Swiss arms exports climbed sharply in 2025, reaching 948.2 million Swiss francs (about $1.07 billion) and coming within touching distance of the country’s 2022 record.
Official data show shipments rose nearly 43% from 2024, with Germany far ahead as the biggest buyer at 386.4 million francs. The United States, Hungary, Italy, and Luxembourg rounded out the top five. In all, Swiss war material went to 64 countries.
That jump matters for more than one reason. On paper, 948.2 million francs is still a small slice of the Swiss economy, just 0.21% of total Swiss goods exports.
But in practical terms, it shows how Europe’s defense buildup is pulling even a traditionally neutral country deeper into the industrial side of today’s security crisis. When military demand rises across the continent, it does not stop at the border.
Ammunition and armored vehicles drove Swiss defense exports
The biggest driver was ammunition. SECO said ammunition and ammunition components accounted for 43.22% of all exports in 2025, while armored vehicles and their parts made up 23.66%.
Europe absorbed 86.14% of total deliveries, far ahead of the Americas at 10.37%. That is a striking pattern. It suggests Swiss manufacturers are increasingly tied to nearby allies and defense supply chains, even as Bern keeps insisting on the legal limits imposed by neutrality.
And that is where the story gets more complicated. Swiss authorities said they still cannot approve requests from other countries to re-export Swiss-origin war material to Ukraine while that international armed conflict continues. SECO argues that both Swiss neutrality rules and the War Material Act block such transfers under current law.
At the same time, Parliament approved changes in December 2025 that would loosen some export and re export restrictions, giving the Federal Council more room to act in certain cases involving 25 Western countries. The referendum window on that change runs until April 17, 2026.
Why Switzerland’s defense industry is under pressure
So what should readers keep in mind? For the most part, this is not just a trade story. It is a signal that Switzerland’s defense industry is being pushed by the same pressures reshaping military procurement across Europe.
The country is still trying to balance neutrality, law, and business interest. But that balancing act is getting harder. Fast.
The official statement was published on the News Service Bund.
