Switzerland Trade Surplus Widens in December


Switzerland trade surplus increased to CHF2.54 billion in December of 2015 from CHF1.45 billion a year earlier but below market consensus, as exports rose 1.9 percent while imports fell by 5.6 percent. For full year of 2015, trade surplus stood at CHF36.61 billion, the largest on record.

Year-on-year, outbond shipments increased by 1.9 percent to CHF16.14 billion in December, following an upwardly revised CHF18.33 billion in a month earlier. Sales rose for: chemical and pharmaceutical industry (+17.4 percent); pharmaceutical, vitamins, diagnostics (+20.3 percent); agro-chemical products (+5.5 percent); raw materials and commodities (+16.0 percent), color body (+3.1 percent) and textiles (+2.0 percent). In contrast, sales fell for: unshaped plastics (-7.1 percent); essential oils, fragrance and aromas (+7.6 percent); machinery and electronics industry (-7.8 percent); machinery industry (-7.9 percent); electrical engineering and electronics (-7.6 percent); watchmaking (-3.8 percent); precision instruments (-5.1 percent); metalurgy (-6.2 percent); costumes and jewelry (-17.2 percent); food and beverages (-4.6 percent); vehicles (-18.1 percent); plastics industry (-4.3 percent) and paper and graphic arts (-8.0 percent).

While exports to Europe remained unchanged, those to the EU countries rose by 0.7 percent. Sales also rose to Asia (+3.5 percent), North America (+7.6 percent, including to the US +5.8 percent) and Oceania (+6.4 percent). In contrast, outbond shipments fell to the Middle East countries (-8.8 percent), Latin America (-4.2 percent) and Africa (-4.9 percent).

Imports fell by 5.6 percent to CHF 15.11 billion, after registering an upwardly revised CHF 15.16 billion in the preceding month. Purchases dropped for all categories: consumer goods (-2.3 percent), capital goods (-6.6 percent), raw materials (-6.7 percent) and energy sources (-22.0 percent, including crude oils and basic products (-52.8 percent) and fuels (-18.6 percent).

In November, the country registered an upwardly revised CHF3.16 billion trade surplus, the highest on record.

January to December 2015, exports dropped by 2.6 percent to CHF202.90 billion while imports fell by 6.9 percent to CHF166.29 billion. 

Switzerland Trade Surplus Widens in December


Seco l Rida Husna | rida@tradingeconomics.com
1/26/2016 8:20:52 AM