Press Release | Commodity trading in Ticino confirms its resilience and contribution to the local economy
To monitor the evolution of the commodity trading sector and assess its overall economic impact, LCTA conducted a survey among its members in fall 2025, involving exclusively trading companies. Despite the challenges faced in global markets, the detailed overview of sector performance for the period 2021–2023 reveals solid financial fundamentals, dynamic markets, a growing workforce, and employment structures aligned with the operational nature of the industry.
The results of the 2021–2023 survey conducted among member companies of the Lugano Commodity Trading Association (LCTA) confirm the sector’s robustness despite global headwinds. Over 75% of the companies surveyed maintain their headquarters in Ticino, consolidating Lugano’s role as an international trading hub and underscoring the Canton’s strategic importance within the global commodities value chain.
Participant revenues recorded a significant increase in 2022, followed by a contraction in 2023, yet remained above 2021 levels, confirming an overall positive trajectory. Wage expenditure rose over the past two years, reflecting both workforce expansion and corporate performance. Furthermore, a cross verification with Cantonal Authorities shows that the tax contributions of the surveyed companies account for over 70% of the sector’s consolidated tax revenue (federal, cantonal and municipal), attesting to the economic relevance of the member companies.
Employment in the sector continues to expand, with cross-border workers consistently representing around 30% of the total staff. This confirms both its integration within the wider regional labor market and Ticino’s ability to attract skilled local talent. Workforce structures remain predominantly focused on operational and specialist roles, although managerial positions – currently around 25% of the total – are gradually increasing. Projections estimate approximately 1,000 full-time equivalent positions in 2023 within trading companies alone, excluding employees of related service providers.
From an operational standpoint, the energy segment showed diverse trends: oil and fuels grew steadily; LNG experienced a strong rebound in 2023; gas and coal saw declines, likely linked to exogenous factors such as financial and insurance restrictions in European markets affecting coal. Metals also displayed divergent patterns: non-ferrous metals more than doubled in volume in 2022 and stabilized in 2023; ferrous metals declined structurally, partly driven by a reduction in volumes from Russia and Ukraine—historically significant for traders in Ticino. Other commodities showed growth in 2022 and a moderate decline in 2023, confirming the sector’s ability to realign towards higher-yielding or high-potential segments.
Overall, the data depict a mature and resilient sector, solidly anchored in the cantonal economy and capable of withstanding pressures linked to global competition and geopolitical risks. LCTA remains committed to investing in talent development and enhancing the region’s attractiveness, thereby supporting Ticino’s competitiveness on the international stage.
Lugano, December 3, 2025
Contact: Monica Zurfluh, LCTA Secretary General, zurfluh@lcta.ch, M +41 79 220 40 71
LCTA is a non-profit association based in Lugano, founded in 2010. It currently has around fifty members, including some of the major operators in the commodity trading sector and its ecosystem. Ticino is a key global center for the trading of ferrous and non-ferrous metals—particularly gold and steel—as well as coal, coke, natural gas, and electricity
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