecified goods (£1.9 billion; 16.5%), which again includes gold and other high‑value items

The Trade Framework After Brexit

The UK–Switzerland continuity trade agreement, signed in February 2019 and implemented on 3 May 2021, retained tariff‑free access for approximately 99 per cent of UK goods exports by value. Most remaining tariffs apply only in the agricultural sectors.

Rules of origin provisions, including cumulation with EU materials, ensure suppliers using eligible inputs can still benefit from preferential access, which is particularly valuable for high‑value goods like cars, pharmaceuticals, machinery and metals.

Customs facilitation measures have been agreed to streamline procedures, reduce border delays (especially for perishable and time‑critical goods), and promote digitisation and administrative simplification – benefiting exporters and importers on both sides.

Why It Matters

This robust trade in physical goods demonstrates how both countries leverage their strengths in metals, vehicles, medical products, art, and precision manufacturing. While gold trading can skew aggregated totals, the steady flow of goods like cars, medicines, machinery and luxury items proves that trade is grounded in real economic activity, not just financial flows.

With logistics systems that have adapted post‑Brexit, and a trade agreement that preserves preferential access, bilateral trade remains resilient. And as negotiations toward an enhanced Free Trade Agreement evolve, sectors reliant on rules of origin, customs efficiency and administrative clarity, such as automotive, pharmaceuticals and advanced manufacturing, stand to benefit still further.

Author Profile

Adam Regan

Deputy Editor

Features and account management. 3 years media experience. Previously covered features for online and print editions.

Email Adam@MarkMeets.com