Between 1928 and early 1960's trade between the two countries represented a typical example of trade between developed (Switzerland) and developing (Yugoslavia) country in which Yugoslavia exported its natural resources and imported industrial products and equipments.[2] In 1972 Yugoslavia was Switzerland's 24th import and 18th export partner while Switzerland was Yugoslavia's 9th import and 14th export partner.[2] In 1960 71% of Yugoslav export to Switzerland was natural resources while in 1970 it constituted 51% and in 1975 they dropped to 37% of the total export.[2]