New EFTA-Internal FTA Monitor available

The EFTA-Internal FTA Monitor is now available online.

In 2023, the EFTA Working Group on Preference Utilisation collected detailed data on the effective use of tariff preferences under the founding EFTA Convention and, in the case of Iceland and Norway, the Agreement on the European Economic Area. Building on this work, EFTA is now pleased to publish the output on the utilisation of tariff preferences between the EFTA States.

Below are some of the most important findings included in the report:

• 92.9% of intra-EFTA trade is duty-free.
• On average, for 80 to 95% of intra-EFTA trade flows, the EFTA Convention is used to its full potential.
• However, intra-EFTA traders have already achieved 98% of all potential tariff savings.
• In total, importers and exporters saved EUR 14.5 million thanks to the EFTA Convention (and the EEA Agreement) in 2021.
• Products benefiting the most from the EFTA Convention are skyr for Iceland, food preparations for Norway, and chocolate for Switzerland and Liechtenstein.

The FTA Monitor provides detailed information on duty-free trade flows, achieved versus non-achieved tariff savings, and the scope for improving the use of any specific free trade agreement at the level of individual products. It also allows the comparison of preference utilisation rates over time, as well as across trading partners and product groups.

Additional information on EFTA’s preference utilisation project is available on a dedicated webpage on the EFTA website.