Switzerland Trade Surplus Widens in December


Switzerland trade surplus increased to CHF 1.51 billion in December of 2014 from CHF 0.43 billion a year earlier as exports surged 7.2 percent.

In December, exports increased 7.2 percent year-on-year to CHF 15.77 billion, mainly due to higher sales of rail vehicles (+133.6 percent to  CHF 127 million); tobacco brands (+65.4 percent to CHF 51 million); costume and jewelry (+39.8 percent to CHF  810 million); aircraft and spacecrafts (+32 percent to CHF 201  million); raw materials and commodities (+30.6 percent to CHF 347 million); medication (+26.8 percent to CHF 2.35 billion); office machines (+24.3 percent to CHF 81 million); aluminium (+23.1 percent to CHF 114 million); cheese (+18.8 percent to CHF 65 milion); beverages (+16.5 percent to CHF 136 million); textiles, clothing and footwear (+13.7 percent to CHF 242 million); pharmaceuticals, vitamins, diagnostics (+12.4 percent to CHF 5.94 billion); household appliances (+10.2 percent to CHF 85 million); unshaped plastics (+9.3 percent to CHF 117 million); machine for paper/graphics industry (+8.5 percent to CHF 131 million) and machine tools for metal working (+8.2 percent to  CHF 361 million).

Sales to the US increased the most by 39.3 percent  to CHF 2.25 billion, followed by the EU countries (+7.0 percent to CHF 6.84 billion), Japan (+0.5 percent to CHF4 37 million), South Korea (+9.1 percent to CHF 202 million), Australia (+13.6 percent to CHF1 78 million), India (+2.1 percent to CHF 159 million) and Thailand (+25.3 percent to  CHF 122 million). In contrast, outbound shipment declined to: China (-13.3 percent to CHF 648 million), Hong Kong (-1.9 percent to CHF 520 million), Singapore (-8.2 percent to CHF 234 million), Canada (-12.7 percent to CHF 205 million) and Middle East countries (-1.8 percent to CHF 3.60 billion).

 Imports declined  by 0.2 percent year-on-year to CHF 14.26  billion. Purchases of energy fell the most by 19.5 percent to 976 million with fuels declining 27.7 percent to 331 million. Imports increased for: consumer goods (+1.2 percent to CHF 6.91 billion ), raw materials and semi-finished products (4.1 percent to CHF 2.87 billion) and capital goods (+0.5 percent to CHF 3.5 billion).

In November 2014, Switzerland registered a revised CHF 3.79 billion trade surplus.

From January to December, total exports reached a new record high at  CHF 208.5 billion while imports amounted to CHF 178.3 billion. That brought a CHF 30 billion trade surplus for 2014.

Switzerland Trade Surplus Widens in December


Swiss Customs Administration l Rida Husna l rida@tradingeconomics.com
2/3/2015 9:23:24 AM