Swiss companies in Canada total more than 320

22 May 2024 13:23

SwissCham Western Canada

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Montreal - The Swiss Business Hub Canada has documented the economic footprint of Swiss companies in Canada for the first time. According to its study, 322 companies from Switzerland have established themselves in the country. Together, they create 54,000 jobs.

The Swiss Business Hub Canada, together with the three Swiss diplomatic representations in Ottawa, Montreal and Vancouver, has compiled an overview of companies that are headquartered in Switzerland and have at least one location in the country on the North American continent. The report Swiss-based Businesses in Canada: a Footprint is the first of its kind to document the presence of Swiss companies in another country.

The 322 Swiss companies present in Canada create a total of 54,000 skilled jobs. The majority of these companies – specifically 59 per cent – operate from the province of Ontario. Twenty-six per cent are based in Québec and eight per cent in British Columbia. Seventy-nine per cent employ fewer than ten people, 109 up to 50 people, and 50 companies up to 100 people. 

Thirty-eight per cent generate under 10 million dollars a year, while 27 per cent achieve between 10 and 50 million dollars. Seventy per cent of Swiss companies in Canada, or a total of 223, focus on one business area such as production, sales, or research and development. In contrast, 99 companies are represented with several divisions.

Canada is Switzerland's second-largest trading partner on the American continent. Swiss exports to Canada have risen by an average of 8.2 per cent annually since 2012 and amounted to 3.8 billion Swiss francs in 2022. This is mainly due to the significant growth in agricultural products (+33 per cent), precious metals (+44 per cent) and watches (+23 per cent). Chemical and pharmaceutical products remain by far the most important sector with a share of 62 per cent.

Swiss imports increased by 135 per cent to a total value of 7.4 billion Swiss francs in 2022 compared to the previous year. Precious metals account for 91 per cent of all Swiss imports from Canada.

Switzerland is the country with the seventh-highest direct investments in Canada. The sum recently increased by 5.7 per cent to 33.8 billion Swiss francs. ce/mm

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