Switzerland Trade Surplus Increases in January

Switzerland trade surplus widened to CHF 3.43 billion in January of 2015 from CHF 2.52 billion a year earlier as imports declined faster than exports.
Swiss Customs Administration l Rida Husna l rida@tradingeconomics.com 2/19/2015 12:02:53 PM
In January, exports fell by 4.4 percent year-on-year to CHF 16.40 billion, due to lower sales of active pharmaceuticals ingredients (-24.8 percent); medication (-8.4 percent); pharmaceuticals, vitamins, diagnostics (-7.5 percent). Sales also declined for: essentials oils, flavors and fragrances (-15.3 percent); body color (-12.0 percent); non-electric engines (-46.1 percent); pumps, compressors, etc (-15.5 percent); heating and cooling technology (-1.0 percent); textile machinery (-13.7 percent); machine for paper/graphics industry (-13.5 percent); household appliances (-3.5 percent); electrical and electronic products (-7.8 percent); telecommunications (-37.8 percent); mechanical measuring, testing and control equipment (-6.0 percent); metal products (-6.7 percent); machine elements of metals (-4.1 percent); tools and molding (-11.5 percent); iron and steel (-17.4 percent); coffee (-8.1 percent); beverages (-3.3 percent to CHF 151 million); tobacco brands (-4.7 percent to CHF 52 million); cheese (-7.8 percent); plastics industry (-7.3 percent); textiles, clothing and footwear (-10.0 percent) and paper and printing industry (-19 percent).  

In contrast, exports  increased for: immunological products (+6.4 percent); raw materials and commodities (+22.8 percent); other machine tools (+6.1 percent); office machines (+1.9 percent); medical instruments and apparatus (+2.0 percent); aluminium (+0.7 percent); aircraft and spacecraft (+18.6 percent) and rail vehicles (+35.2 percent).

Sales to the EU countries declined the most by 7.1 percent, followed by the US (-6.0 percent), Japan (-7.3 percent), Latin America (-15.6 percent), Africa (-10.8 percent), Oceania (-2.4 percent) and Russia (-35.9 percent). In contrast, exports increased to China (+23.9 percent), Hong Kong (+10.1 percent) and the Middle East countries (+24.4 percent).

Imports declined by 11.4 percent year-on-year to CHF 12.97 billion. Purchases dropped across the board with those of energy falling the most by 31.0 percent. Among the category, crude oils and commodities declined by 53 percent, followed by fuels (-24 percent) and electrical current (-14.7 percent). Imports of raw materials decreased by 11.4 percent, capital goods (-6.6 percent) and consumption goods (-9.9 percent).

In December 2014, Switzerland registered a CHF 1.52 billion trade surplus.

Switzerland Trade Surplus Increases in January